Cogworx have been working with UK Export Finance (UKEF) to improve their Digital Trade Finance Service since March 2019.
The Digital Trade Finance Service (DTFS) enables banks to provide financial support to UK exporters who need it to fulfil an export contract, by sharing the risk for this trade finance with the UK Government.
Cogworx has embedded a researcher, service design and content designer within the service team, as well as bringing in our technology partner, Foundry4 to architect and build the service.
Working alongside civil servants, we have most recently been developing concepts for a new back-office service for civil servants to process applications for trade finance cover and in August that was submitted for an Alpha service assessment by the Government Digital Service (GDS).
A huge congratulations to everyone in the service team for all of their hard work on this!
About UK Export Finance
They work with over 100 private credit insurers and lenders to help UK companies access export finance.
They exist to complement not compete with the private sector.
They help UK companies to:
Win export contracts by providing attractive financing terms to their buyers
Fulfil contracts by supporting working capital loans
Get paid by insuring against buyer default