Estimated reading time: 14 minutes
Your Monday morning coffee briefing from TFG:
- New edition launched! A balancing act: Juggling conflicting priorities in trade and payments
- What is an MGA and how does it fit into international trade?
- ICC DSI launches Digital Trade Assessment Tool for electronic records
- New digital trade “China corridor” brings transaction time from Europe down to hours
- Amazon turns to nuclear to power AI data centres
- MANSA reports $3m transaction volume in first month
- UK trade looking up as Starmer holds summit, inflation falls
- Lloyds and Mercore complete transactions with digital bills of exchange
New edition launched! A balancing act: Juggling conflicting priorities in trade and payments
We’re excited to have launched the 23rd issue of Trade Finance Talks magazine, coinciding with the 2024 Sibos conference in Beijing! Issue 23 bundles seemingly disparate topics, united, we think, by a fundamental question that everyone asks themselves all the time: What should I prioritise? Read more →
What is an MGA and how does it fit into international trade?
Managing General Agents (MGAs) have emerged as an important component in business, offering specialised expertise and flexibility. This new model of insurance providers helps to bridge the gap between insurers and the businesses they protect. Read more →
ICC DSI launches Digital Trade Assessment Tool for electronic records
The International Chamber of Commerce (ICC) has launched a new technical framework to evaluate the reliability of digital trade services. Read more →
New digital trade “China corridor” brings transaction time from Europe down to hours
A new digital channel for electronic trade documents launched by Enigio and TradeGo will make payments between Europe and China much safer and faster for exporters, importers, and banks. Read more →
Amazon turns to nuclear to power AI data centres
Amazon announced on Wednesday, 16 October it had signed three new agreements to support the development of nuclear energy projects to power its data centres in the US. Read more →
MANSA reports $3m transaction volume in first month
MANSA, a global decentralised finance (DeFi) platform providing liquidity to cross-border payment companies, has reported transaction volumes exceeding $3 million in its first month of operations. Read more →
UK trade looking up as Starmer holds summit, inflation falls
The International Investment Summit, held in London on Monday 14 October, saw Starmer pledge to industry leaders to remove regulation and red tape, to improve trade. Read more →
Lloyds and Mercore complete transactions with dBE
Lloyds Bank and Mercore, the fintech, have successfully executed a series of digital trade transactions, under the International Trade and Forfaiting Association’s (ITFA) Digital Negotiable Instrument (DNI) Initiative. Read more →
- Digitalisation from end to end: Lloyds Bank trade insights
- The role of credit insurance in a just energy transition
- Ratan Tata: India’s global business ‘titan’
- Know Your Transaction: Is there such a thing as too much information?
- E-invoicing: Automation, global tax compliance, digital transformation
- The game is afoot: tackling APP fraud
- Supply chains minimally affected as US dock workers call off strike after 3 days
- Banco Safra joins IFC’s program to expand trade finance in Brazil
Digitalisation from end to end: Lloyds Bank trade insights
A new Lloyds Bank Trade Insights report, published on 8 October 2024, has offered a glimpse into the benefits available to trading businesses as a result of this process of digitalisation and modernisation. Read more →
The role of credit insurance in a just energy transition
Credit insurers play a crucial role in attracting investment and ensuring the successful implementation of risky projects by providing the necessary tools and security. Read more →
Ratan Tata: India’s global business ‘titan’
Ratan Tata died last Wednesday, 9 October 2024. During his chairmanship of the Tata Group, Ratan Tata championed India’s global role in trade and supply chains, using acquisitions and reach to connect Indian industry to international markets. Read more →
Know Your Transaction: Is there such a thing as too much information?
