Cross-border payments can play a special role for people and businesses around the world. They allow us to send money to our loved ones, book a holiday of a lifetime, or start a business in another country.
Category: Technology
Interoperability: The way forward to develop digital trade!
Over the last couple of years, we have seen an escalating development of digitalising trade. Fuelled by the obvious benefits, such as reduction of funding, courier, and administration costs, as well as the safety and speed of transferring trade documents digitally.
VIDEO | Future-proofing trade finance: The digital transformation journey with Cleareye
Transitioning from documents to pixels, from cash to virtual payment gateways, and from local markets to international ones, the sweeping transformation of global trade into the digital world is redesigning the trade finance ecosystem. The alliance between ClearEye and J.P. Morgan represents the metamorphosis of the future of trade finance digitisation.
Q&A: Visa’s Veronica Fernandez on moving from traditional to seamless consumer experiences with embedded finance
To learn about this hidden, but vital aspect of finance, Trade Finance Global’s Brian Canup (BC) spoke to Veronica Fernandez (VF), Senior Vice President and Regional Head of Visa Commercial Solutions for North America at Visa.
PODCAST | How to prepare for Sibos 2023 – Updates from Swift
In this episode of Trade Finance Talks, TFG’s Deepesh Patel was joined by Shirish Wadivkar, Global Head – Wholesale Payments & Trade Strategy at Swift, to uncover the conference’s core themes, the latest Swift initiatives, and strategies to prepare for Sibos 2023.
Navigating the future of digital payments: Efficiency, security, and compliance
In an era marked by technological advancement and rapid digitisation, the landscape of financial transactions has undergone a transformative shift. Traditional modes of payment, such as checks and physical currency, have given way to the convenience and efficiency of digital payments.
ADB Report: Trade finance gap grows to $2.5tn, and sustainability remains a key strategy
ADB’s flagship Trade Finance Gaps Survey returns for its eighth edition, confirming expectations that the global trade finance gap – unmet demand for trade financing – has worsened, reaching $2.5 trillion, an increase of 47% since the last stock-taking which pegged the gap at $1.7 trillion in 2020.
Launch: FIT Alliance brings 5 industry leaders together to move eBL digitalisation forward
The FIT Alliance, formed of BIMCO, DCSA, FIATA, ICC, and Swift, has initiated the “Electronic Bill of Lading Declaration” to enhance the efficiency, reliability, sustainability, and security of global trade through the use of electronic Bills of Lading (eBLs).
Bridging the trade finance gap: Absa’s digital journey in Africa
In the wake of the pandemic, the global economy has seen a confluence of challenges, including geopolitical risks, interest rate changes, and commodity price fluctuations.
Industry collaboration is a catalyst for truly digital trade
From payments, credit and lending, to trade and supply chain finance, the entire financial services industry is being disrupted. Regulatory requirements, industry standards and the environmental, social, and governance (ESG) agenda have accelerated.
The game changer in Open Banking: B2B integration
Since B2B can attract the most money, the focus quickly turned to helping the corporate treasurer, the SME, and the B2B space.
From starboard surprises to portside perils: Inherent risks in the shipping industry
90% of world trade – from bulk raw commodities to breakbulk and finished goods – is moved on approximately 60,000 trading ships, crewed by about 1.5 million seafarers. To most traders, the potential risks associated with any one of these vessels is an unknown.
Part 2: East African trade growth – Can container guarantees unlock the idle $1.5bn trade finance gap?
In part 1 of this interview, Morgan Lépinoy, Managing Director of Viatrans broke down how container deposits are creating deep structural issues for the shipping and logistics industry in Africa, and what Viatrans is doing to help mitigate these challenges.
Breaking: ICC and Swift release first API standards for guarantees and standby letters of credit
ICC and Swift, the global leader in secure financial messaging services, have unveiled the first application programming interface (API) industry standards for bank guarantees and standby letters of credit. The partnership unites ICC and Swift members, encompassing banks, corporates, fintech platforms, and service providers, aiming to forge leading industry standards to streamline the entire life… Continue reading Breaking: ICC and Swift release first API standards for guarantees and standby letters of credit
Allen & Overy and Enigio partner to accelerate the digitalisation of trade finance
Allen & Overy’s tech innovation hub, Fuse, has welcomed Enigio into its current cohort. The two companies are working together to accelerate the digitalisation of trade finance, given the importance of English law in global trade and trade finance. The new Electronic Trade Documents Act, which received Royal Assent in July 2023, means that electronic… Continue reading Allen & Overy and Enigio partner to accelerate the digitalisation of trade finance