VCC Participated in the MUFG Bank Insights Seminar

  Published on 18 September, 2019

VCC Participated in the MUFG Bank Insights Seminar

  Published on 18 September, 2019

VCC Participated in the MUFG Bank Insights Seminar

  Published on 18 September, 2019

VCC Participated in the MUFG Bank Insights Seminar

  Published on 18 September, 2019

Transforming Trade through Digitalisation with CamelONE™ Trade Finance

The past month was very eventful for VCC as we were invited by MUFG Bank to join them at their seminars which were held on 30th August and 11th September. On both dates, the seminar room was filled with attendees who were keen to find out more about how digitalisation can help them adapt to today’s fast-changing environment. With the on-going uncertainties in global trade tensions, it is essential for corporates to embrace digitalisation, to remain resilient in their trade activities.

Both Mr Jose Lim, Product Development Director of vCargo Cloud and Mr John Khaw, Business Development Manager of vCargo Cloud, shared about the upcoming multi-bank portal solution, CamelONE Trade Finance, which is also a value-added service that will be available on NTP. With this portal, it saves time on data re-entry and improves data accuracy by reusing trade-related data stored in NTP’s repository to auto-populate application forms fields.

MUFG had put in a lot of effort to engage attendees to make the seminar more interesting by adding in polls, to get people to vote and at the same time, it helped speakers to understand attendees’ concerns and to for speakers to address their concerns.

At both seminars, there was an interactive panel discussion, with representatives from Enterprise Singapore, Info-communications Media Development Authority, Monetary Authority of Singapore, Networked Trade Platform and lastly, our very own Mr Desmond Tay, CEO of VCC. The moderator was Mr Azim Walli, Managing Director, Head of Trade & Supply Chain Products for Asia from MUFG. There were a few serious questions brought up during the discussion, but Mr Azim managed to lighten some of the moments with some humour, ensuring all the audience are kept engaged.

One question brought up during the discussion was what are the supports available to help corporates overcome the challenges of moving from paper-based transaction flow to paperless transactions. Ms Choo Wai Yee, Deputy Director, Networked Trade Platform, shared that most or all businesses already have data and are digitised by using system such as ERP or some other systems. The challenge is to connect to other business partner and this is where NTP can help plug the gap. Companies don’t have to build digital connectivity one partner at a time.

For VCC, our efforts in helping corporates to digitalise are through projects such as CamelONE Trade Finance, supporting both the government and private sector to help the trade industry to digitalise.

VCC’s booth at MUFG’s seminar

Mr Jose Lim, Product Development Director of vCargo Cloud, speaking at the 30th August Seminar

Mr John Khaw, Business Development Manager of vCargo Cloud, speaking at the 11th September seminar

Panelists of the interactive panel discussion are (From Left to Right) Mr Jesse Satria Oeni, Deputy Director, Enterprise Singapore, Mr Ivan Koh, Deputy Director, Infocomm Media Development Authority, Ms Michelle Tan, Deputy Director, Monetary Authority of Singapore, Ms Choo Wai Yee, Deputy Director, Networked Trade Platform Office and Mr Desmond Tay, CEO of VCargo Cloud