TRADE X Enhances and Expands its Innovative 'Brain' Platform
Company expands data science team as it enhances Brain capabilities, and advances its strategic focus to add more international trading corridors
TORONTO, June 2, 2022 /PRNewswire/ -- TRADE X, a global B2B cross-border automotive trading platform based in Canada, today announced that it is enhancing and expanding the reach of its end-to-end platform for global automotive trade by further bolstering its data science team, who will focus on leveraging the platform's data and analytical capabilities to support the company's strategic focus of adding new international trading corridors.
The TRADE X 'Brain' platform is a machine-learning, AI-driven technology that provides insights into global vehicle availability and valuation and is powered by unique models that identify regions where certain automotive makes and models are in highest demand.
Through its trading network, TRADE X connects global automotive buyers and sellers. The company recently launched an ambitious expansion plan to open numerous new international trade corridors over the next 12 months. When using the TRADE X platform, customers gain trust, control, and insights into all aspects of global trading, including title management, buyer/seller sourcing and connectivity, customs and border process, regulation and admissibility requirements, taxation and fees, supply chain and logistics, condition and servicing of inventory, as well as the processing of complex multiparty financial transactions in different currencies.
"As supply chains undergo a once-in-a-generation reconfiguration, cross-border delivery has become more complex," said TRADE X Executive Vice President and Chief Operating Officer Luciano Butera. "TRADE X is at the forefront of import/export modernization by removing the friction in global vehicle trading, creating new and better options to connect automotive dealers globally, and reducing counterparty risk."
The company connects pools of demand in emerging markets to a global supply network, solving for lack of availability in smaller jurisdictions. As more buyers and sellers are enabled to move inventory across international borders, TRADE X is quickly building its market share while expanding the total addressable market.
TRADE X Chief Data Scientist Wally Trenholm, who designed TRADE X's state-of-the-art 'Brain' platform, is adding another accomplished data professional to his team, bringing on Maithili (Mai) Mavinkurve as Vice President of Data. She will focus on leading the governance of TRADE X's growing data asset portfolio to better support integration and improve how dealers buy and sell pre-owned automobiles globally.
"TRADE X provides the trust infrastructure for the next generation of international trade," Trenholm said. "The value of the data assets produced by our end-to-end trading system will provide deep insights into the rapidly changing environment around one of the most important datasets for the global economy. We're excited to add Mai to our growing team and to further facilitate trading opportunities between both established and emerging economies globally."
About TRADE X
With headquarters in Ontario, Canada, TRADE X is the first global vehicle marketplace to aggregate cross-border supply and demand for car dealers, fleet owners, rental companies, mobility solution providers, importers, and exporters, opening new trading corridors to buy and sell vehicles. The TRADE X 'Brain' platform is a machine-learning, AI-driven technology that connects buyers and sellers through a transparent marketplace that aids sellers in finding the world's highest bidders and gives buyers access to the best source markets and price arbitrage opportunities. Users can quickly and seamlessly transact online in a secure environment with all the complexities of international trade – compliance, anti-money laundering regulations, vehicle inspection, currency exchange, digital trade documentation, payments, and financing – all managed by TRADE X. The company serves authorized buyers and sellers everywhere with a user-friendly app available 24/7 via mobile, tablet, or desktop. TRADE X's largest investors include Aimia Inc., a publicly traded holding company listed on the Toronto Stock Exchange (TSX: AIM). To learn more, please visit www.tradexport.com.
Media Contact:
John Hanlon
JConnelly
(973) 796-6106
[email protected]
Company Contact:
Shelley Keller
TRADE X
[email protected]
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