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
jhanlon@jconnelly.com
Company Contact:
Shelley
Keller
TRADE X
shelley.keller@tradexport.com
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SOURCE TRADE X; Aimia Inc.