DP World partners with UAE Trade Connect platform to combat fraud

DP World partners with UAE Trade Connect platform to combat fraud

Dubai: DP World Trade Finance, a fintech platform owned by DP World, has partnered with UAE Trade Connect (UTC) to transform trade finance and combat fraud across the UAE. With the partnership, DP World Trade Finance could leverage UTC’s platform to detect fraudulent and suspicious invoices as a risk mitigant for its lending capability, said the company on Monday.



DP World Trade Finance is the first non-bank financial institution participant with direct lending capabilities and embedded fintech value proposition to join the UTC consortium. Created in 2021, UTC is a blockchain-enabled consortium-led trade finance solution co-created by e& enterprise and the UAE banking industry.





Sinan Ozcan, Senior Executive Officer of DP World Trade Finance, said, “If we are to address the trade finance gap truly, we need organisations to work together to build transparency and security into financial