With the Covid-19 pandemic, our paper-based trade finance settlement system suddenly stopped working. It is about time businesses adopt paperless and digital workflow to safeguard trade finance operations.
TFG heard Judd Holroyde, Head of Global Product Management, Wells Fargo. We talked about the changing payments landscape, about SWIFT and SWIFT Gpi and how the FinTech creativity can be used as a customer value proposition messenger.
SWIFT – The Society Worldwide Interbank Financial Telecommunication was founded in 1973 and has been the global standard for financial messaging between banks ever since. The messaging service is used by over 11,000 banks and institutions across 200 countries and have sent over three billion financial messages so far in 2019.
You might have had thousands of international wire transfer transactions already, but only now have you thought about how these transactions work. How is it possible for banks to communicate… read more →