Fluent Announces Bank Pilot of Enterprise Software Platform the Fluent Network
Fluent, the financial operating network for global commerce built on blockchain technology, introduces their enterprise software platform, the Fluent Network, currently in a pilot program with a Forbes Top-10 ‘best’ bank.
At its core, the Fluent Network is a secure distributed ledger purpose-built for banks, financial institutions, and global enterprises. Fluent has developed a suite of applications and solutions on top of the network to increase efficiency and transparency, provide flexibility, and enhance collaboration across global supply chains. Fluent closed its pre-seed financing in November 2015, with participation from institutional investors that include Draper Associates, Thomson Reuters, 500 Startups, UMB Bank, SixThirty, and others. Fluent has offices in St. Louis, San Mateo, and Lexington, KY with a diverse team of nine full-time.
The Fluent Network is a reflection of the evolution of the organization, the value proposition, and the future vision of Fluent.
“A network allows the whole to be exponentially greater than the sum of its parts and eliminates the inefficiencies that exist in disconnected systems,” said Lamar Wilson, CEO, Fluent. “There is no space where this is more important than global supply chains, who have dealt with siloed systems for far too long. We are here to close the gap between businesses and banks across our secure financial operating network.”
The Fluent network allows frictionless financial flows across global supply chains running in tandem with information and business logic. Simply put, this combination enables smarter, faster, more efficient, and more secure corporate finance and cross-border commerce for large enterprises.
Supply chain is the latest use-case to feel the spotlight of the Blockchain industry with opportunities in payments, tracking goods, and trade finance. Fluent has differentiated itself in this rapidly growing space by focusing strictly on the end user above all else.
“Fluent spent eight months prior to development, interviewing CFOs, treasurers, corporate finance executives, and heads of accounts payable to gain intimate knowledge of the problems, pain, and inefficiencies they deal with in their financial supply chain operations,” said Dave Sutter, COO, Fluent. “We then identified specific instances where blockchain technology and a distributed financial network could provide a qualitative advantage over traditional systems for global enterprises.”
Fluent developed a working enterprise software platform in an industry whose focus has been primarily on infrastructure for financial institutions and use-cases. Solutions on the fluent network include a real-time payment platform, supply chain management tools, approved payables financing, and a multi-lender receivables marketplace. Currently, Fluent is in the middle of a pilot program with an undisclosed Top-10 bank on Forbes’ 2015 America’s Best Bank list, establishing connectivity with the goal of going live upon completion. Fluent is demoing their platform, Fluent Network, to other large financial institutions and Fortune 5000 companies in the US and abroad.
Additionally, Fluent has unveiled a new website, fluent.network, which includes more information about the Fluent Network and the solutions provided to banks, enterprises, lenders, and developers. The new website displays a collection of past news publications, original content, and their board of advisors. This announcement represents a departure from the previously close-lipped startup.
“The financial supply chain space has needed an overhaul for a long time,” said Sutter. “We are steadfast and confident in both our platform, our team, and our market fit in the fastest growing space in fintech.”
Fluent is the financial operating network for global commerce. Founded in 2014, Fluent is DBA of Love Will Inc. Fluent connects banks and businesses on a distributed financial database that provides a frictionless operating network for large enterprises and their global supply chains. Fluent has built a suite of solutions on top of their blockchain-based network increase efficiency, provide flexibility, and enhance collaboration across global supply chains.