Banking on Technology: The business case for modernising trade finance

Digitalisation is an almost $2 trillion opportunity in trade finance and banks have a crucial role in this ecosystem. Many global banks, however, are still behind in digitally transforming their trade finance functions. What’s holding the industry back from accelerating its digital agenda? Here are some industry perspectives from a recent International Chamber of Commerce […]

Blockchain’s potential to change the face of trade finance

Of all the learnings from the pandemic, the realisation that digital transformation is no longer a choice is perhaps one of the largest – and global trade is no exception to this. Recent challenges across the industry, such as the Suez Canal crisis and disruption to the supply chain at the height of the pandemic, […]

Trade Digitisation: The catalyst for growth in developing and emerging markets?

Trade is the lifeblood of any economy. However, many regions are still unable to reap the benefits that international networks of trade provide. Developing and emerging markets are often held back through lack of access to global trade finance infrastructures, as well as the associated high costs. These markets are keen to trade and engage […]

Disrupting trade finance with Contour

Published on January 29, 2020 | Article link Author: Chris Sunderman Blockchain lead for trade finance at ING wholesale banking The Letter of Credit, one of the oldest trade finance instruments, is being transformed through the use of blockchain. We have all heard about blockchain and since its origination, a huge number of articles about […]

Rio Tinto, Baosteel carry out Rmb deal on Contour as new banks join network

Global / 13 May 2020/ By Eleanor Wragg Article source: Global Trade Review (GTR) Blockchain trade finance network Contour has chalked up another first, with the completion of a transaction between Rio Tinto and Chinese state-owned steel firm Baosteel marking the first paperless renminbi (Rmb)-denominated deal in the iron ore industry. The deal, in which […]