Over the past 2-3 decades there have been many attempts to digitise parts of the trade and trade finance process, but it’s the complexity of trade that remains the challenge. Most successful attempts at digitisation have had to bite off a small piece of the problem and this has led to silos or what I call a ‘digital island’ phenomena.
This short note explores the potential second order effect of Blockchain and other new technologies on the Trade Finance ecosystem.
Despite today’s climate of rising trade tariffs and falling trade volumes, UniCredit’s Global Head of Global Transaction Banking, Luca Corsini, claims we have reason to remain optimistic for trade finance revenues in the coming months, pointing to the rising need for security in trade transactions, the rise of digital platforms to simplify and expand service provision, and continued infrastructure development stemming from Asia
The mobile phone revolution was ignited by Apple, but democratized by Google and enabled by an implementation of an open-source operating system, now called Android.
London, UK & Swieqi, Malta – September 17, 2019: VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, announces a memorandum of understanding (MOU) with essDOCS, a leading enabler… read more →
The Asian Development Bank (ADB) has released the results of the 2019 rendition of their annual Trade Finance Gaps, Growth, and Jobs Survey. ADB’s vast network of respondents includes 112 banks from 47 countries, 53 export credit agencies from 17 countries, 39 forfaiters from 20 countries, and 336 other firms from 68 different countries around the globe.
All global industries require standards. Remember what a huge step forward it was when the carrier industry agreed on the design for a shipping container. The same is true for electronic trade documents and their supporting systems.
TFG heard from Accenture’s Cecile Andre Leruste, on the major digitisation initiatives within the commodiy finance space. Commodity finance is in a phase of major transition, driven by multiple megatrends
The next generation of technology-led financial services innovators are disrupting the industry in a big way, and TFG’s Deepesh Patel caught up with Natalie Ceeney CBE, Chair of Innovate Finance, at WCBI.
Trade Finance Global (TFG), announces that it joins Innovate Finance, the leading UK industry body and independent membership association for FinTech.
September 11, 2019 (Dubai / London) – National Bank of Fujairah PJSC (NBF), one of the
leading bank in the Middle East announced today that it has become a member of the Marco
Polo Network, the largest and fastest growing trade finance network.
Global law practice Eversheds Sutherland appointed as legal counsel for blockchain trade platform eTradeConnect to help the consortia tackle legal challenges related to the use of blockchain in trade finance.
SINGAPORE, Sept. 3, 2019 /PRNewswire/ — The UAE’s Abu Dhabi Commercial Bank (ADCB) has digitised trade finance for its customers using the Singapore-based dltledgers Blockchain platform. ADCB today reported completion of its first… read more →
Fintech, Wethaq, has signed a strategic partnership with enterprise blockchain software firm R3 to build the next generation of financial market infrastructure to enable issuers, investors, central banks and regulators… read more →