Trade finance

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Times International picks SaaScada for core banking build out

Global trade is forecast to increase between 30% and 70% by 2030, with 80% relying on trade finance.

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Modefin secures African distribution deal with Finastra

Finastra, a global provider of financial software applications and marketplaces, and Modefin, a global fintech solution provider helping banks to thrive in the digital age, today announced their partnership to offer Finastra’s Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets.

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NBP taps Finastra and InfoTech to modernise trade finance operations

Finastra has today announced that NBP (National Bank of Pakistan) has implemented Finastra’s Fusion Trade Innovation solution to power its trade finance operations.

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Ashman Bank and nCino partner for proptech venture

nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced its partnership with Ashman Bank, a new entrant bank with plans to transform the banking experience for UK property SMEs (small and medium sized enterprises), a £90bn market opportunity.

Swift and MonetaGo tackle trade finance fraud

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Swift and MonetaGo tackle trade finance fraud

Swift has teamed up with vendor MonetaGo to launch a trade financing validation service for the messaging network's 11,000+ members.

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Capital on Tap secures credit facility

Global FinTech Capital on Tap has secured a £100 million corporate revolving credit facility with Atalaya Capital Management to provide small businesses in the UK and US with a central hub to manage all aspects of their business finances.

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Citi makes Apac treasury and trade appointment

We are pleased to announce that Kanika Thakur has been appointed Head of Corporate, Commercial and Public Sector Sales for Treasury and Trade Solutions in Asia Pacific.

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Brinc buys shares in Asian digital asset exchange

Brinc, a leading global venture accelerator founded on a sustainability mandate, announces its partnership with Fusang Corp, owner and operator of Asia’s first fully licensed and regulated digital exchange for security tokens and assets, to make startup investment more inclusive by leveraging blockchain technology and unlocking the use of a regulated digital asset exchange, wholly owned by Fusang Corp, namely Fusang Digital Asset Exchange.

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DBS launches AI-based financing tool for SMEs

Just as the Covid-19 pandemic looked like it was under control, SMEs in Singapore are now grappling with an inflationary environment, an impending GST hike, supply chain challenges, and rising interest rates.

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UBCI selects Profile Software’s treasury management package

Profile Software, a leading financial solutions provider, has announced today that UBCI (Union Bancaire pour le Commerce et I’Industrie) has selected Acumen.plus, the internationally implemented Treasury Management solution, to effectively cover the entire spectrum of treasury and streamline their operations in the most efficient way.

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Standard Chartered launches digital portal for near real-time trade transaction status

Standard Chartered announced the launch of Trade Track-It, a one-stop digital trade transaction portal that offers its clients end-to-end visibility of their trade transaction status globally.

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Finastra connects with Contour for digital trade finance

Today at Sibos 2022 in Amsterdam, Finastra announced a strategic collaboration to integrate its Fusion Trade Innovation software with Contour, the global digital trade finance network, providing banks and corporates with a streamlined end-to-end back-office workflow. Users may access their data through either platform, providing banks with increased efficiency and faster turnaround times when processing Letter of Credit transactions. Ultimately, it opens the door for increased access to trade finance and stronger returns for banks.

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HSBC launches trade finance platform in UK and Hong Kong

HSBC has launched HSBC Trade Solutions (HTS) to customers in its two largest markets - the UK and Hong Kong. While making trade simpler, faster, and safer for customers through integrated digital journeys, HTS will power commerce that is rapidly evolving across different platforms and ecosystems.

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Newgen ships low code trade finance platform for banks

Newgen Software, a leading global provider of digital transformation products, launched the world’s first low code Trade Finance platform at the recent customer meet in Mumbai, India.

JP Morgan teams up with Cleareye.ai for digitising trade finance solution

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JP Morgan teams up with Cleareye.ai for digitising trade finance solution

JP Morgan has announced their partnership with Cleareye.ai to bring ClearTrade, a trade financing digitising solution, to banks. The platform will be integrated into JP Morgan’s Trade Processing System that has rolled out in the APAC region and will be launched globally in the coming months.

UK banks suffering due to lacklustre sustainable trade finance – Pole Star

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UK banks suffering due to lacklustre sustainable trade finance – Pole Star

90% of UK banks and 56% of Swiss banks have lost business in the trade finance industry due to lack of decarbonisation financing terms, according to research from Pole Star. The maritime, governmental, and financial technology solutions company is calling for environmentally-driven regulation for banks falling behind on sustainability and carbon emission reductions.

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Standard Chartered tests solution to mitigate duplicate trade finance fraud risk

Standard Chartered has successfully completed an industry-first pilot testing of the Trade Financing Validation Service provided by MonetaGo over SWIFT, to mitigate the risks of duplicate trade finance fraud on a global scale.

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Vietnam's BIDV selects Surecomp trade finance suite

Surecomp today announced that the Joint Stock Commercial Bank for Investment and Development of Vietnam, commonly known as BIDV, has gone live with its DOKA™ and allNETT™ solutions to fully digitize trade finance processing.

Lloyds completes UK's first digital promissory note purchase

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Lloyds completes UK's first digital promissory note purchase

Lloyds Bank is bringing a 4000-year-old debt instrument into the 21st century, completing the UK's first transaction using a digital promissory note purchase.

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UOB and Doxa team up to digitise trade financing and procurement

UOB and Doxa are collaborating to enable companies to move their procurement and trade financing processes online. They signed a Memorandum of Understanding (MOU) today with their client Kimly Construction Private Limited (Kimly Construction), for the execution of the trio’s first green trade finance transaction together.

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