Finverity Joins Forces with Industry Leaders at GTR MENA to Discuss Closing the $1.5 Trn Trade Finance Gap
- Trade Finance
- 16.02.2021 08:41 pm
Finverity, the UK cross-border supply chain finance platform, is pleased to announce its co-founder and CEO, Viacheslav Oganezov, will be speaking at Global Trade Review MENA, the trade and export finance conference, on 17 February at the 11:00 am session (Gulf Standard Time); also available on-demand upon free registration.
“Better together: can technology and innovation help close the trade finance gap?”
The session will consider how a three-pronged collaborative approach involving technological innovation, new regulatory priorities in the role of government and multilateral support can play a role in reducing the current $1.5 trillion trade finance gap and supporting trade growth.
Moderator: Vincent O’Brien, Member, Executive Committee, ICC Banking Commission
- Sudhir Dole, Chief Executive officer, Trade Information Network
- Carl Wegner, Chief Executive Officer, Contour
- Lisa McAuley, Chief Executive Officer, Global Trade Professionals Alliance, GTPA
- Sean Bowie, Head of Products, Global Trade Receivables Finance, SABB
- Viacheslav Ogazenov, co-founder and CEO, Finverity
The significant unmet demand for trade and supply chain finance globally has been well documented and showed no signs of improving even before the pandemic. The Asian Development Bank estimates the global trade finance gap now stands at US$1.5 trillion, with the pressure on SMEs perhaps the most acutely felt. The World Economic Forum forecasts that the trade gap could rise to US$2.5trn by 2025, a forecast made before the start of the COVID-19 pandemic. The trend is likely accelerating as the pandemic and trade conflicts prompt further reshuffling and nearshoring.
Viacheslav Oganezov, co-founder and CEO, Finverity, commented: “This is an incredibly exciting time of opportunity for supply chain finance, which has been supercharged by current market conditions. The demand for this type of financing has grown from the corporate side due to the Covid-19 pandemic-related shocks. At the same time, funders are increasingly looking for stable and uncorrelated yield alternatives given the almost negative interest rates and negligible yields offered by traditional fixed income. This is leading to an influx of capital into this growing asset class. Yet, technology is needed to effectively match demand and supply, operate the transaction efficiently via automation and provide transparency into the underlying assets. We look forward to discussing these issues at GTR MENA and welcoming corporates and funders to our digital deal room.”
Finverity will be operating a digital deal room at GTR MENA, which will demonstrate to funders a snippet of MENA-based supply chain finance deals available to fund on the Finverity platform and allow corporates to submit their funding requests.
Join the session at GTR MENA, click here