we.trade available for all Societe Generale clients

Societe Generale and 12 other European banks began working together in 2017 on a project aiming to make domestic and international trades easier. Previously named Digital Trade Chain, this project led to the creation on the joint-venture company we.trade in February 2018.

In association with IBM , a blockchain-based platform was created to offer clients time and money savings as compared to the previously available solutions based on paper documents exchanges.
Today, Societe Generale announces that all corporate clients based in France have now access to we.trade, the most advanced platform for digitalising, securing and finnacing corporate trades.

After several test phases carried out succesfully by the Bank, W41TP is the first corporate client of Societe Generale to regularly use we.trade. Based in Tours, France, W41TP uses the platform to benefit from payment delays for its purchases of environmental shredders, thanks to the digital payment commitment of the company’s bank, while their German supplier obtains financing quickly and simply.

About the customer experience on we.trade
By connecting to we.trade, clients of the consortium of banks, both buyers and sellers, agree on the terms of a transaction. Upon agreement by both parties, the transaction is undertaken with every event being tracked on the blockchain. When all conditions are met, the buyer's bank automatically triggers the associated payment.

Thanks to blockchain technology, the we.trade platform facilitates and expands the customer experience notably through:
- A shared buyers/sellers view of every step of the transaction process, secured at each node of the chain;
- the possibility to implement a payment guarantee;
- a payment delay financing service.

For more information: https://we-trade.com/

Press contact:
Thomas Alexandre – +33 (0)1 42 13 34 37 – thomas.alexandre@socgen.com