Financiers would prefer a world where compliance checks result in a binary decision: a clear ‘HIT’ or ‘PASS’. But the reality is far murkier. Read more →
E-invoicing: Automation, global tax compliance, digital transformation
In the last decade, e-invoicing has evolved into a legally recognised form of invoicing in most jurisdictions, standing on equal footing with paper invoices. Read more →
The game is afoot: Tackling APP fraud
By introducing new rules to the cat-and-mouse game of tackling financial fraud, policymakers today have the upper hand. Read more →
Supply chains minimally affected as US dock workers call off strike after 3 days
The three-day strike, initially forecasted to cost up to $5 billion a day, ended up resulting in no more than $9 billion losses in total, with no reported shortages or delays in retail goods as a result of it. Read more →
Banco Safra joins IFC’s program to expand trade finance in Brazil
Banco Safra joins over 250 banks in the IFC’s Global Trade Finance Program (GTFP), an initiative by the IFC to extend risk mitigation to banks providing trade finance in new or challenging markets. Read more →
- VIDEO | LME Week C-suite insights: Unlocking carbon data to decarbonise supply chains
- VIDEO | Breaking down barriers and joining the party – supply chain finance for the next generation of SMEs
- Buoyant interest in African critical minerals spurs investments in infrastructure and logistics
- C-suite speaks: Credendo’s approach to navigating ESG risks
- VIDEO | What does Basel IV look like for the trade credit insurance market?
- Vision 2050: Intensifying climate action and building resilience in Mongolia
- TFG announces media partnership for ICISA’s Trade Credit Insurance Week
- African Development Bank approves €70 million trade finance facility in Morocco
- Enigio’s trace:original solution granted key patents
VIDEO | LME Week C-suite insights: Unlocking carbon data to decarbonise supply chains
TFG spoke with Adam Hearne, CEO of CarbonChain, to learn more about how businesses can use carbon transparency to meet compliance requirements, decarbonise their supply chains, and capitalise on emerging commercial opportunities. Read more →
VIDEO | Breaking down barriers and joining the party – supply chain finance for the next generation of SMEs
Surecomp’s Global Solution Consulting Director Suchi Guharoy talked through how a diversification-led approach can efficiently modernise the supply chain finance (SCF) industry. Read more →
Buoyant interest in African critical minerals spurs investments in infrastructure and logistics
Africa’s critical minerals sector is experiencing a strategic shift in global investments, with the United States and Europe promoting projects to challenge China’s dominance and diversify partnerships. Read more →
C-suite speaks: Credendo’s approach to navigating ESG risks
Nabil Jijakli, Deputy CEO of Credendo – Export Credit Agency, delved into how credit insurance can embolden SMEs and uphold sustainable initiatives. Read more →
VIDEO | What does Basel IV look like for the trade credit insurance market?
Carol Searle, General Counsel and Group Board Director at Texel Group, shared her outlook for the credit insurance market at large, highlighting a general wariness that a tightening regulatory framework may threaten the market’s dynamism. Read more →
Vision 2050: Intensifying climate action and building resilience in Mongolia
Mongolia’s long-term development policy, Vision 2050, intends to bolster sustainable governance and management. Read more →
TFG announces media partnership for ICISA’s Trade Credit Insurance Week
TFG is excited to announce that it will be the media partner for the International Credit Insurance and Surety Association (ICISA)’s third annual Trade Credit Insurance Week from 7 to 10 October 2024. Read more →
African Development Bank approves €70 million trade finance facility in Morocco
On Tuesday 1 October, the African Development Bank (AfDB) announced it was partnering with Bank of Africa Morocco (BOA) to provide the Moroccan bank with a €70 million trade finance facility. Read more →
Enigio’s trace:original solution granted key patents
Swedish fintech Enigio has been granted patents in Germany, France and the UK for its trace:original technology. Read more →
- VIDEO | How credit insurance providers are adapting to evolving trade finance demands
- PODCAST | ITFA’s new board members push for diversification and capacity growth in trade finance
- Happy birthday to the Electronic Trade Documents Act!
- Pamela Mar, Sean Edwards, and Eleanor Hill join TFG’s editorial board
- ICC DSI | Complexity and opportunity on the road to digital trade
- Green trade finance: the bigger picture
- Aon report on APAC working capital performance reveals an increase in average days receivable
- Swift and Wise collaborate to make cross-border payments swifter and wiser
VIDEO | How credit insurance providers are adapting to evolving trade finance demands
To learn more about the current state of credit insurance in trade finance, Trade Finance Global (TFG) spoke with Marsh’s Marcus Miller and Marie-Aude Vesval. Read more →
PODCAST | ITFA’s new board members push for diversification and capacity growth in trade finance
To learn more about the International Trade and Forfaiting Association’s (ITFA) role as global trade evolves at an extensive pace, Trade Finance Global (TFG) spoke with the association’s newest board members: Sian Aspinall and N L N Swaroop. Read more →
Happy birthday to the Electronic Trade Documents Act!
