It has finally started to happen in Trade Finance business domain when it comes to application of emerging technologies helping to create new ways of approaching the old business processes. The old way of working has created many challenges for global trade in addition to political protectionism now also generating stress to exchange goods and services internationally. The additional challenges may be listed as lack of trust and true global interoperability as well as local and regional political agendas and regulations.
Today, Trade Finance Global were at the ITFA 46th Annual International Trade and Forfaiting Conference, held in Budapest, observing the ITFA Young Trade Financier of the Year Award.
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.
Islamic finance is a specialist area that presents exciting growth opportunities for the UK. Sharia (Islamic law) compliant banking assets make up 6% of the world’s banking assets, but globally, approximately one in four people are Muslim. The scope for growth is obvious.
LBBW and Commerzbank have once again executed a trade transaction between Voith and KSB SE, via the Marco Polo trade finance network, built on R3’s distributed ledger technology (DLT) platform, Corda.
Simplifying and standardising trade finance faces a myriad of challenges but is necessary to enable open, secure trade finance. I caught up with Harri Rantanen at SEB to find out more about the objectives and mission behind Standardised Trust.
In this interview series, we heard from 3 Supply Chain Finance experts and learned about the developments in the sector and the best of practices SCF implementation. TFG’s Persiana Ignatova spoke to Igor Zacks, Erick Riddle and Andrew Tananbaum, who are members of World of Open Account (WOA).
In this interview series, we heard from 3 FinTech experts and assessed the real, viable applications of these technologies within international trade and open account.
The life of a corporate treasurer is changing, and so is transaction banking. TFG spoke to Lesley McNamara at BAML on integrating product offerings, digital banking trends, corporate treasury and trade updates.
Two Raiffeisenlandesbanks go live with digital trade finance solution that will transform their end-to-end operations and intercept continuing business and market demands.
Flexport’s unique visibility into client shipments down to the SKU level through its digital platform provides them with a unique perspective on risk relative to banks offering financing. This insight… read more →
TFG spoke to Mitigram’s CEO Milena Torciano, who just raised a Series B round of financing, worth 100SEK ($10.7m USD) from Sampo, on their ambition to become the Bloomberg of trade and digitise trade flows.
TFG were live at the Telegraph’s Future of Trade & Export conference, joined by Michael Boguslavsky, Head of AI at Tradeteq. There are a number of disruptive opportunities to digitise trade finance, including, machine learning, artificial intelligence, robotics, natural language processing.
The Telegraph’s ‘Future of Trade and Export’ conference sought to explore ‘new opportunities in international trade policy, finance and technology’.
Crypto assets (including Crypto currencies) and the technologies which underpin them are important because of the potentially huge benefits to society they can deliver. TFG heard from Manu Duggall on their standing under English law, which will determine whether that law will be chosen as the law of the contract and the forum for disputes over others.