Leading Swiss Companies found the Association “Swiss Digital Trade Platform”
The organizations Swiss Post, Novartis, Swiss Export Risk Insurance, Zurich and the Swiss FinTech Innovation Lab of the University of Zurich found the association “Swiss Digital Trade Platform”. The digital integration platform promotes the networking of all players involved in cross-border trade with the aim of using the latest technologies to handle trade more efficiently to create new business opportunities.
The global distribution of production has significantly advanced the globalization of the economy over the last decades. However, many paper-based and redundant process activities remain major obstacles. For example, a Maersk shipment with flowers from Kenya into the port of Rotterdam resulted in a pile of nearly 200 documents! In addition paper work related to transport, insurance, compliance guidelines, permits, customs documents, trade finance pose key issues. For Switzerland, as the leading export nation with a volume of approx. CHF 304 billion in 2018, the optimal management of the processes associated with trading is therefore a key success factor.
Using innovative technologies such as eID, Blockchain, Internet of Things (IoT) or APIs, the “Swiss Digital Trade Platform” focuses on promoting the inter-connectedness of all trade related players such as exporters and importers as customers, as well as insurance companies, financial service providers, freight forwarders, certifiers or authorities as service providers. Processes and data of the actors of all relevant services are bundled and digitally made available to the involved parties. Examples include fully digitized shipping insurance, logistics documents or compliance data. To this end, Swiss Post, Novartis, Swiss Export Risk Insurance, Zurich and the Swiss FinTech Innovation Lab of the University of Zurich joined forces in all the relevant sectors in the “Swiss Digital Trade Platform” association. The association also works closely with relevant federal agencies and seeks to cooperate with other international initiatives, such as those in China or Singapore, where, other similar platforms are currently being developed.
The potential of the platform is enormous. While customers achieve lower transaction costs through automation and better comparability of offerings, service providers reduce acquisition and processing costs. In addition to effectiveness and efficiency, completely new services are conceivable, such as the identification of new business opportunities through the connection to other digital platforms.
About Swiss Digital Trade Platform
The Swiss Digital Trade Platform was founded in June 2019 and is headquartered in Zurich. The board consists of Marco Lardi (Post CH AG, Vice-President), Oktay Eser (Novartis Pharma AG), Claudio Franzetti (SERV, Vice-President), Thomas Puschmann (Swiss FinTech Innovation Lab of the University of Zurich, President) and Bohumil Matousek (Zurich Insurance Company Ltd).
The aim of the association is to make Switzerland the leading nation in the field of digitized trade.
The association is open to other members, customers or service providers from all sectors.