Connecting The World Beyond Borders, Proxtera Launches At The 2020 Singapore FinTech Festival
Proxtera enables Small Medium Enterprises ("SME") trade platforms to connect seamlessly. It offers global cross-border trade, finance, and more to the underserved business to business e-commerce market space.
SINGAPORE, Dec. 7, 2020 /PRNewswire/ -- Proxtera is established to realize Business Sans Border (BSB), an initiative of the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA). Proxtera has developed into a global public-private partnership, demonstrating a collaborative effort between Singapore, India, Philippines, and Africa. Today, Proxtera launches its innovative technology solution that enables small and medium-sized enterprises to digitally trade beyond borders in the underserved wholesale e-commerce market space.
Proxtera is ready to share its network with the world
Proxtera has on-boarded several pilot platforms, and successfully facilitated live trades, cross platforms, and cross countries. It will enable mutually beneficial trade relations in a digital future.
Proxtera empowers B2B platforms and service providers to instantly access new business opportunities by connecting them to a global network, proclaiming it as a single experience to the global ecosystem. Proxtera enables B2B platforms to now connect to a plethora of new buy-and-sell options and new services to complete their trade journey, while enhancing their business without ever having to leave their existing B2B platform.
Proxtera offers seamless integration and smart matching through its open Application Programming Interface (API), smart recommendation, and matching of platforms for service providers; including those from banks, FinTech's, and logistics through its AI Machine Learning core.
For interested participants and ecosystems seeking to benefit from Proxtera's network effect but lacking a digital platform, they allow integration with third-party open solution providers to enable digitalization and onboarding. For example, Proxtera worked with the Trade Promotion Council of India (TPCI) to develop a Proxtera-connected digital platform. This helps TPCI enhance its members' connectivity and reach internationally allowing TPCI to increase its brand and the product reach for its members exponentially. Proxtera's open network will continue to grow with new platforms in 2021 and beyond. Uniquely positioned to be a robust digital store of financial and trade-related services to enhance the end-to-end trading experience.
Proxtera is just getting started on its mission to empower business ecosystem's and SMEs
In relation to this announcement, the following parties who have contributed to the realization of Proxtera commented:
"We are delighted to support the launch of Proxtera as an open international digital infrastructure to help SMEs, financial institutions and economies connect fairly and openly with each other. As a realization of the Business sans Border initiative, Proxtera's innovative integration of financial tools, digital trust and Artificial Intelligence into traditional trade and business services will allow local ecosystems in Singapore and other countries to go global whilst capitalizing on each country's unique value propositions. We are looking forward to the international collaboration around Proxtera to foster new trade opportunities and build greater business resiliency and financial inclusion for SMEs and ecosystems in Singapore and beyond." - Sopnendu Mohanty, Chief FinTech Officer, MAS
"We are excited that SMEs can now digitally have a one-stop access to a global market to trade from, supported with logistics, financing, and digital solutions through Proxtera, a global public-private partnership. BSB is part of IMDA's drive to put in place digital utilities as baseline infrastructure for the Digital Economy. Similar to their physical counterparts, digital utilities provide common standards and functionalities to facilitate data flows and transactions. IMDA will continue to help SMEs in their digitalization journey with innovative solutions and the potential to scale with new business opportunities through BSB. We encourage our SMEs and their platforms to come onboard to trade seamlessly across the region and globally." - Jane Lim, Assistant Chief Executive, IMDA
"We are thrilled to support the groundbreaking potential of Proxtera through our investment. This is a unique public private partnership model, which creates value across the entire trade lifecycle for all participants including SMEs, Trade Platforms and Service providers. CerraCap's unique Sales & Scale™️ model will help Proxtera to build a world class technology solution and expand its global footprint through CerraCap's network and ecosystem. This collaboration further aligns with CerraCaps, "Dreams to Impact" vision of investing in tech enabled innovations aspired for better today and brighter tomorrow." - Saurabh Ranjan, Founder & CEO, CerraCap Ventures, California, USA
"GlobalLinker's mission of making the business growth of its over 300,000 SMEs from 150+ countries simpler, more profitable and enjoyable will be taken to a next level by its active participation in Proxtera. With the ability to aggregate demand and supply of SMEs across several ecosystems, SMEs will find greater business opportunities. Proxtera will help create cross-border SME trade Corridors and will encourage increased adoption of digitization by SMEs." - Sameer Vakil, Co-Founder and CEO of GlobalLinker
"The development and empowerment of globally aspiring enterprises are important steps to driving the future growth of the SME sector which forms the backbone of our nation. It is exactly with this in mind that PwC Singapore continues to work together with governments and businesses towards realizing the Business Sans Borders ("BSB") initiative. We are excited to be part of the next stage of actualizing BSB. By improving connectivity and access to trade and finance, we can move towards a more technologically and financially inclusive ecosystem for SMEs. This resonates strongly with PwC's purpose to build trust in society and solve important problems - and is at the core of what we do." - Yeoh Oon Jin, Executive Chairman, PwC Singapore
About Proxtera Pte. Ltd.
Proxtera is the commercial entity to realize Business sans Borders ("BSB"), an initiative of the Monetary Authority of Singapore ("MAS") and Infocomm Media Development Authority ("IMDA"). BSB's vision is to create an open connector of business platforms, trade associations, government bodies, financial services, and other services providers for the benefit of SMEs.
Rooted in its mission to empower SMEs and drive mutually beneficial trade relations, Proxtera is a neutral network which connects B2B eCommerce platforms across the globe to one another. It also connects the platform and users to trade-related service providers through a single integration point, facilitating access to broader marketplaces and services. In doing so, Proxtera enables open and intelligent cross-border trade between Singapore and participating partner countries across ASEAN, India, Japan, Korea as well as several markets in Sub-Saharan Africa.
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To learn more about Proxtera and how to participate today, visit www.proxtera.com
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