SWIFT’s upcoming SR 2021 release is set to bring some significant changes to trade finance messaging standards – specifically those relating to guarantees
Your Monday morning coffee briefing from TFG. The OECD upgraded its forecasts for global growth this year, mainly due to the sizeable $1.9t stimulus in the US. UK exports to the EU fell by a record 40.7% in January following the end of the post-Brexit transition period.
Your Monday morning coffee briefing from TFG. The pandemic has created a vast natural experiment in home working.
SWIFT and Singapore’s Infocomm Media Development Authority (IMDA) today signed a Memorandum of Intent (MOI) to accelerate trade digitalisation globally.
Your Monday morning coffee briefing from TFG. Governments across Europe face a hard balance between public health and economic activity as they combat a resurgence in COVID-19 cases. Global trade is recovering more quickly than after the 2008 global financial crisis.
The transmission of COVID-19 has returned to “alarming rates” across Europe, says the World Health Organization. The UK government imposed more restrictions on areas of the North East and the Midlands to combat a rise in the number of cases.
The Buyer’s Request for Quotation (RFQ) and the responding Seller’s Quotation (QTO) need not be a kabuki dance event that only creates the appearance of engaging in a transaction.
Many new fintechs are fielding trade transaction cloud platforms that combine video technology with non-bank trade finance that is going to fill the vacuum created by the banking industry.
EIPP in combination with blockchain can help banks avoid duplicate Invoice Financing and perform dedupe effectively.
Banks, fintechs, and other vendors have a pivotal role to play in this situation to support communities and try to help the economy moving in the short and long term.
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 from Joel Schrevens, China Systems, shedding light on trade data. Is SWIFT MT7xx or ISO20022 the right way forward? Why didn’t the BPO take off?
ISO 20022 is the messaging standard for all types of financial services messaging. Dominic Digby discusses ISO 20022 for trade finance.
ISO 20022 is the new global language for payments messaging, helping make the quality of data, richer, structured and more meaningful. The payments industry continues to change rapidly and is certainly something that is discussed by most heads of treasury and trade. There is a constant need to adopt global standards within the financial community, and ISO 20022 is one standard that’s taking the lead.
So you’ve built yourself a blockchain, now what are you supposed to do with it?