Proxtera’s Global Open API Portal Goes Live!
**Proxtera is a new global trading network for the connected age: empowering wholesale marketplaces to discover new buyers and sellers around the world, transact securely, and access a range of financial and logistics services to support a successful trade. With support from the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA)’s Business Sans Borders (BSB) initiative, Proxtera is creating a new online economy for global trade.**
The new Proxtera trade network is live! The open API documentation is available for any SME marketplace to connect to Proxtera’s global network of buyers and sellers. Leading SME platforms like Global Linker, SourceSage 99SMEB2B, UBX Sentro, and Sokowatch are already plugged in. Proxtera is also deepening its presence in India, Philippines, Singapore, and Kenya, in addition, expansion into Malaysia and Indonesia is also underway. Featured at the Singapore Fintech Festival in December 2020, Proxtera has shown its commitment to a sustainable business model by helping small businesses securely connect to a global market of buyers and sellers.
Proxtera’s API gateway is led by CTO Dr. Naveen Agnihotri and supported by Brankas, a leading Open Finance technology provider. Proxtera APIs enable AI-powered “smart recommendations” for buyers and sellers, real-time cross-platform communications, a seamless user interface, and secure infrastructure to ensure authentic, trusted transactions across borders. Marketplaces connecting to Proxtera can register on a self-serve developer portal and go live within days!
Wholesale marketplaces interested to connect with Proxtera can visit https://proxtera.app/docs. We have made Search APIs (Platform Search, Smart Search, Search Results, Buyer Query, and more) available. This allows smart searches to discover, discuss, decide, and drive trade, as well as value added services such as Escrow Payments and many more to follow.
Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore, “With trade and financial services being reimagined and diversified in the post-COVID global digital economy, Proxtera’s open API portal is dedicated to facilitating digital engagement of FinTechs, Financial institutions and Digital Services with businesses to trade cross border with greater flexibility. We congratulate Proxtera on taking the lead to foster digital services to power open, inclusive, and agile one-stop access to multiple markets and invite the Industry to explore seamless connectivity to such new opportunities via Proxtera.”
Shirish Jain, Proxtera Programme Director remarked: “Proxtera is committed to empowering wholesale marketplaces and their customers to access global trade. The key enabler is to simplify and accelerate onboarding of participating platforms on Proxtera. We are pleased to open up our partner portal - making accessible our APIs and other technical documentation , watch this space as we move towards a zero-touch onboarding of platforms.”
Mr. Kiren Kumar, Deputy Chief Executive, IMDA added: “Connectivity is an essential component when we think about architecting Singapore’s digital future. We are pleased that Proxtera provides that digital connectivity for businesses from multiple global networks to trade easily. This will benefit Singapore’s businesses. Proxtera’s open API portal enables businesses, large and small, on any marketplace to discover and match new buyers, sellers and service providers, facilitating better and more cross border trade opportunities.”
“We are building the next generation platform for the next generation of marketplaces around the world,” said Dr. Naveen Agnihotri, CTO of Proxtera. “By utilizing sophisticated AI and smart matches, we allow SMEs to seamlessly access a much larger ecosystem of buyers, sellers, logistics service providers, financing, and digital solution providers.”
Todd Schweitzer, Brankas CEO remarked: “The Brankas team congratulates Proxtera on a successful launch! We share Proxtera’s mission of applying modern Open Finance technologies to create new business partnerships, reduce barriers, decrease cost and increase access. The Proxtera is one-of-a-kind, and we’re excited to support the Platform and team as they unlock new business opportunities around the world.
How Proxtera Works
Proxtera is a portfolio company of Cerracap Ventures. It is an open global network that connects your platform to a broader network of like-minded platforms across different industries and different countries. In line with its core principles of empowering marketplaces and services providers, as part of registration, Proxtera’s data integration collects only necessary information for trade and security policy which is aligned to global standards. Additionally, integration with Proxtera is via API using JSON format - API documentation is available on the developer portal. Proxtera is a portfolio entity of Cerracap Ventures.
As B2B platforms: Enable buyers and sellers on your marketplaces to access a global network. Proxtera enhances your network through expansion of the demand pool and access to a curated list of SME-centric digital service providers. Proxtera allows you to capture transaction flows as the primary trading platform of your customers, improving customer retention and long-term stickiness.
As service providers: Proxtera is an alternative distribution channel which enables service providers to access new customers in the underserved segments. Through enhanced discoverability on the Proxtera network, service providers can lower customer origination costs by having the customers come to you. In addition, Proxtera will be introducing a sandbox environment for innovative services providers to experiment with new business ideas, test solutions, and simulate product performance.
As trade associations: Proxtera leverages on fast digitalization of your association members by swiftly onboarding them onto a white-labeled B2B platform that supports end-to-end trade, from discovery up until fulfilment. Proxtera enhances connectivity of your members to a network of global demand pool to enable them to showcase local brands and products, simplifying participation in global trade.