Celebrating its first anniversary, the Electronic Trade Documents Act (ETDA) enables electronic trade documents to have the same legal status as their paper counterparts, particularly for crucial documents like bills of lading. Read more →
Pamela Mar, Sean Edwards, and Eleanor Hill join TFG’s editorial board
Trade Finance Global (TFG) is excited to announce the addition of three more industry leaders to its editorial board. Read more →
ICC DSI | Complexity and opportunity on the road to digital trade
The trade finance gap persists at high levels despite the post-COVID recovery, as does the SME finance gap which represents SMEs’ “unmet financing needs” at $5 trillion. If we are making headway, we are not doing so fast enough. Read more →
Green trade finance: the bigger picture
Talking about trade and sustainability can be a double-edged sword: international trade is denounced by climate and anti-globalisation activists for polluting the planet, but many see great potential in trade to power a green transition. Read more →
Aon report on APAC working capital performance reveals an increase in average days receivable
Aon PLC has recently published its 2024 ‘Working Capital Benchmarking Report’ for the Asia Pacific (APAC) region, examining the working capital performance of 947 publicly listed firms across 12 APAC countries and territories over the last five years. Read more →
Swift and Wise collaborate to make cross-border payments swifter and wiser
The partnership, initially announced at the annual Sibos conference in Toronto on 18 September 2023, allows secure Swift transfers to be completed over Wise’s network, providing full transparency and enhanced efficiency. Read more →
- VIDEO | ITFA Cyprus: The 6 hottest topics in trade and supply chain finance right now
- SBA launches new program targeting SME trade finance gap
- Container shipping industry welcomes digital revolution, DCSA report reveals
- VIDEO | Gaining efficiencies in Know Your Counterparty (KYC) and onboarding processes for energy and commodities trading
- Lloyds Bank is re-imagining Guarantees and SBLCs in the digital age
- VOXPOP | NLN Swaroop on trade finance investment
- DFC backs Madagascar’s ambitious hydropower project
VIDEO | ITFA Cyprus: The 6 hottest topics in trade and supply chain finance right now
In a quickfire session at ITFA’s 50th Annual Trade and Forfaiting Conference held at Cyprus, TFG’s Deepesh Patel spoke with Sean Edwards, ITFA, about some of the key themes emerging throughout the conference. Read more →
SBA launches new program targeting SME trade finance gap
The US Small Business Administration (SBA) recently announced a new pilot program that intends to help close the trade finance gap experienced by SME exporters. Read more →
Container shipping industry welcomes digital revolution, DCSA report reveals
The ‘State of the Industry’ report, released today by the Digital Container Shipping Association (DCSA) is based on a survey of 400 cargo owners and in-depth interviews with 45 industry stakeholders across 15 legal jurisdictions. Read more →
VIDEO | Gaining efficiencies in Know Your Counterparty (KYC) and onboarding processes for energy and commodities trading
To learn about the development and difficulties for risk practitioners surrounding counterparty lifecycle management and supplier onboarding, Trade Finance Global spoke with Aoife Doyle, Vice President of Product Marketing at Fenergo. Read more →
Lloyds Bank is re-imagining Guarantees and SBLCs in the digital age
Lloyds Bank has introduced a new digital solution to simplify the application process for guarantees and standby letters of credit (SBLCs). While available for all Corporate clients, the solution is particularly beneficial for SMEs and mid-sized corporates. Read more →
VOXPOP | NLN Swaroop on trade finance investment
Trade Finance Global’s sat down with NLN Swaroop to discuss ITFA’s Trade Finance Investment Ecosystem—or ITFIE—an industry group of trade finance practitioners that focuses on developing trade as an asset class. Read more →
DFC backs Madagascar’s ambitious hydropower project
The US International Development Finance Corporation (DFC) has approved technical assistance funding for a pioneering 120 megawatt (MW) hydropower project in Madagascar, to expand the country’s clean energy capacity. Read more →
- State of factoring in Georgia: An update on collaboration and regulation
- ADB initiative to combat trade-based money laundering through collaboration, technology, and intelligence-rich data
- Industry leaders to discuss launching new credit insurance ventures in upcoming webinar
- A win for trade finance? A balanced approach to Basel 3.1 in the UK
- Has trade finance had a ‘brat summer’?
