Tagged: trade finance

November 18, 2024 @ 8:47 am By Omar Faridi  |  

Surecomp announced that, together with BNP Paribas and Vanderlande, it has reportedly piloted a new corporate-to-bank connectivity standard designed by Swift and the International Chamber of Commerce (ICC). The Application Programming Interface (API)-based communication channel enabled Dutch logistics company Vanderlande – a key player focused on … Read More

September 4, 2024 @ 9:45 am By Omar Faridi  |  

Lloyds Bank has teamed up with Cleareye.ai, an artificial intelligence platform, leveraging AI to enhance the processing and compliance checking of trade finance documentation to enable efficiencies for customers. The innovative tech will use optical character recognition, machine learning and natural language processing algorithms in… Read More

July 29, 2024 @ 7:36 am By Omar Faridi  |  

XDC Network, the “enterprise-ready” blockchain for global trade finance and RWAs, is pleased to announce its collaboration with Deutsche Telekom MMS. Deutsche Telekom MMS is a subsidiary of Deutsche Telekom, which is said to be “one of the world’s leading integrated telecommunications companies.” The collaboration… Read More

June 30, 2024 @ 10:28 pm By Omar Faridi  |  

Real-World Asset Tokenization: A Game Changer for Global Trade, a new paper released by Standard Chartered and Synpulse, predicts that demand for overall tokenized assets could reach USD 30.1 trillion by 2034, and that trade finance assets “could become one of the top three tokenized… Read More

January 18, 2024 @ 8:42 am By JD Alois  |  

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

October 22, 2023 @ 2:38 pm By Omar Faridi  |  

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

October 15, 2023 @ 5:56 pm By Omar Faridi  |  

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

September 27, 2023 @ 11:59 am By Omar Faridi  |  

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

September 24, 2023 @ 6:01 am By Omar Faridi  |  

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

September 21, 2023 @ 3:18 pm By Omar Faridi  |  

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

September 9, 2023 @ 4:35 pm By Michael Wong  |  

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

September 9, 2023 @ 3:38 pm By Michael Wong  |  

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

September 6, 2023 @ 9:17 pm By Omar Faridi  |  

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

September 6, 2023 @ 3:22 am By Omar Faridi  |  

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

August 6, 2023 @ 8:24 pm By Omar Faridi  |  

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

July 27, 2023 @ 8:11 am By Omar Faridi  |  

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

June 26, 2023 @ 7:12 am By Omar Faridi  |  

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

April 27, 2023 @ 12:52 pm By JD Alois  |  

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

March 31, 2023 @ 9:27 am By Omar Faridi  |  

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

February 27, 2023 @ 12:02 pm By JD Alois  |  

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