Mitigate the risk of duplicate trade financing fraud
Losing revenue through duplicate invoice fraud?
Time for a preventative solution to flag suspicious requests
Risk of fraud hampering your financing decisions?
Mitigate the risk and free-up SME financing support?
What about compromising customer data confidentiality?
Secure compliance and protect data privacy
Embrace RIVO - the collaborative trade finance platform
Recent years have seen a dramatic rise in duplicate trade financing fraud, resulting in billions of dollars being lost, many financiers reviewing their appetite for risk and a further increase in the trade finance gap. Although regulators are applying greater pressure to mitigate this risk while protecting customer data confidentiality, many financiers are still struggling to identify when they might be asked for finance against the same invoice as someone else.
Invoice validation and fraud prevention
Our invoice validation and fraud prevention solution has been designed to do just that, carrying out an effective invoice comparison process using a global validation database via the sharing of hashed crypto document fingerprints.
Based on SHA256 technology – the leading globally accepted cryptographic hashing algorithm for data protection and integrity – our solution allows any financier to check and compare trade documents without having to disclose any customer information at all.
How it helps
- Mitigate risk and reduce loss with unique invoice identifiers enabling visibility and identification of multiple finance requests.
- Maintain security and compliance with on-premise deployment for total data privacy maintained only with hashed crypto invoice fingerprints sent to the global validation database.
- Collaborate with peers through our easily integrated, open API-based solution to resolve any fuzzy matches and prevent duplicate financing fraud losses before they happen.
- Optimize visibility with reports to show which documents are being checked and the status of each. Alerting you to duplicate financing requests and helping to mitigate potential loss.