FinTech Magazine’s Post

In the latest issue of the BPCC's Contact Magazine Online Jakub Makurat, country manager Ebury Poland, Czechia, Slovakia, balkan states, considers how FinTech innovation is helping exporters cut the cost of trade finance and hedge their exposure to FX risks. 👉🏻 https://lnkd.in/dYpxdvvY #bpccmagazine #bpcccontactonline #tradefinance #exporters #FX #FinTech Iga M.

Insightful read from my colleague Hassan Zebdeh on the critical topic of regulatory compliance in trade finance. These best practices are essential for banks navigating the complexities of the industry. #TradeFinance #RegulatoryCompliance #Eastnets https://lnkd.in/dVBZHyYW

📊 Navigating regulatory compliance in trade finance can be challenging for banks. This blog post shares best practices to help financial institutions manage the complexities and stay compliant with global trade regulations. Essential reading for trade finance professionals! 🛡️ Read more: Blog Link https://hubs.ly/Q02M8HDJ0 #TradeFinance #RegulatoryCompliance #Banking #GlobalTrade

Trade finance and trade-based money laundering: Appreciating the dynamics LINK: https://lnkd.in/eCUQhRek #TheLegalLowdown #WhiteCollarCrime #MoneyLaundering #Fraud Please LIKE & REPOST

One of the biggest challenge in trade🚢🏦 is : “Trade Finance Compliance “: 🏦🚢📌🔍🧐💵🔍 ▪️Trade finance is an umbrella term meaning it covers many financial products that banks and companies utilize to make trade transactions feasible. ☑️📌 ▪️The function of trade finance is to introduce a third-party to transactions to remove the payment risk and the supply risk. ▪️Trade finance operations are governed by a variety of rules and regulations, particularly anti-money laundering (AML) & know-your-customer (KYC) standards. 🪪☑️🔍📌 ▪️Trade finance providers must guarantee that their customers and activities follow these regulations. Due diligence entails validating the importer's identification, executing AML checks and reviewing the transaction's validity.🔍☑️📌 ▪️Trade compliance teams face internal challenges as well, In fact, there have been so many new requirements imposed on trade finance providers in recent years that entire new industries have been born to manage trade finance due diligence and trade finance compliance. ☑️🔍📌 ▪️The expansion of the Know Your Customer (KYC) Customer Identification Program (CIP) and anti-money laundering (AML) laws require banks, trade finance providers and other financial sector companies involved in international trade to perform far more customer due diligence than ever before. ☑️📌 ▪️Transactions undergo anti-money laundering (AML) scans in real time for sanctions violations and suspected money laundering, with many different parties investigating alerts and reporting to the relevant authorities.☑️📌 ▪️Top trade finance providers go even further, continually parsing its global network of banks, terminating future business with those that do not meet the necessary standards and deepening relationships with those that are a safe partner for clients and their trading counterparts.☑️📌 ▪️A good provider needs to know each bank in its network thoroughly and should be able to verify that its banks offer responsive, accurate service and financial stability. These are all important factors when you are completing a major transaction in a distant region. 👌🏼✅📌 ▪️In 2018, IFC developed a training guidebook for emerging market banks called “Navigating Essential Anti-Money Laundering and Combating the Financing of Terrorism Requirements in Trade Finance: A Guide for Respondent Banks” (IFC, 2018a, called “the Guide”). IFC’s Global Trade Finance Program connects a broad network of correspondent banks with emerging markets’ respondent banks. 🏦📌 ▫️Finally Trade compliance really matters because it ensures standard trade practices worldwide. It's a series of legal obligations for all businesses to protect consumers, suppliers and the businesses themselves. It guarantees uniformity of goods standards and requirements for ethical, environmental, price and quality controls.☑️👌🏼🏦📌 #worldbankgroup #globaltradefunding #wto #ICC #tradecompliance #tradefinance #amlcompliance #bankingandfinance #CDCS

The increasing flow of global trade and cross-border transactions necessitates businesses to expand internationally for optimal growth and reaching a broader customer base. Consequently, the significance of swift, dependable, and cost-efficient cross-border payments has heightened. Businesses embracing transparent and seamless cross-border payment systems are preferred by international customers over those relying on sluggish, unclear, and outdated processes. https://lnkd.in/gJ2MJP63 #payments #banking #trade #treasury #iso20022

FinTech Magazine caught up with Saphyre Co-founders Gabino Roche Jr and Stephen Roche, to discuss how US operational settlement must adapt to new T+1 regulations. More below. #Tplus1 #Trading #Fintech

I love supporting a wide range of business partners at FNBO and the Global Banking team does amazing work! Discover how innovations in cross-border payments are revolutionizing global trade in our latest blog post by @Kalli Heupel. #FNBOInsights #WorldTradeMonth.

Trade finance – the weakest link? At #Sibos 2023 in Toronto, Dave Loeser, Senior Director, Product Strategy at LexisNexis Risk Solutions, spoke with #FinextraTV to discuss the #tradefinance gap and the impact of shifting #regulations on #FinancialInstitutions, #cargo carriers, and #insurers. He also shares #insights into red flags for potential #sanctions violations and trade-based #MoneyLaundering, plus the transformative power of #digitization in bridging the #trade finance gap. https://lnkd.in/dF27tkNj Sibos #Sibos2023 #SWIFT #fintech #events #finance #money #economy #payments #bank #banking #financialservices #technology #innovation #future #trends #modernization #internationaltrade #regulators #compliance #risk #riskmanagement #sanctionsscreening #crossborderpayments #AML #KYC #derisking #supplychainfinance #cashmanagement #digitalization #identity #controlledgoods #cargocarriers #financialecosystem #paymentrails 

Discover how innovations in cross-border payments are revolutionizing global trade. Learn more in our latest blog post. #FNBOInsights #WorldTradeMonth.