Global Trade Review (GTR)’s Post

Thanks Global Trade Review (GTR) and Shannon Manders for organizing, and Geoff Brady for hosting! It was great to get together with Standard Chartered's Jordane ROLLIN, IBM's Juanjo Ruiz, Citi's Bayo Gbowu Sr., R3's Dr Alisa DiCaprio, and Cleareye.ai's Mariya George to discuss the current progress in digitizing trade finance, a topic close to all our hearts. Collaboration in trade finance between banks and fintechs with support from regulators has become more common, experimental, and cost-effective. This is crucial for driving innovation, with a lot of activity focused on generative AI and large language models - ultimately creating benefits for importers and exporters. Financial institutions have also shifted their mindset; they are now more comfortable with an “à-la-carte” approach to digitizing their trade finance processes, often trialing multiple solutions in a sandbox before progressing. We look forward to more events in the future! _____________________________ Read the full article: https://lnkd.in/dh75ENJB Ben Arber Matthias Verbeke Roderick Trekels Sam Curtis Alex Gray

Happy New Year everyone!✨ The tide is turning on digital trade finance - the big question in 2025 will not be whether to go digital, but how quickly? The winners will be those who can ride the wave, to embrace digitisation with agility and vision. Thanks Deepesh Patel and Mahika Ravi Shankar Trade Finance Global (TFG) for sharing our perspective on this fast changing landscape. #digitaltransformation #tradefinance #globaltrade #growth #collaboration #digitisation #artificialintelligence #corporatefinance #treasurytransformation

🌊 The tide is turning on digital trade finance: Ride the wave or be swept out to sea? 📊 Digital trade finance has been top of mind for years, but most will agree that 2024 has seen a significant shift in mindset towards adoption. 📜 While the pandemic underscored the need for digital solutions, the trade finance sector has remained fragmented, burdened by paper-heavy processes, and hesitant to fully embrace change. However, 2024 saw substantial progress, with several key developments accelerating the widespread adoption of trade finance software. 🗣️ “This is the beginning of a new and very promising journey in digitalising bank guarantees,” commented Marie-Laurence Faure-Lepetit, Head of Digital Trade Channels at BNP Paribas. 🏦 Enno-Burghard Weitzel, Surecomp’s Chief Solutions Officer, highlighted how embedding AI into digital trade finance will be “instrumental” in empowering customers, as they “enable banks to automate a repetitive, time-consuming verification task which was previously causing massive delays in guarantee issuance.”    📖 Read the article by following the link in the comments section below ⬇️ #digitaltrade #tradetech #fintech #AI #API #tradefinance

🟢 Key takeaways from the recent BCG Payment Report: 🔸 The payment industry is maturing 🔸 Technical modernization is a key focus 🔸 Early GenAI adopters are gaining a competitive edge 🔸 Fintechs continue to grow and innovate 🔸 Instant payments are becoming essential 🔸 Digital currency adoption is still in its early stages 🔸 Risk and compliance are back in the spotlight #BankingTransformation #CompetitiveEdge #PaymentTech #BCGinsights #GlobalPaymentsReport2024 #Payments #PaymentStrategy https://lnkd.in/eHc-JbvK

For centuries, banks have played a crucial role in our financial landscape. But as times change, so do our expectations of their role. In today's world, where sustainability, social responsibility, and transparency are of utmost importance, we're witnessing a shift towards more ethical banking practices. Consumers are now starting to  look to banks to work for the benefit of society and the planet, not just their shareholders. The rise of online and mobile banking, along with the emergence of innovative fintech start-ups, has led to rapid transformation within the industry. Yet, there remains a lack of easily accessible, socially conscious banking options. At Science Card, we advocate for the banking industry to embrace sustainability, transparency, and social engagement. We are developing a model that aligns financial services with sustainability and scientific exploration. Together, we can prove that finance has the power to positively impact the world. 🌏 The link to the full article is in the comments 👇 #SustainableFinance #FintechForGood #ESG

To survive in a brave new world the banking sector will need to offer financial services that are embedded into software platforms developed and operated by the banking industry itself.

