apidays LIVE Singapore 2021 - Digitisation, Connected Services and Embedded Finance April 21 & 22, 2021 Transforming trade with the Networked Trade Platform Choo Wai Yee, Director, Networked Trade Platform at Singapore Customs

2. Networked Trade Platform:
An Overview
As of August 2020

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On 26 September 2018, the Networked Trade Platform was officially launched by the
Minister for Finance
The NTP is a transformational platform, which will take us from a
traditional national single window which gives traders a one-stop
interface for all trade related regulatory transactions, to a one-stop
interface that will enable them to interact with all business partners,
stakeholders and regulators on trade related transactions. This will help
companies raise productivity, boost competitiveness, and uncover new
opportunities…
…Going forward, we must work towards greater connectivity, especially
with our trading partners around the world. Our vision is for this to be a
truly global network, to enable the efficient flow of goods and services,
linked to a secure flow of financing, facilitated by a swift exchange of
data, so that all parties, including regulatory and Customs authorities,
can work together to facilitate trade.
EXCERPT FROM KEYNOTE SPEECH BY DEPUTY
PRIME MINISTER & MINISTER FOR FINANCE,
HENG SWEE KEAT

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One-stop interface that enables interactions with all business partners, stakeholders
and regulators on trade related transactions

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Today’s trade processes are fraught with challenges
International trade
typically involves up to:
25
parties with at least
30-40
trade documents
generated and
60-70%
of information
manually re-entered
at least once
Hardcopy/Email/
Fax/Phone
Electronic Data
Exchange

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Enhance trade efficiency by going digital with document digitalisation and data reuse
Your Data Repository on
the NTP
Purchase Insurance
• Marine Cargo Insurance • Fleet Optimisation
• Last Mile Delivery
• Track & Trace
• Transport Management
System
Prepare Documents
• Cloud ERP
• Workflow Digitisation
& Automation
Finance Trade
• Invoice Financing
Arrange Shipment
• Container Booking
• Freight Management
System
• Warehouse
Management System
Insurance Policy RETURN REQUIRED
REQUIRED
Sales Order RETURN REQUIRED
Bill of Lading REQUIRED REQUIRED
RETURN REQUIRED
Track Shipment
Dispatch Advice REQUIRED
RETURN REQUIRED
REQUIRED
Purchase Order RETURN REQUIRED
REQUIRED
Shipment Detail Specs RETURN REQUIRED
REQUIRED
Packing List REQUIRED
RETURN REQUIRED REQUIRED
Declare Customs
• Cross-Border Service
• eCO Preparation
• Permit Preparation
• Permit Report
• Permit Return
Approved Permit REQUIRED RETURN REQ.
• Freight Invoice
Reconciliation
• Integrated B2B
Payment
• Payment Remittance
Freight Invoice RETURN REQUIRED
Commercial Invoice REQUIRED
RETURN REQUIRED
REQUIRED REQUIRED REQUIRED
Receipt Advice RETURN RETURN
Report & Payment
Remittance Advice RETURN REQ.
Illustrative, not
comprehensive
Legend: Return document from VAS into
your data repository
Required document from your
data repository into VAS

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Ecosystem of trade and trade-related activities
PURCHASE
INSURANCE
UNDERSTAND
MARKET
REPORT &
PAYMENT
FINANCE TRADE
ARRANGE
SHIPMENT AND
TRACKING
PREPARE
DOCUMENTS
DECLARE
CUSTOMS
FTA Optimiser
Insurance
Marketplace
Company /
Credit Risk
Information
Integrated B2B
Payment
Trade Finance
Compliance
Cloud FMS
Track & Trace
eCO Preparation
ACCESS Return
GST Reporting /
Reconciliation
Trade Finance
Multibank Portal
eFreight
Permit Report
Permit Return
CROSS-CUTTING
Marine Cargo
Insurance
Trade News Freight Invoice
Reconciliation
Invoice Financing
Container
Booking
Fleet
Optimisation
Cloud ERP
Trade Permit
Preparation
Doc Message /
Exchange Platform
International
Connectivity
Workflow
Digitisation &
Automation
Doc Standards
Translation
FTA Optimiser
Tariff Finder

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Building an ecosystem of Value-Added Services on the NTP
UNDERSTAND MARKET PREPARE DOCUMENTS FINANCE TRADE

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Building an ecosystem of Value-Added Services on the NTP
PURCHASE INSURANCE ARRANGE SHIPMENT & TRACKING DECLARE CUSTOMS

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Building an ecosystem of Value-Added Services on the NTP
REPORT & PAYMENT CROSS-CUTTING

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DATA REPOSITORY & DATA EXCHANGE SERVICE
OVERVIEW OF NTP CORE FUNCTIONALITIES
VERIFIED DIGITAL IDENTITY &
SINGLE SIGN ON
GOVERNMENT SERVICES
GOVERNMENT-TO-
GOVERNMENT DIGITAL
CONNECTIVITY
APIs
Trade Documents
Digitisation
Document Data
Conversion
Company
Corppass
Document
Tagging
Messages
- Indicates functionalities that are available
Digital Connectivity
with Trade Partners
Certificate Applications and Schemes
• Certificate of Free Sale
• Certificate of Non-Manipulation
• Preferential Certificate of Origin
• Import Certificate and Delivery Verification
• Landing Certificate
• Cargo Agent Import Authorisation
• Vessel Registration
• Kimberly Process License
Single Sign-On
(SSO)
Data Repository
Tasks &
Notifications
Transmit documents with foreign
government through NTP
• China, New Zealand, Australia
Trade Related Services
• Permit Return
• Hand Carried Exports Scheme (HCES)
Submission of Supporting Documents
for Selected Permits

