In the ever-revolving landscape of trade payments, a notable trend is gaining momentum as the global financial industry embraces ISO 20022 – a data-rich and interoperable universal messaging format set to replace the legacy Message Text (MT) that has prevailed for years.
To learn more about the latest updates on MLETR adoption in the G7 countries and emerging markets, Trade Finance Global spoke with Luca Castellani, legal officer at the Secretariat of the United Nations Commission on International Trade Law (UNCITRAL)
Trade Finance Global (TFG), a leading trade finance platform, and Tinubu, a global credit risk and trade credit insurance provider, are pleased to announce an upcoming webinar exploring the potential solutions to the trade finance gap in Africa through credit insurance and export credit. The event will take place on 10 July 2023 at 12:00 PM BST, featuring prominent industry experts as panel speakers.
The International Chamber of Commerce (ICC) has announced the update and alignment of three critical banking rules following a mandate from the ICC Global Banking Commission members in October. The… read more →
According to a study released on Wednesday by the US-based Atlantic Council think tank, 130 nations, representing 98% of the global economy, are currently exploring digital variants of their currencies.… read more →
Today, the Law Commission of England and Wales published their recommendations for reforming and developing digital asset laws. Digital assets – which include crypto-tokens (sometimes referred to as ‘cryptocurrencies’) and… read more →
Finastra, a global provider of financial software applications and marketplaces, announced it has completed testing and certification for the FedNow Service, becoming one of the first vendors in the industry… read more →
Like every aspect of the financial services industry, the correspondent banking world has changed a great deal over recent years due to technology, regulatory regimes, and risk management.
VIDEO | Illuminating international trade: The role of FATF and AML/KYC in combating financial crimes
In the shadows of the interconnected world of international trade lies a pervasive threat that silently endangers the security of global markets. Financial crimes, with their detrimental effects on stability and integrity, cast a dark cloud over the world economy, threatening the trust upon which international trade relies. From money laundering to terrorist financing, illicit activities can have far-reaching consequences.
In trade finance compliance, getting the details right matters. Regulators around the world, the financial institutions involved and, of course, bank clients, have a keen interest in ensuring that trade transactions do what they are designed to do: ensure timely payment and prevent fraud, all in line with constantly changing international regulations. As that suggests, there is always the potential for a mistake to cost the bank a great deal of money and put a major dent in its reputation. That threat, in turn, can put a lot of pressure on staff.
Central Bank Digital Currencies (CBDCs) have infiltrated the agenda of countless innovation meetings at the world’s central banks.
An international consortium comprised of industry and technical experts, backed by government bodies, businesses, and various organisations, has successfully completed a groundbreaking quantum-secure cross-border electronic trade document transaction. This achievement… read more →
The London Institute of Banking & Finance (LIBF) has joined forces with IU Group, Europe’s leading edtech company and the owner of IU International University of Applied Sciences (IU), Germany’s… read more →
Trade Finance Global (TFG) is proud to reaffirm its partnership with Trade4MSMEs in light of the forthcoming World Trade Organization (WTO) MSME Day on 27 June 2023.