Bankers Helping Bankers to launch a collaborative vendor management platform, powered by Trust Exchange, in late 2022...
Opportunity
Collaborative Intelligence
We are on the threshold of a new era in software platforms where users are no longer the product but are rewarded for their contributions and participation. Backed by our proven success in banking, pharmaceuticals and compliance, we are connecting our Web2 and Web3 platforms to build a networked solution that solves this problem and provides a valuable service to organizations of all sizes and industries.
Every day, consumers integrate social platforms such as Twitter, Facebook, Uber, and Waze into their lives, leveraging them for communication, purchases, and overall convenience. Businesses have lagged in harnessing these powerful social network technologies but we think this is about to change.
Annually, businesses allocate hundreds of billions of dollars to gather and validate data on their counterparts. Predominantly reliant on manual processes or through centralized services and 'bureaus,' these methods are cumbersome and operate at a pace reminiscent of the pre-Internet era. Trust Exchange revolutionizes this critical function by harnessing the power of social network technologies, offering a solution that is not only more efficient but also significantly faster and cost-effective.
Trust Exchange addresses this inefficiency by empowering our clients to build their own custom expert networks. By inviting key participants and fostering collaboration, we facilitate a streamlined approach to solving the data collection and validation problem.
Problem
The monitoring and exchanging of business information between enterprises is a deceivingly complex problem.
- Many layers of “one to many”
- Spreadsheets and standard databases don’t manage this well
- Bound up with repetitive manual transactions and interactions
- The number of interactions grows exponentially as it scales
- Time amplifies the problem: renewals, expiration changes
- Rapidly changing regulations
Product
Introducing Trust Exchange, custom collaboration networks
Through Network Effect Mechanics, our platform creates opportunities for more direct collaboration between people, organizations and things. With 10 x the flexibility, 10 x faster and 10 x cheaper.
Step 1: Creating your custom collaboration networks
Step 2: Connecting with collaborators
Step 3: Activating your network
Traction
Proven Success in Web2
Currently we have over 40,000 users curating, validating and monitoring over 110,000 companies. We also serve several enterprise class organizations in banking, finance, government and green tech. Here are some key use cases:
Direct use case: Financial Services
Custom network of 50 banks, specialists and 700 vendors:
- Better vendor compliance
- Reduced cost 60%
- Recaptured capacity
- A+ from regulators
- PPP Loan forgiveness
- Loan portfolios
- Cannabis compliance
Partner Use Case: ESG Compliance
Private Label Platform deployment, EcoCertify, through its managed offering:
- Targeting Fortune 500
- Embed Standards and best practices into TE
- Automate Compliance monitoring
- Supply Chain Transparency
- Supplier Diversity
Business model
Trust Exchange operates on a SaaS model, offering our clients the capability to establish and manage custom expert networks tailored to their specific needs. Our pricing structure is subscription-based, varying with the network's size and the user count, ensuring scalability and flexibility for organizations of all sizes. Distinguishing our platform further is our pioneering Web3 infrastructure, designed to incentivize data collection and validation through a sophisticated rewards system. This system is powered by a suite of digital assets, which clients can acquire through one-time purchases from our inventory. These assets are integral to powering the network, managing permissions, and fueling the rewards mechanism, thereby facilitating a dynamic, secure, and engaging environment for all users.
The Trust Exchange Virtuous Cycle
Trust Exchange is disrupting the business information market by leveraging our platform to build inverted firms powered by users to deliver:
- Radically different customer experiences
- Significant economic efficiencies
- New use cases
- Expanded total
- addressable market
Vision and strategy
Trust Exchange is at the forefront of this transformative wave, poised to disrupt business information and data analytics industries by harnessing the power of network effects, platform dynamics, and collaborative engagement to unlock unprecedented value for all of our users: client organizations, data curators and validators. Our mission is to build the first and largest collaboration for business information. We believe it is a multi-billion dollar opportunity.
Our Strategy
- Build a world class platform that meets or exceeds stringent scale, reliability and security requirements. DONE!
- Prove stand-alone value in key industries. DONE!
- Prove direct sales model. DONE!
- Recruit operational partners in each industry. IN PROCESS
- Recruit and Activate network effects. IN PROCESS
Proven by early success in banking, finance, government and pharmaceuticals industries, we are ready to unlock the next level of our plan and enter new industries and build out our expert crowd of curators and validators.
Join us as we expand our impact, enter new industries with our proven model and redefine the future of business information.
Leadership
A stellar team with a vast experience in tech
Summary
An efficient, real-time, crowd-powered information marketplace
- Create specialized information networks and subnetworks
- Use curated "network effects” to increase value and timeliness of information
- Dramatically reduce cost of collecting, validating, and analyzing information