WOA took the initiative to survey members, partners and industry leaders in June 2020 about how the virus has affected performance of factoring and commercial finance firms globally.
SMEs need to re-think their innovation strategy including digitalisation as the pandemic has accelerated the shift to digital technology in trade.
Only through collaboration and interoperability with other key technologies like AI, RPA, and the IoT will the path of consortia be effective in making trade finance truly digital.
If regulators and established FIs are to place their faith – and their capital – in Blockchain, it must have a financial crime control framework to match efficiency of the solutions blockchain offers.
TFG heard from World Economic Forum’s Ziyang Fan on bringing policymakers, innovators and technologists together to work hand in hand to solve some of the global challenges.
Farmers are losing money regardless of their size, defaulting on existing facilities, and as such financiers are exiting structured commodity finance due to credit and compliance risks.
Collective action by sector players concentrating on continuing education, enabling women’s access to financial markets, and directing women to more value-added businesses can be a solution to remove barriers and promote women in trade.
Considering the stakes involved in managing the AML/KYC compliances are high, banks/ FI should carefully assess the options available with them and look holistically to mitigate the risk.
SMEs need to explore innovative financing options like trade credit insurance as they plan and prepare for the “new normal”.
By leveraging technology for insights, a banker can make well-informed decisions, in compliance with audit and ethics, which are in the best interest of the bank.
TFG heard from BACB’s Jeff Fallon, arguing that deeper Africa-Europe integration will be challenging in the new environment – here’s why.
The economic consequences of the COVID-19 pandemic are of an unprecedented scale in Europe. The twin supply-demand shock has resulted in the halting of production (at least partially) in many… read more →
TFG heard from IFC’s Qamar Saleem on the impact of Supply Chain Finance on domestic banks (and in turn, MSMEs,) in emerging and developing markets.
As an island nation reliant on global supply chains, trade is essential if the UK is to overcome the unprecedented economic challenge posed by COVID-19.