ICCA Charter Magazine
Octet Finance, an Australian financial services provider, has pioneered a new business transaction facility that promotes the timely exchange of money across borders, without painful logistics. This ensures that the working capital cycle is accelerated, resulting in increased volume exchanged in goods through trade. Clive Isenberg, managing director of Octet Finance says: “Our smartcard is the first of its type to offer a complete suite of services for businesses trading in foreign markets, specifically China and Hong Kong. Businesses using our business transaction facility are provided with unsecured finance with an interest free period, a reward program and an online portal to monitor all transactions.”
Octet has developed a new generation of international financing solutions using unsecured trade loans to facilitate the rapid exchange of funds between buyer and seller. This new web- enabled international financing mechanism will use digital certificates stored on smart cards for user authentication and digital signatures for documenting transaction authorisation.
The online portal developed by Octet was made eligible for the Research and Development Tax Concession from the federal government in recognition of the innovative nature of the product and services it provides, including;
- development of a web-enabled letter of credit documentation process
- functional deployment of unsecured trade loans provided to the buyer for the value(s) of the goods being purchased with speed and accuracy
- communication avenue between the buyer and seller to clarify terms and conditions of sales, granting of credit risk limit, purchase order, pricing terms and receipt of goods and payment acknowledgement.
Octet’s secure web portal has significantly improved business operations between seller and importer, allowing communication, transaction monitoring and settlements to be convenient, renewable and more controlled. This streamlines trading practices for importers and exporters, saving time and money by circumventing lengthy loan approval processes.
Visit www.octetfinance.com for more details on the full range of services provided.