Each day, mountains of trade finance data are delivered to banks, requiring urgent processing to support the flow of goods around the world.
After another tumultuous year for trade finance in 2021, the industry is set to face a number of challenges – both old and new – as we head into 2022.
BAFT is the leading financial services association for international transaction banking. In his new role, Stevenson will lead BAFT’s trade-focused policy, practices, and education initiatives, and support its trade-related councils and committees.
In most countries, small and medium enterprises are important contributors to economic welfare. This is the main reason why a digitalized trade system can open more opportunities to further SME growth.
Broadridge Financial Solutions, Inc. announces the launch of a new solution – the Broadridge Anti-Money Laundering Solution.
World trade is central to economic growth and as we emerge from the pandemic, trade is paramount in enabling the global economy to recover. Is the time really now, for digitising trade, and how can advance the dialogue to reduce friction, costs and risk?
TFG interviewed Robert Meters (RM), Head of Marketing and Sales, Global Business & Financial Services at SCHUMANN to discuss how the trade credit insurance has changed as a result of the covid-19 pandemic.
MSMEs around the globe struggle to obtain financing. Why do these MSME financing constraints exist and is a digital future providing new hope for all those firms that are struggling to stay afloat?
This article features two hot Know Your Customer (KYC) projects which are currently being deployed to fight fraud, counter-terrorist financing and anti-money laundering, following the release of TFG and WTO’s recent publication on DLT in Trade.
The age old problem of document digitization in trade has probably been around since goods were traded using stone tablets in the Mesopotamian era. So who’s making a dent using blockchain / distributed ledger technology? From the updated WTO / TFG periodic table of projects in trade, we reveal 12 projects tackling this head on.
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.
Correspondent Banking should in the future reinvent itself to accompany to be an ideal companion to technical assistance and be a key milestone potential ahead for the Africa market.
For Africa, the trade finance gap has been estimated at USD 110-120 billion. TFG spoke to Afreximbank on the challenges/ opps that lie ahead.
Banks are often slow to adopt the latest technology, and in many cases that is warranted. As highly regulated institutions tasked with protecting valuable data, banks understandably want to avoid “running with scissors.” By starting slow with simply implementing APIs in a few areas, they can begin to modernize and ultimately provide streamlined payments solutions, like RTPs, to their largest pool of customers.
financial crime risk, just like any other risk, can be better understood using data and modelling techniques, instead of common wisdom. TFG heard from Sihem Mouelhi at Elucidate to find out more.