OneConfirm

Introduction

Confirmations is the first step in commodity and financial products trading lifecycle. Sending/Exchanging information continues to be a highly manual and paper-based process. Digitalization & Automation is the key towards an Integrated ecosystem of solutions. Failure to automate the processes invites Market, Credit and Reputational risks due to:

  • Inefficient Processing (using combination of electronic and manual steps)
  • Increased Human Error/Costs
  • Faulty Communication leading to unintended delays
  • Lack of Auditability/Compliance

“OneConfirm digitally exchanges data and is the impetus for Smart Contracts that generates a unique token for end-to-end commodity management on a Blockchain” – Vikas Wadhera, Founder, OneCore global

OneConfirm provides a data-driven digital confirmation process management platform that utilizes our patent-pending technology which allows for managing multiple data formats/sets based on Counterpart, Commodity, Instrument Traded, Region or other attributes.

    How it Works

  • Setup Counterparts (or choose from existing list)
  • Setup Data Format/Templates
  • Send Data
  • Receive Approvals/Alerts
  • No Human intervention unless dispute arises

   What It Supports

  • Initial Trade Confirmations
  • Price Confirmations
  • Trade Amendments & Trade Optionality Declaration
  • Lifecycle Confirmations such as Notice of Readiness, Price Fixing
  • Onboard Communication between counterparts

Value it Provides

  • Operational Efficiency
    • Productivity Improvement & Cost Reduction
    • Cycle Time Reduction – through faster processing time
  • Risk Management
    • Improved Decision Making and Planning
    • Better Resource Management
  • Technology
    • Automated and Integrated Ecosystem
    • SaaS Delivery resulting in low infra cost
  • Organizational and Strategic
    • Support Business Growth
    • Support Implementing
    • Organizational changes

Key Features

  • Do Nothing – to send confirmations to your counterparts, brokers, and other business partners in real-time
  • 3 Clicks to Approvals – View/Review/Approve – 3 steps to send approvals
  • Automation – Approvals are received in minutes instead of days and update the E/CTRM
  • Communicate with counterparts etc. via the platform – No need to send emails or phone calls
  • Matching – Bilateral Confirmation Matching with color coded results
  • Attach external documents (if necessary)
  • Access fully Audited data including communication, approvals, and attachments
  • KPIs and Process monitors
  • Aging Report

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