Developing and harmonising existing standards within trade finance is key for digitalising trade.
Factoring, as an important method to extend credit, is a type of financial transaction where the creditor assigns its receivables to an assignee at a discount. In recent years, there has been a large growth of factoring transactions around the world.
WTO, TFG and ICC have today launched their latest publication ‘Accelerating trade digitalization to support MSME financing’
Oswald Kuyler, Managing Director of ICC DSI talks to TFG about promoting digital trade, harmonisation and trade standards.
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.