Tagged: trade finance

Tint Financial Services Says it Has Topped $20 Million in Value of Goods Financed After Just 6 Months

Tint Finance Services, a UK-based Fintech that aims to help SMEs simplify supply chains, said it has topped $20 million (£15m) in trade finance just six months after. Tint was founded in 2023 by a group of banking and trade professionals. The mission of the… Read More

Fintech Platform Finastra, ELCY to bring Corporate Trade Finance Portal to Market

Finastra, a global provider of financial software applications and marketplaces, is partnering with ELCY, a specialist in e-commerce solutions for the processing of international trade finance, to provide a trade finance solution for corporates. The Corporate Trade Finance Portal from Finastra and ELCY will “enable… Read More

Monica Eaton of Chargebacks911: Fintech Exec Explains Why Banks Embrace Open Banking, Data Analytics for Trade Finance Operations

We recently sat down with Monica Eaton from Chargebacks911 to gain more insights regarding the partnership between Finastra and Microsoft and how it addresses the requirements of corporate clients. Eaton, founder and CEO at Chargebacks911, also commented on how the collaboration addresses the challenges banks face… Read More

Trade Finance Fintech Traydstream Acquires $21M in Funding via Series B Round

Traydstream, a fintech company at the nexus of digitizing and automating the trade finance industry, announced the successful completion of its $21 Million Series B financing round. Led by Pivot Investment Partners, a U.S.-based fintech investment firm, and e& capital, the investment arm of e&,… Read More

Trade Finance Solutions: Bank of America Introduces CashPro Supply Chain Services

As part of a multi-year effort to transform trade finance, Bank of America (NYSE: BAC) is launching CashPro Supply Chain Solutions, a platform that will offer participants in a supply chain the benefits of digitization with improved process efficiency and working capital optimization. CashPro is… Read More

Global Fintech 360tf and Ebury to Streamline Financial Services for UAE Clients

Ebury, a global financial solutions provider, is pleased to announce its partnership with 360tf, one of the pioneers of trade finance facilities in the UAE region. This collaboration will aim to improve how 360tf’s clients “access international trade solutions, providing seamless and direct access to… Read More

IFC Achieves Record Investment in Central Asia Amid Geopolitical Challenges

In a notable demonstration of faith in Central Asia’s growth potential, the International Finance Corporation (IFC), a member of the World Bank Group, has invested and mobilized a staggering $1.6 billion in the region during fiscal year 2023 (FY23). This investment, the highest ever for… Read More

Global Trade Finance Gap Hits Record $2.5tr Amid Economic, Geopolitical Volatility

The global trade finance gap soared to an unprecedented $2.5 trillion in 2022, escalating from $1.7 trillion two years prior, reveals the 2023 Trade Finance Gaps, Growth and Jobs Survey presented by the Asian Development Bank (ADB) today. This gap represents the discrepancy between requests… Read More

MENA Region’s Emirates NBD Makes Equity Investment in Komgo, a Tech Firm Focused on Trade Finance

Emirates NBD has announced it invested in Komgo, a software development and technology services company transforming the trade finance industry. The equity investment was “made by Emirates NBD‘s Innovation Fund, the bank’s corporate venture fund.” Emirates NBD’s corporate venture capital arm will “enable the Group… Read More

Trade and Supply Chain Finance Ecosystem Finverity Appoints New CMO

Finverity, the trade and supply chain finance digital ecosystem, announces the repositioning of its brand and product offering, together with the appointment of Adam Ryan as Chief Marketing Officer (CMO). Since its foundation in 2017, Finverity has focused “on fixing the $1.7tn+ global trade finance… Read More

Digital Transformation: Japan’s MUFG Joins Contour’s Network to Streamline Global Trade

Contour, the digital trade finance network, announced that the Singapore office of MUFG Bank, which claims to be Japan’s premier bank is joining its growing digital network. MUFG has a global presence “spanning around 50 markets, while its parent Mitsubishi UFJ Financial Group (MUFG) is… Read More

Blockchain Adoption: Commerzbank Is Reportedly the First German Bank to Complete Live Transactions on Trade Finance Network Contour

Commerzbank is reportedly the first German bank to have completed a blockchain-based Letter of Credit (LC) transaction for its client, Ascentex Exim LLP, a Singapore-based textile trader, on Contour, a digital trade finance platform. The LC was issued for “a shipment of rubber threads from… Read More

Digital Trade Finance Solution Provider Cleareye.ai Secures Investment from J.P. Morgan

Cleareye.ai, Inc., which claims to be the provider of a “category-leading” digital trade finance solution ClearTrade, for digital automation of trade compliance and operations, today announced it has secured a strategic investment from J.P. Morgan. The ClearTrade Platform, “built to revolutionize trade finance, is a… Read More

Accelerated Payments Launches Trade Finance Product

Irish Fintech Accelerated Payments has announced the laung of a trade finance product called AP Trade Finance (APTF). Accelerated Payments is a digital working capital platform with offices in Dublin, London, Toronto, and Florida. The company offers access to credit due to the strength of… Read More

Supply Chain Finance Firm Finverity Finalizes $5M in Equity Funding as Revenues Grow Steadily

Finverity, the digital ecosystem for trade and supply chain finance, announces it has raised $5 million in an equity funding round from new and current investors. New investors reportedly “include London-based Fintech specialist Outward, Amsterdam-based Acrobator Ventures and US-based s16vc founders fund with follow-on investments… Read More

Trade Finance Platform Marco Gets $200 Million Line of Credit, Focuses on Latam – US

Trade finance platform Marco says it has raised $200 million in a line of credit from MidCap Financial and Castlelake.  At the same time, Marco says it has raised $8.2 million in equity from Arcadia Funds. Marco states that the capital will help it to… Read More

Pakistan: Finastra’s Fusion Trade Innovation Solution Supports Lower Transaction Costs for NBP Clients

Finastra has announced that NBP (National Bank of Pakistan) has implemented Finastra’s Fusion Trade Innovation solution “to power its trade finance operations.” InfoTech (Pvt) Ltd., a systems integrator and Finastra’s exclusive authorized and certified reseller in Pakistan, “led the deal and implemented the solution, which… Read More

SWIFT, MonetaGo Deliver Key Milestone in Combatting Trade Finance Fraud

SWIFT and MonetaGo have achieved an important milestone in the global fight against fraud and duplicate financing, “with the live launch of the Trade Financing Validation Service provided by MonetaGo over the global SWIFT network.” This is “the first third party service, in trade, available… Read More

HSBC Introduces Digital Platform that Enhances Trade Finance

HSBC (NYSE: HSBC) has launched HSBC Trade Solutions (HTS) to customers in its two largest markets – the UK and Hong Kong. Whilst making trade simpler, faster, and safer for customers through integrated digital journeys, HTS will “power commerce that is rapidly evolving across different… Read More

Newgen Introduces Low Code Trade Finance Solution for Banking Institutions

Newgen Software, a global provider of digital transformation products, has introduced what it claims to be the first low code trade finance platform at the recent customer meet in Mumbai, India. Trade finance is a fairly complex process as it involves a lot of paperwork,… Read More

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