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Tinubu Square launches innovation lab for insurance and banking industry
Last update: 26/04/2018

KUALA LUMPUR, April 26 (Bernama) -- Tinubu Square -- the industry leader in trade credit, surety and trade finance solutions launched its Innovation LAB, focusing on blockchain, advanced integration and deep analytics for insurance and banking industry applications.

The Innovation LAB will explore opportunities for trade credit platform solutions and investigate emerging technologies before they disrupt the market, a statement said.

Newly appointed head of Tinubu Square’s LAB, Sébastien Méric said the company have two core principles with regards to the LAB.

“The first is to ensure that everything we are going to develop becomes integral to our existing enterprise best-in-class platform and secondly, that we innovate collaboratively with clients so that their needs and realities are addressed first,” said Méric.

The LAB will focus on key issues, including blockchain, the externalization of data to the distributed ledger, powerful data security, cryptocurrency implications, automation and multiparty workflows.

As information sharing over the web has become commonplace, the launch of data sharing through DLTs is one of the next steps to knowledge sharing. Tinubu Square will bring its clients new toolsets to use those technologies directly from its platform and provide functionality to assist with integration by many parties involved in trade transactions.

Senior vice-president Insurance and Working Capital Solutions at Export Development Canada (EDC), Clive Witter said the company has implemented innovative products through a long-term partnership with Tinubu Square and EDC has high expectations of Tinubu to bring cutting edge technologies with predictable outcomes and benefits.

Witter added that in 2015, EDC launched Select Credit Insurance -- offering Canadian companies Export Credit Insurance on select foreign buyers fully online in a few minutes -- compared to a 15-day offline process before.



-- BERNAMA

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