Your morning coffee briefing from TFG. TFG launched a brand new app, Global trade finance gap hits new all-time high of $1.7tn due to COVID-19, business failures to increase by 32% states Euler Hermes, Standard Chartered research shows companies in Europe, North America are doubling down on supply chain resilience and Contour partners with Shenzhen FinTech Institute of the People’s Bank of China to increase trade digitisation across Asia
SWIFT is a communication platform that allows members to connect and exchange financial messages securely and reliably.
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?
Since the inception of UCP 600, trade finance professionals, in particular, the letter of credit community, have been discussing the need for and consequences of modifications and exclusions to the rules in commercial LCs issued under UCP 600.
Your morning coffee briefing from TFG. The world’s biggest companies felt the greatest impact of corruption and illicit activity in 2020, 15% of UK SMEs are at risk of insolvency in the coming four years, UNCTAD issues amber warning on building back better after the pandemic, Boris Johnson announces new £31 million green finance deal in the UAE and MonetaGo partners with SWIFT to create first-ever global solution to duplicate financing fraud.
Your morning coffee briefing from TFG. Korea contributes CHF 290,000 to help developing countries participate in global trade, commodity dependence increased over the last decade, supply chains crisis will leave lasting change on globalisation, food price inflation increases pressure on poorer countries and Brexit trade barriers added £600m in costs to UK importers this year.
The need for trade digitization has never been more prevalent than it is today, especially with pandemic-induced restrictions emphasizing the inefficiency of paper-based trade. Our Editor, Deepesh Patel sat down with Contour’s CEO and Chief Product Officer, as well as TradeLens’ Head of Strategy and Operations, to discuss how fintech can come together to partner to solve these problems.
Your morning coffee briefing from TFG. US gas exporters face a tightening of European anti-pollution rules, Commercial Banking Applications prepares banks for SWIFT 2021
Developing and harmonising existing standards within trade finance is key for digitalising trade.
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.