M1 NXT-International Trade Financing Services Platform

M1 NXT

International Trade Financing Services Platform

M1 NXT, a next-generation leading provider of working capital solutions, is a future-ready, seamless, competitive, secure, and paperless online platform. It is a digital marketplace for international factoring products, with approval received for conducting sandbox testing under the regulator’s supervision.

The platform enables buyers and suppliers to select when to pay and when to be paid, freeing up funds for all businesses to prosper.

Mynd IFSC Pvt Ltd is the operator of M1 NXT platform

Specializes in cross border transactions & finances trade globally for sales/purchase made on open account

Approved by International Financial Services Centres Authority (IFSCA) to setup the International Trade Financing Services Platform in the GIFT City

Unique Platform in the Global Trade Landscape with key differential features

Key Differentiators

Key Participants & Benefits

Suppliers

Easy, fast finance of receivables at competitive rates
Without recourse finance
Off balance sheet finance
Minimum and simple documentation
Risk on Buyers
Receipt of funds within 48 hrs from acceptance of DOA

Financial Institutions

Opportunity to build quality asset portfolio in international space
Reduced operational cost along with improved reach to build clientele
Ease of operation with minimum documentation
Facility to make better decision making through key information availability

Buyers

Optimize working capital
Saving on finance costs by extending credit period
Not a borrowing but replacement of sundry creditor
Improved Vendor management
Lower administration cost for vendor financing, payments and settlements

Digital Ecosystem

Deployable solution & connected ecosystem

Banking

Digital process from onboarding to financing and collection
Credit protection by dual factor
Collection services by corresponding factor
Rule-based transaction controls limit setting at buyer- seller combination level
Multi currency transaction and limit management
Overall buyer-seller score basis previous payment & transaction history

Integrations

Legal Framework

Use of digital signatures
Agreements - Buyer/Seller/Financier secured in e-depository
DOA & its acceptance
Validation of invoices
KYC & AML records update
Defaults record updation

Export Factoring in the Platform

Digital onboarding of sellers, Export Factoring/Import Factoring, buyer and Insurance company.

Bidding process for each invoice. Transactional checks by platform. Payments currently as per existing mechanism.

Export Factoring/Import Factoring, undertake credit risk assessment and set up limits. Digital KYC, transaction-based DoA and NoA.

Export factor has an option to choose between an insurance company or import factor for buyer coverage as per own risk appetite.

Export Factoring in the Platform

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