The digital transformation of #trade #finance is here, and it’s revolutionizing the industry by reducing time and costs. At Santander Corporate & Investment Banking we aim to be at the forefront of this change. Our investments in cutting-edge #technology for the development of our fully digital #supply #chain finance platform enable us to provide seamless, multi-bank trade finance solutions that cater to the complex needs of our global #clients. Read more about our role in trade finance #digitalization and how its reshaping the industry here: https://lnkd.in/dZCevAGY

Breaking the Silence: Addressing Scalability Challenges in Trade Finance In the trade finance world, conversations often revolve around innovation, digital transformation, and the promise of fintech. But there’s a critical question everyone acknowledges but few are willing to address: How can banks and fintech firms collaborate effectively to tackle scalability challenges while ensuring security and compliance? Let’s face it—scalability isn’t just a technical issue; it’s a fundamental challenge rooted in  operational inefficiencies, fragmented data systems, and aligning with global regulatory frameworks. Banks hesitate to fully embrace fintech solutions, fearing the complexity of integration with legacy systems or the risks of compromising compliance standards. On the other hand, fintech firms often view these barriers as resistance to change. But here’s the truth: collaboration requires a shared commitment to redefining processes, not just layering new technology over old structures. For Banks: It’s time to view fintech’s as strategic partners, not disruptors. Collaborations must focus on co-creating solutions that blend innovation with operational resilience. For Fintech’s: There’s a need to design scalable solutions that respect the regulatory and infrastructural realities banks operate within. What’s your take? How do we address these unspoken challenges to truly unlock the potential of fintech-bank collaboration in trade finance? #Banking #TradeFinance #Fintech #Collaboration #Scalability #Innovation

🔄 Trade Finance: The Untapped Area for Fintech 💼 In the rapidly evolving landscape of financial technology, or fintech, certain sectors often steal the spotlight. From mobile payments to robo-advisors, many fintech innovations cater to consumer needs and preferences. However, there's a lesser-known yet immensely promising realm within finance that's ripe for disruption: trade finance. Trade finance, the lubricant of global commerce, involves facilitating transactions and mitigating risks associated with international trade. Despite its critical role in facilitating trillions of dollars worth of transactions annually, traditional trade finance processes are often burdened by inefficiencies, paperwork, and lengthy transaction times. Enter fintech. Fintech solutions are poised to revolutionize trade finance by leveraging technologies such as blockchain, artificial intelligence, and big data analytics. These innovations promise to streamline processes, reduce costs, enhance transparency, and unlock access to trade finance for businesses of all sizes, particularly SMEs (small and medium-sized enterprises). ➡️Blockchain technology, with its immutable ledger and smart contract capabilities, holds immense potential to digitize and automate trade finance processes. By enabling secure and transparent transactions, blockchain can mitigate fraud, reduce delays, and lower transaction costs. ➡️Artificial intelligence (AI) and machine learning algorithms can analyze vast amounts of data to assess credit risk, detect anomalies, and optimize trade finance operations. These technologies empower financial institutions to make more informed decisions rapidly, thereby accelerating the financing process. Furthermore, the integration of application programming interfaces (APIs) facilitates seamless connectivity between various stakeholders in the trade finance ecosystem. This interoperability enhances collaboration, reduces manual interventions, and expedites the flow of information and funds. Despite the undeniable benefits of fintech in trade finance, challenges remain. Regulatory compliance, interoperability issues, and cybersecurity concerns necessitate careful navigation. Moreover, addressing the digital divide and ensuring inclusive access to fintech-enabled trade finance solutions is imperative. In conclusion, trade finance represents a fertile ground for fintech innovation. By harnessing the power of emerging technologies, fintech companies can catalyze a paradigm shift in trade finance, making it more efficient, accessible, and resilient than ever before. As the global economy continues to evolve, embracing fintech in trade finance is not just advantageous—it's essential for driving sustainable growth and prosperity worldwide. #tradefinance #documentarycredit #transactionbanking #globalbanking #ucp600 #isbp #internationaltrade

From cross-border payments to blockchain-based financing, digitalisation is driving sweeping changes throughout the global trade ecosystem. For daily news and analysis subscribe to the https://lnkd.in/gR8aX8zJ newsletter. #FinTech #Payments #Finance