Merchants would go on voyages for several weeks, if not months, in a caravel, carrack or clipper to the Far East, or elsewhere, to buy cotton, wool, tea, spices or other commodities. They would be equipped with a Letter of Credit in their trunk, often handwritten by the clerk of their high street banks.
How has SWIFT changed, what challenges have they faced and how will they continue reinventing themselves in the highly competitive global payments market?
AI, internet of things, robotics – what do they mean for trade finance, particularly in the efforts to combat trade-based money laundering?
The digital transformation of the banking operations of guarantees and documentary credits to shift from the paper-based and labour-intensive models to a digital trade ecosystem.
With electronic document rules in place, it is now the role of key players and regulators to go ahead and enable trade finance to take advantage of digital innovation.
TFG heard from Arnaud Doly, CEO & Founder, Nabu, on how blockchain and AI can play a key role in helping reduce unmet demands in trade finance and completing the work that humans do to provide better trade finance services.