XTransfer releases the 2024 Small and Medium Enterprises Export Trade (B2B) Fund Security Risk Report

During the 135th Canton Fair, the Greater Bay Area "9+2" Importers and Exporters Association successfully built the "Greater Bay Area '9+2' City Import and Export Economic and Trade Activity Zone" in the atrium garden of Area A of the Canton Fair Complex. On April 24, the "Guangdong-Hong Kong-Macao Greater Bay Area '9+2' Chamber of Commerce Overseas Project Release Conference" was successfully held in the activity area. XTransfer, China's No. 1 B2B foreign trade financial platform, was invited to participate in the conference as a director of the Guangdong Chamber of Import and Export. Zheng Kai, co-founder and CSO of XTransfer, released the first "2024 Small and Medium-sized Enterprises Export Trade (B2B) Fund Security Risk Report" (hereinafter referred to as the "Report") at the conference.

In the wave of digital transformation, small and medium-sized enterprises need to pay more attention to the security of cross-border funds. The 2024 Government Work Conference proposed that "we should promote the quality and quantity of foreign trade, and optimize cross-border settlement, exchange rate risk management and other services." Improving the cross-border financial service experience of small and medium-sized foreign trade enterprises has become an important means to stabilize foreign trade.

Original fund security risk cases are collected to help enterprises build a risk management system

In the world of foreign trade, every cross-border payment may be a battle with risk. Based on the more than 450,000 small and medium-sized foreign trade enterprises served by XTransfer, XTransfer summarizes the actual cases of fund security risks in the report and provides countermeasures from the perspective of risk control management. Some of these case stories are about the helplessness of losing both money and goods due to forged documents by buyers, some are about the heartache of having profits eaten up by the bank's default exchange, and some are about the lessons of freezing the family's bank cards because of receiving black market payments. This is not only a risk prevention manual, but also the experience and lessons learned by foreign trade people with real money.

"The report introduces the personal experiences of foreign trade professionals and XTransfer's best practices in the field of B2B foreign trade collection, aiming to help small and medium-sized enterprises build a more robust fund security risk management system and gain a head start in the fierce international competition," said Zheng Kai, co-founder and CSO of XTransfer.

Focusing on B2B foreign trade collection for 7 consecutive years, creating the best practices in risk management

XTransfer uses technology as a bridge to connect large Chinese and foreign financial institutions and small and medium-sized enterprises, and has created a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centered on small and medium-sized enterprises. The core of XTransfer's digital risk control system mainly includes an information insight system and a risk control decision analysis system. By analyzing a large amount of user data and transaction behavior, XTransfer uses AI algorithms to build risk assessment models, identify potential risks and fraudulent behaviors, improve the security and accuracy of transactions, and ensure that on the basis of cross-border transaction security and compliance, it brings a more convenient experience to small and medium-sized enterprises.

"XTransfer summarizes its risk control practices over the past seven years in the report, aiming to provide companies with a comprehensive fund security risk management framework, conduct in-depth analysis of the various risks that small and medium-sized enterprises may encounter in export trade, and propose practical risk management strategies." said Zheng Kai, co-founder and CSO of XTransfer.

The Canton Fair brings benefits to the world, and win-win cooperation benefits all parties. The Canton Fair this year presented a scene of "visitors from all directions and merchants gathered", further explaining the influence of China's foreign trade on global trade. As China's first B2B foreign trade financial platform, in the future, XTransfer will continue to strengthen its exploration and practice in the field of fund security risks, further promote cross-border trade facilitation, and help global small and medium-sized enterprises release greater value in international trade.

XTransfer

2024 Small and Medium Enterprises Export Trade (B2B) Funding Security Risk Report