Standard Chartered unveils digital trade portal Trade Track-It

Customers can track vessels and check sustainability compliance.

Standard Chartered has introduced Trade Track-It, a digital trade transaction portal offering clients end-to-end visibility of their trade transaction status globally, according to a press release.

The portal makes use of DHL’s tracking system and Lloyd’s List Intelligence’s vessel tracking system to provide customers and counterparties with 24/7 access to near real time updates for trade transactions, document delivery, and vessel status.

Prior to the Trade Track-It portal, Standard Chartered’s clients would need to contact the bank directly to check on their trade transactions. This takes a few hours to days depending on the complexity of the transaction.

Before the introduction of Trade Track-It, clients would need to contact the Bank to check on the 
Trade Track-It also offers vessel tracking functionality which allows them to track the geo-location and movements of their trade linked ocean shipments, providing near real time visibility and better planning.

Clients can also check whether their trade transactions meet the bank’s sustainable trade finance standards using the platform. A sustainability indicator will reportedly be reflected if the criteria based on the bank’s proprietary sustainable trade finance framework are met.