Trade finance marketplace LiquidX has revealed its new 360 platform, bringing together its working capital, trade credit insurance and supply chain finance solutions on one cloud-based platform.

The new multi-product solution is being launched in a phased approach. GTR understands that the supply chain financing solution is already live on the platform, while accounts receivables and insurance functions are still in the process of being integrated.

By the end of May, the new platform will be fully up and running with the entire product suite and the necessary players onboarded.

The insurance carriers will remain hosted on the old platform for the time being, enabling companies which have not yet migrated to the 360 platform to still make enquiries.

LiquidX’s trade credit insurance platform, which saw the fintech firm work with insurance broker Marsh, and underwriters Euler Hermes and Atradius, went live in March 2019.

At the end of last year, LiquidX’s supply chain finance solution was launched in the US. At the time, GTR was told it was the “logical progression” for the company in terms of its working capital offerings.

“It’s all around efficiency,” Ali Hackett, LiquidX’s chief revenue officer, tells GTR, commenting on the new platform. “Before, you would have had to install the application. Now you log in via a single sign-in – from a client experience perspective, it is much better.”

Hackett joined LiquidX in February after former managing director Glenn Kocher exited the firm to take up a managing director role at financial services group Nomura.

Campbell Peters, who joined LiquidX this month in an analyst role from software company First Derivatives, and who reports to Hackett, tells GTR: “It’s about bringing all the different functionalities that LiquidX offers – the insurance, the accounts receivables, the supply chain finance, etc – under one platform and making it more user-friendly.”

Hackett says the fintech firm is also looking at new asset classes to integrate, pointing to loans and revolving credit facilities. “It depends on what our clients require,” she adds.

Banks joining the platform may want to use it for secondary market distribution, a functionality that will be made available in the summer. “In this environment, where banks’ balance sheets are getting tighter and tighter, any bank that doesn’t have their current platform built for that [distribution] may come to us to help them. The more that people work remotely as well, the more the impact of reduced direct relationship meetings and onboarding starts to affect distribution.”

Hackett explains the relationship between fintech companies and banks has changed, and that LiquidX now sees more banks wanting to connect with them.

“At one time, the banks looked at us as maybe taking their space, but we’re not doing that at all. We see increased bank uptake and are looking at doing more bank-to-bank services,” she says.