Tradetech

At Sibos Toronto, TFG’s Deepesh Patel spoke with Rogier van Lammeren, Managing Director, Head of Trade & Working Capital Products at Lloyds Bank, and Patrik Zekkar, CEO of Enigio. 

Your Monday morning coffee briefing from TFG, 2nd October 2023.

As our world becomes increasingly digital, the digital divide has widespread implications, and the least developed countries (LDCs) are most likely to be negatively affected. 

Lloyds Bank has completed what it believes to be the first transaction under the UK’s new Electronic Trade Documents Act (ETDA) which came into force today [20 September 2023]. 

Trade Finance Global (TFG), in collaboration with UK Export Finance and the Department for Business & Trade, is set to host a tradecast on 13th September 2023, one week before the Electronic Trade Documents Act (ETDA) comes into force. 

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. 

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.

With the passing of the UK’s Electronic Trade Documents Act (ETDA), the digital trade world is changing. While this is welcomed news for the entire industry, it also means that new partnerships and innovations need to come to fruition.

For ages, correspondent banking has played a vital role in the global payments system. Through correspondent banking relationships, banks gain access to a diverse range of financial products across various jurisdictions enabling them to offer cross-border payment solutions and services to their customers. 

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. 

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.

Your Monday morning coffee briefing from TFG, 28th August 2023.

International Lawyers and Economists for Development (ILaED) is a non-government organisation focusing on the economic development of women and girls. By encouraging entrepreneurial skills, it helps them engage in both local and international markets.

A judge in a Canadian court case has ruled that a thumbs-up emoji constituted a legally binding acceptance of a contract, ordering the defendant, who failed to fulfill their end of the deal, to pay more than $82,000 in damages. 

This week, the World Trade Organization (WTO) published the World Trade Statistical Review 2023, providing an in-depth analysis of the global trade landscape in the midst of worldwide turbulence.