The International Chamber of Commerce's (ICC) 11th annual Global Survey on Trade Finance reveals that banks are optimistic about the evolving nature of trade finance, though unsurprisingly expect various industry-wide challenges and disruption as a result of the COVID-19 pandemic.
Infor, a global leader in business cloud software specialized by industry, today announced that it is partnering with DBS Bank, Southeast Asia's largest bank, to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses.
Surecomp, the market leader in global trade finance and treasury solutions for banks and corporations, today announced the launch of its Trade Finance-as-a-Service (TFaaS) suite comprising back-office trade finance management and processing, front-office for banks’ corporate clients, open API connectivity and full access to its Marketplace. The new subscription-based service is fully scalable and offers a cost-effective and holistic solution... more
Surecomp, the market leader in global trade finance and treasury solutions for banks and corporations, today announced the launch of its new front-office solution Fastrade™, designed specifically for small-to-medium sized enterprises (SMEs). Fastrade™ allows banks to extend trade finance capabilities to their SME corporate clients, while SMEs can now also gain direct access to and benefit from fully digitized trade finance services.
Surecomp®, the market leader in global trade finance and treasury solutions for banks and corporations, today announced the launch of its new fintech Marketplace. Accompanied by the launch of a fresh new brand identity, website and API developer portal, the arrival of Marketplace epitomizes the evolution of industry change and digitization by offering a web-based platform providing single point access to other innovative solutions within the... more
AvaTrade, an award-winning forex and CFD broker, has announced the opening of its latest office in Warsaw, Poland. This expansion adds to AvaTrade’s growing international presence, including offices in Dublin, Milan, Tokyo, and Sydney, and is a significant step forward in the broker’s aim to accommodate the needs of traders internationally.
First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank
İşbank and Commerzbank have jointly run an international trade finance transaction based on distributed ledger technology (DLT). Payments were secured by digitally processing the related data transfer via Corda blockchain technology on the Marco Polo trade finance network. İşbank is the first bank in Turkey to perform a trade finance transaction using blockchain technology. The transaction took place on 27 May 2020 between İşbank, Şişecam,... more
Contour, the Singapore-based open trade finance network, has today announced its partnership with IntellectEU as part of a shared vision to digitise trade finance on a global scale. IntellectEU will function as an integrator of Contour’s blockchain platform, automating back-office flows for both financial institutions and corporates.
In response to current market needs and the rapidly evolving global trade landscape, China Systems, world-leading trade solutions vendor, has created a specialised Trade Digitalisation Services (TDS) Unit, which is composed of experts who have deep technical, project and business domain knowledge on International Trade operations.
Surecomp, the leading provider of global trade finance solutions for banks and corporates, today announced the opening of its Application Programming Interfaces (API) architecture to customers in a sandbox testing environment, setting the new open banking standard in the digitization of trade finance processing and connectivity.
Finastra has been named best global trade finance software provider by Global Finance at the Trade Finance Awards 2020. The accolade was announced at an awards ceremony held at the BAFT Global Annual Meeting in Frankfurt last week. It recognizes Finastra for its innovative technology in the trade and supply chain finance space.
Bolero International partners with Traydstream to automate scrutiny and compliance checking of trade documents
Bolero International is partnering with Traydstream, the leader in Trade document scrutiny using artificial intelligence (AI), to provide a powerful automatic document checking service for both its corporate and bank customers saving them time and resources as well as mitigating trade finance risks.
Stanbic Bank Uganda (SBU) and Traydstream Ltd have signed an agreement to implement the Traydstream platform at SBU. This platform is intended to digitize the current manual process of vetting Letters of Credit for Discrepencies. The trade document processing conducted over the past few months proved the dramatic improvement the Traydstream platform brings to SBU’s processing, turnaround and end-to-end trade capabilities.
Commerzbank and LBBW have set a new milestone in the digitalisation of commercial transactions based on blockchain technology
LBBW and Commerzbank have once again executed a trade transaction between Voith and KSB SE, via the Marco Polo trade finance network, built on R3’s distributed ledger technology (DLT) platform, Corda. This time, besides the two companies involved, logistics provider Logwin AG was incorporated into the digital process chain – directly, and in real time. This represents a milestone in the expansion of the digital trade finance ecosystem.