According to the latest reports on July 8, 2021, an announcement has been made by Singapore's GUUD (Finance) Pte. Ltd. ("GUUD Finance") about the introduction of RYTE - a smart trade financing technology platform intended to improve on complex and traditionally manual trade finance operations, associating business clients to both banks and alternative finance providers, and enabling them more noteworthy opportunities to access funding options to fulfill their working capital requirements.

GUUD Finance is the financing arm of the GUUD Group and expresses its vision to trade for Good and to empower all organizations, especially MSMEs ie Micro, Small & Medium-sized businesses to become competitors in the global trade by red tape, removing intermediaries, and facilitating improved access to financial services.

Through RYTE - the latest introduced financing platform, is enabling businesses to streamline & standardizing the processes, easy submission of the documents, getting the important digital information or documents through safe & secure repositories like the Networked Trade Platform ("NTP") or from digital trade facilitation platforms handled by GUUD such as trade declaration services.

RYTE platform allows business users to explore a variety of options for financing revolving around their trade transactions, from supply chain financing to documentary trade, all inside a single platform. Whether they are willing to apply for import GST financing, letter of credit issuance, or shipment financing, the business users can use the RYTE platform to get connected with a suitable service provider that can help them in their requirements.

As a digital trade financing platform, the RYTE platform takes advantage of the power of data to ensure a better experience for users, making their financing process quicker, easy & secure. With an agenda of quicker turnaround time on all the queries, real-time status updates, and faster, safe auto-population of form fields and retrieval of online information through its safe, secure & trusted network, RYTE is focused on assisting users to explore their work processes carefully and simply, saving time, cost and unwanted errors.

Remarking on the launch, Desmond Loh, CEO, GUUD Finance explained, “The international finance gap is extending and estimated approx USD 1.5 trillion as of 2019 according to a survey by ADB, and this gap keeps on developing. With the introduction of RYTE, GUUD Finance desires to have the option to provide as many businesses as we can with alternatives for financing that will help facilitate their income strain, increment their working capital, and permit them to extend their organizations without any problem. ”

The introduction of the RYTE will include comments from Mr. Lim Cheng Khai, Executive Director, Financial Markets Development at the Monetary Authority of Singapore ("MAS") as well as a broad discussion with pioneers from key financial and technology institutions in Singapore from IN Financial, Ascent Solutions, CIMB and MonetaGo.

According to Mr. Lim Cheng Khai, Executive Director at MAS, “The RYTE trade financing platform makes use of digitization to deliver a better and efficient experience for trade finance solutions. It is an appreciable addition to Singapore’s trade financing ecosystem and builds up Singapore’s suggestion as an advanced financing center. MAS will keep operating with the financial, technology, and trade sectors and government associates to provide a smooth, digital, reliable trade and trade financing ecosystem in Singapore. ”

GUUD is one of the quickest developing trade technology organizations in Singapore, with offices located in China, Indonesia, and Kenya, and activities crossing in over 17 nations. The company has gained many firsts including the introduction of Seafood exchange, Singapore's first B2B seafood e-marketplace for seafood traders. CamelONE™ Trade Finance (now known as RYTETFAP), established in November 2019 is the first unified multi-bank trade finance portal in Southeast Asia and their Smart eCO solution is the world's first blockchain-enabled eCertificate of Origin.

GUUD Finance is the financing arm of GUUD Pte Ltd, a portfolio organization of DeClout Pte Ltd, a main technology business manufacturer settled in Singapore.

About RYTE

RYTE is an advanced & smart trade financing technology platform designed & developed by GUDD Finance, links finance providers to businesses, big and small, facilitating their access to a bunch of financial tools that can assist them to improve cash flow and expand their company quickly & easily.

It is a part of the GUUD digital trade ecosystem, the only one across the world that links all stakeholders in the trade facilitation process, and assists businesses bypass long-existing obstacles to global trade, empowering them to import or export goods smoothly to any part of the world.

About GUUD

GUUD is a digital trade technology platform and a group of businesses under the vCargo Cloud umbrella. The GUUD group references the UN/CEFACT Buy-Ship-Pay model to take all aspects of trade facilitation, bypassing long-time existing hurdles to trade and digitally transforming trade operations so they become more proficient and more comprehensive.

Driven by a solid group of industry and IT experts, GUUD tries to help anybody and everybody, especially micro, small and medium enterprises to enable them to survive in the global trade and to export and import from any part of the world.

Our central goal is to Trade for Good and directed by the UN's reasonable environnement goals, we seek after what is useful for individuals, organizations, and economies, further developing livelihoods, producing prosperity, and making mechanical efficiencies and enhancements wherever we go.

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