Trade Finance Global spoke to Wenhui LIANG at the WTO Global Trade and Blockchain Forum, on the nature of the current state of the global trading and blockchain adoption in global trading.
There is a common miss-conception that four or five multiple banks must be involved to manage letter of credit transactions. These multiple banks include credit issuing banks, advising banks, negotiating banks, confirming banks, and reimbursing banks. What is less understood is that these “banks” are functions, not necessarily physical banks. The trade finance functions these banks perform in a transaction can be done by separate banking institutions or by one bank under UCP 600 guidelines (Uniform Customs and Practice for Documentary Credits, ICC Publication 600).
Listen to this podcast on Spotify, Apple Podcasts, Podbean, Podtail, ListenNotes, TuneIn, PodChaser Season 1, Episode 30 Host: Deepesh Patel, Editor, Trade Finance Global Featuring: Dirk Bullmann, Innovation Team Leader,… read more →
Banks are often slow to adopt the latest technology, and in many cases that is warranted. As highly regulated institutions tasked with protecting valuable data, banks understandably want to avoid “running with scissors.” By starting slow with simply implementing APIs in a few areas, they can begin to modernize and ultimately provide streamlined payments solutions, like RTPs, to their largest pool of customers.
TFG heard Judd Holroyde, Head of Global Product Management, Wells Fargo. We talked about the changing payments landscape, about SWIFT and SWIFT Gpi and how the FinTech creativity can be used as a customer value proposition messenger.
NEW YORK CITY – Businesses large and small have a common challenge: choosing the best, most efficient payment channels for hundreds or thousands of recipients. Deciding between card, wire, automated… read more →
New service links gpi, banks and domestic real-time payments systems· Successful trial with Europe’s TIPS SWIFT today announces the launch of a new service to deliver global instant payments by… read more →
Leading financial services firm chooses FIS Payments-as-a-Service solution to offer real-time payments to corporate clients in nine European countries. FIS managed solution enables financial institutions to cost effectively take advantage… read more →
NatWest has today announced the launch of real time Faster Payments for its FCA regulated Financial Institutions customers, using API (Application Programming Interface) technology to allow customers to make and… read more →
The explosion of fintech has certainly disrupted the financial services sector. From ATMs to facial recognition, we explore the key events in the history of fintech and what developments are… read more →
