Trade Finance Global caught up with Senior Economist, Ana Boata at Euler Hermes last month at The Institute of Export & International Trade’s World Trade Summit. A very interesting macroeconomic view on how households, retail and economic growth has changed in 2019 due to trade wars, Brexit and business uncertainty.
We spoke to the Finastra’s CEO Simon Paris about the future of trade and challenges of capitalism, during the World Trade Symposium at New York. We discussed key themes around bilateralism and multilateralism in global trade and why we need to turn our eyes to plurilateralism. A typical SME trade finance transaction is $25,000, but the average cost to trade finance instruments is $4,000 and this is not particularly helpful in addressing the trade finance gap. Is the technology the remedy here?
Open Account financing is going through a period of rapid change, thanks to digital innovation and competition. Recognised as a safe and flexible way for financing the real economy, we caught up with Erik Timmermans, founder of WOA, and John Brehcist, at their annual convention, to discuss the hottest topics in receivables finance.
Trade and supply chain finance is at the forefront of innovation as there are currently many pain points for corporate clients and banks. As the industry moves towards a platform model, we heard from Accenture’s Cecile Leruste on thee major transition and megatrends going on in commodity finance.
We caught up with the President of the Bankers Association for Finance and Trade (BAFT). We talked about the balance of human capital and technology in the international transaction banking, about the amendments of the funded master risk participation agreement and how trade-based money laundering can be eradicated.
We interviewed Geoff Brady, Head of Global Trade & Supply Chain Finance (GTS) at Bank of America Merrill Lynch. We talked about the physical and financial aspects of the supply chain management, about the importance of Blockchain Consortia in the trade finance space and the BAML’s agenda for the rest of the year.
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.
We caught up with the Head of Trade Finance at Asian Development Bank, Steve Beck. We talked about the newly published Trade Finance Gaps, Growth, and Jobs Survey.
We caught up with the Head of Trade Origination & Advisory at Natwest Bank, to talk about trade in the UK, given the current uncertain geopolitical climate around Brexit. We asked Rowan Austin about the current outlook for UK SMEs, trade barriers and how the bank is approaching trade and transaction banking digitisation through some of its initiatives at Sibos 2019.
We caught up with the Head of Trade Origination & Advisory at Natwest Bank, to talk about trade in the UK, given the current uncertain geopolitical climate around Brexit. We asked Rowan Austin about the current outlook for UK SMEs, trade barriers and how the bank is approaching trade and transaction banking digitisation through some of its initiatives at Sibos 2019.
TFG heard from Joel Schrevens Global Solutions Director of China Systems about the state of the trade and supply chain finance ecosystem. Established in 1983, China Systems is a leading trade services solutions vendor. The company is fully focused on providing an integrated front-end and back-office platform catering for internal and external deployment at a domestic, regional or global level.
TFG heard from Alexander Goulandris the co-CEO of essDOCS about the different solutions for paperless trade.
Existing systems are woefully inefficient, siloed or still paper-based and many of them have not improved for decades. The Marco Polo Network is working with Financial Institutions, Corporates and Technology & Service Providers to remove the barriers preventing them from operating at their best.
AGTB: New kid on the block. TFG heard from Daniel Gould, Deputy CEO of Anglo-Gulf Trade Bank, and its new digital offering for trade finance in the UAE and MENA region. Building a trade bank from scratch without relying on legacy technologies has enabled AGTB to reimagine trade finance, building a competitive product for the corporate banking space.
The Italian Banking market continues to face headwinds and pressures around new payment service directives (PSDII), challenges from the regulator, and changing customer needs. TFG caught up with the CEO of regtech innovator CBI about their latest product CBI Globe, and how this is positioned to help Italian banks succeed and grow.
