TFG, today announced a media partnership with the International Trade and Forfaiting Association (ITFA), for the 47th Annual International Trade and Forfaiting Conference.
Closing a deal between an unknown buyer and seller is difficult. Add to this the cross-border element and the many different agents on the way, and trade suddenly gets complicated.
Deepesh Patel, Editor at TFG summarised the key themes discussed during ICC Mexico’s three-day virtual event on The Digital Future of Trade and Supply Chain Finance.
In a panel moderated by Christine McWilliams at TXF’s Global Commodity Finance Virtual 2021, which TFG partnered with, this impact was discussed at great depth, looking at how to navigate commodity trade finance in a post-COVID world.
A reliance on paper has hindered commodity finance for far too long. It should welcome digitalisation with open arms.
Only through collaboration and interoperability with other key technologies like AI, RPA, and the IoT will the path of consortia be effective in making trade finance truly digital.