Singapore's national trade platform launches Tradeteq's AI-based credit rating system Global Trade Review (GTR)

Singapore's digital national trade platform has launched Tradeteq's AI-based credit scoring system to enable its users to better assess counterparty risk in trade deals. The system is being used to leverage various data sources to provide thorough credit reports for users of Singapore's Networked Trade Platform (NTP), including data on each company in the supply chain as well as each receivable. The NTP is a digital national trade information management system backed by the Singaporean government, which aims to make trade flowing through Singapore more efficient. Launched in September last year, the NTP brings the entire trade ecosystem to a single online location, digitising the trade processing process. It replaced two existing trade facilitation platforms in Singapore, TradeXchange and TradeNet.