Past sibos: Toronto 2017

Banks and Trade Finance: unite to bring DLT alive or lose?

17 October 2017
14:00 to 15:00
Community session Conference Room 5
Partner and Managing Director
The Boston Consulting Group
Vice President/ Functional Head
Managing Director/ Director / EVP
R3 Holdco LLC
Global Trade & Receivables Finance

Competition for banks in the near future will not be each other, but the global tech behemoths. Banks need to work together to provide better customer solutions if they want to stay in the game in trade finance. While banks have a history of working together (e.g. on SWIFT), the level of information sharing and sophistication needs to drastically improve. Banks need to determine which parts of the infrastructure can be shared and where to differentiate. Distributed ledgers offer an opportunity to create this network, within the confines of a regulated market with strict data sharing laws and a very low tolerance for error. In this panel, industry experts will discuss the value creation potential of “smart contracts” enabled by the ledgers and how banks can join forces to make this a reality before others do.