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Neutral
Facilitator
Not-for-
Profit
Open
The Singapore government serves as a neutral facilitator and convener for the NTP – an
open and not-for-profit platform
NOT-FOR-PROFIT
 Lower cost of digitalisation, adoption and usage of the NTP
 Focus on wide spread adoption and deep usage
 Support competitive pricing among service providers
GOVERNMENT AS NEUTRAL, NON-COMMERCIAL “FACILITATOR” &
CONVENER
 Provide utility layer with basic functionalities
 Provide enabling eco-system environment, legal framework & data governance
 Bring various stakeholders together to collaborate (e.g. Trade Finance)
OPEN
 Enable participation from private sector service providers
 Non-exclusivity
NTP

13. TRANSFORMING TRADE – ECOSYSTEM GAINS, NEW SERVCE MADE POSSIBLE
BY DIGITALISATION, DATA, AND API

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Trade Finance Compliance Service Launched on 5th September 2019
Carried by major news agencies and international journals…

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Trade Finance Compliance (TFC) E-Service
Joint government-industry partnership between Singapore Customs, the Monetary Authority
of Singapore (MAS) and leading financial institutions.
Traders can give consent to Singapore Customs to share permit data with financial institutions
of their choice.
Financial institutions can use the information from permit data to boost checks for trade
finance compliance and speed up processing.
1
2
3

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The GAP: How do we know….
… customers’ claim that they have valid import permit is true? Without an import permit, is it possible for them to
claim that they have their hands on the goods and ask the bank to disburse the money to their supplier?
… our bank is not facilitating the export of Military Goods? Without proper permit, how does it jeopardies your role
as a nominated bank (under export L/C)? There is a limitation in manual eyeball check.
… the applicant on the LC is not a logistic provider hired by the ultimate end-user that is sanctioned your bank? Who
is the ultimate end-users as declared to Customs?
…if our banks identification of a goods under LC being ‘dual-use’ is approved by Customs for export?
…what is the industry price for non-commodity goods (e.g CD, garment, shoes)? How can we detect over/under
invoicing more effectively ?
.. what is the historical export price of a product by a specific new-to-bank, fast growing SME? Where can we get
more data to reduce banks’ risk and onboard them and support their growth w/o reduce.

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The GAP Today: No reliable way to check non-commodity price
ABS Trade Services Networking Lunch Poll Result

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AS-IS vs TO-BE
Risk-based
check
100%
Check

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e-services
(API) Name
Consent
required?
Remarks
Companies
Price Check
No Anonymise data that allows users to check for unit price at HSCode level. The output
allows users to check the average, median, inter-quartile price for Inward or Outward
permit in relation to specific trading nation.
Company
Price Check
Yes Company specific data that allows users to check for unit price at HSCode level and
company level. The output allows users to check the historical trade of the user as well
as the unit price.
Trade
Validation
Yes Company specific data that allows users to check if an invoice has an associated permit
for import or export. If it’s a strategic goods, the user will receive more information on
the end users. The check is at item level.
Trade Finance Compliance Checks Via NTP
Note: TFC data is derived from approved permits. These data are collected by Customs for the purposes of issuing
an import or export permit under the Regulation of Imports and Exports Act (RIEA). Thus, traders would need to
authorize Customs to release their data to specific banks for specific purposes.

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Trade Finance Compliance (TFC) E-Service – Why does a trader need to give consent?
Singapore Customs is bound by law to keep your permit data confidential. We
cannot share it with a 3rd party without your permission.
You (Trader) have full control - you decide which bank(s) can view your data, and
what type of data each bank can have access to.
You can give or withdraw consent at any time.

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TFC E-Service – How to Give Consent
Note: Only Business Administrator is allowed to perform this role
Roll over “Partners &
Networks”
1
Click on “Manage
Consent”
2
Click on “New Consent”
3

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TFC E-Service – How to Withdraw Consent
Select the checkbox of the relevant
financial institution and the relevant
Service to which you intend to
withdraw the consent
3
Note: Only Business Administrator is allowed to perform this role
Click on “Withdraw Consent”
4
Roll over “Partners & Networks”
1
Click on “Manage Consent”
2

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Trade Finance Compliance (TFC) E-Service
Key Benefits of NTP’s Trade Finance Compliance (TFC) E-Service
For Banks
Better Risk Management, Compliance
For Traders
Leverage your Permit Data to speed up processing of your Trade Finance applications
Financial institutions can use the information from permit data to boost checks for trade finance compliance and speed
up processing
Retain full control of your permit data at all times
You can give and withdraw consent any time
You can decide which financial institution can access what data

24. www.ntp.gov.sg
© 2018 Singapore Customs