- Emirates NBD partners with Enigio to accelerate trade document digitisation
- EP Resources adopts Surecomp’s RIVO™ to automate trade finance
- VOXPOP | Marcus Miller on originate-to-distribute (OTD) model
State of factoring in Georgia: An update on collaboration and regulation
In Georgia, the high costs associated with providing banking services, and stringent creditworthiness or collateral requirements, pose significant challenges for many small and medium enterprises (SMEs) seeking financing through lending offers. Read more →
ADB initiative to combat trade-based money laundering through collaboration, technology, and intelligence-rich data
A pilot program led by the Asian Development Bank (ADB) has demonstrated a promising new approach to combating trade-based money laundering (TBML): a form of crime enabling illicit funds flow through the global trade system. Read more →
Industry leaders to discuss launching new credit insurance ventures in upcoming webinar
Trade Finance Global (TFG) is set to host an exclusive, virtual roundtable webinar entitled “Launching a New Credit Insurance Venture: A Comprehensive Guide.” Read more →
A win for trade finance? A balanced approach to Basel 3.1 in the UK
The Prudential Regulation Authority (PRA) has released its second policy statement on the implementation of Basel 3.1, set to take effect in January 2025. Read more →
Has trade finance had a ‘brat summer’?
Can we call trade finance “that girl who is a bit messy and loves to party and maybe says dumb things sometimes”? Is it “honest, blunt, and a little bit volatile”? Read more →
Emirates NBD partners with Enigio to accelerate trade document digitisation
The Middle Eastern bank Emirates NBD has partnered with Enigio, the technology provider responsible for the trace:original platform, in a move towards trade digitisation. Read more →
EP Resources adopts Surecomp’s RIVO™ to automate trade finance
EP Resources, the Swiss-based energy and commodities trading company, has chosen Surecomp’s RIVO™ solution to automate its trade finance operations. Read more →
VOXPOP | Marcus Miller on originate-to-distribute (OTD) model
At the International Trade and Forfaiting Association’s (ITFA) 50th annual conference, Trade Finance Global spoke to Marcus Miller about the OTD model and responsiveness to regulation. Read more →
- The New Spice Road: How trade finance developments are transforming Africa and the Middle East
- Podcast | Back to the basics with ITFA’s trade finance educational seminar
- Adapting to change: Insights from the 2024 CGI and BAFT Trade Technology Survey
- ICC DSI reveals 22 case studies, highlighting the positive impact of digital standards and interoperable frameworks on global trade
- Lloyds Bank adopts AI technology for trade finance operations
- Vietnam’s first LNG-to-power plants backed by international banks and export credit agencies
- Supply chain industry leaders back push towards electronic bills of lading
The New Spice Road: How trade finance developments are transforming Africa and the Middle East
As this magazine edition will demonstrate, it is crucial to monitor trade finance developments in Africa and the Middle East, as they will likely inform the industry’s trajectory across the world. Read more →
Podcast | Back to the basics with ITFA’s trade finance educational seminar
From innovations in financial instruments, risk mitigation techniques, digitalisation, and regulatory changes, trade finance – a critical enabler of global trade – has been experiencing a significant transformation. Read more →
Adapting to change: Insights from the 2024 CGI and BAFT Trade Technology Survey
The 2024 CGI and BAFT Trade Technology Survey reveals the strategic priorities and challenges which banks face and offers a comprehensive view of their adaptation strategies. Read more →
ICC DSI reveals 22 case studies, highlighting the positive impact of digital standards and interoperable frameworks on global trade
The study builds on the Key Trade Documents and Data Element (KTDDE) Framework, which uses interoperable frameworks and globally accepted digital standards to address challenges across supply chains. Read more →
Lloyds Bank adopts AI technology for trade finance operations
Lloyds Bank has announced a partnership with Cleareye.ai, an artificial intelligence (AI) platform specialising in trade finance solutions: the first collaboration of its kind in the UK banking sector. Read more →
Vietnam’s first LNG-to-power plants backed by international banks and export credit agencies
In collaboration, Citi, ING, K-SURE, and SERV have successfully closed a $521.5 million, 12-year supported financing loan for Petrovietnam Power Corporation (PV Power). Read more →
Supply chain industry leaders back push towards electronic bills of lading
A coalition of major supply chain industry associations has thrown its weight behind the ‘declaration of the electronic bill of lading’ (eBL), adding momentum towards modernising international trade documentation. Read more →