The registry catching duplicate financing fraud across banks that never share their books - built on cryptographic fingerprints and confidential computing.
Trade finance is built on paper - invoices, bills of lading, warehouse receipts - and on a peculiar blind spot. When a business asks a bank to advance cash against an invoice, that bank has no reliable way to know whether a rival lender, sitting behind its own walls, has already financed the very same document. The gap is old, structural, and expensive. Double-funding, re-ageing of invoices, and the financing of fictitious documents drain billions from the system every year.
MonetaGo, founded in New York in 2014, set out to close that gap without asking banks to do the one thing they will never do: hand their customer data to a competitor. Its answer is a registry that works on fingerprints rather than files. When a document is submitted for financing, MonetaGo derives a cryptographic hash of its key data and checks that hash against a global registry - inside a confidential computing environment - to see whether the same document has already been registered elsewhere.
The result is a simple, verifiable rule enforced across institutions that don't talk to each other: one document, one financing. The registry never sees the underlying data. It only answers a yes-or-no question that used to be unanswerable.
“Secure, interoperable systems that enable trusted validation, prevent fraud, and support inclusive economic growth.”
A lender submits key data from a trade document
MonetaGo hashes it into a unique cryptographic fingerprint
The hash is matched against the global registry, privately
Real-time yes/no: already financed, or clear to proceed
A global fraud-prevention registry that fingerprints trade documents and runs real-time duplicate-financing checks inside a confidential computing environment. Distributed through SWIFT's Global API.
An interoperable industry utility - built for the Association of Banks in Singapore - that bridges information silos between local and foreign banks to detect duplicate financing across a whole market.
Registry-based validation that checks invoices and bills of lading against trusted data sources, catching tampering, re-ageing and fictitious documents before money moves.
Plenty of companies digitize trade finance - document scanners, compliance engines, blockchain networks. What sets MonetaGo apart is its stance. It is neutral by design: a shared registry that sits between institutions rather than inside any one of them, and privacy-preserving by construction, because it works only on hashes.
That posture is why standards bodies and central banks treat it as infrastructure rather than software. MonetaGo works alongside the International Chamber of Commerce, ITFA and SWIFT, and its systems went live first in India - now the proving ground for one of the world's busiest receivables markets. India's TReDS exchanges, which rely on MonetaGo for de-duplication, keep setting records for the value of invoices they move.
The competitive alternatives - Cleareye.ai, Traydstream, Contour, Surecomp, or a bank's own in-house checks - tend to solve for a single institution. MonetaGo solves for the space between them, which is exactly where duplicate financing hides.
“Digital public infrastructure for finance and trade.”
Distributes Secure Financing to banks globally via the SWIFT Global API.
Selected MonetaGo to build the national Trade Finance Registry.
Standards and interoperability collaboration for trade fraud prevention.
Partnered on trade finance deduplication capabilities.
Joint work to strengthen fraud prevention in trade finance.
Integrated to protect supply chain financing on India's TReDS.
Jesse Chenard founds MonetaGo, initially exploring blockchain applications for finance.
Secure Financing enters full production in March, deploying duplicate-financing detection on India's TReDS exchanges.
Raises an initial Series A backed by Aurum Venture Partners, Shorewood Capital, C2 Ventures and Fantail Ventures.
Selected by the Association of Banks in Singapore to build a national interoperable fraud registry.
Neil Shonhard becomes CEO; founder Jesse Chenard moves to Executive Chairman.
Wins Fraud Prevention Solution of the Year at the Asia Risk Awards 2024.
MonetaGo operates fraud-prevention infrastructure for trade and supply chain finance. Its Secure Financing system detects duplicate financing by turning trade documents into cryptographic fingerprints and checking them against a global registry, without exposing the underlying data.
It never processes the raw documents. Institutions submit a cryptographic hash of key document data, and matching happens inside a confidential computing environment - so banks can detect shared fraud signals without revealing customer information to each other.
Commercial and central banks, non-bank lenders, TReDS exchanges, factoring companies and banking industry bodies - with deployments in India and Singapore and distribution through SWIFT's Global API.
It was founded in 2014 by Jesse Chenard, who now serves as Executive Chairman. Neil Shonhard became CEO in 2022.
It occurs when a borrower uses the same trade document - such as an invoice or bill of lading - to obtain financing from multiple lenders who cannot see each other's books. MonetaGo's registry catches these overlaps in real time.