Digitisation in trade finance – A tough nut to crack?
Trade finance has lagged other financial services in moving from paper to digital. One major reason is the number of players and stages in the trade transaction flow, and the fact that standardising processes and practices is particularly challenging when multiple industries are involved as well as multiple geographies. Despite these challenges, a lot of progress has been made. What technology advances have been made and what about bank readiness in Trade Finance – is there more to do? In this session the panel will discuss the challenges, outline the drivers and take a look at the short term developments in this area.