Trade FinanceRSS

Top fintech stories this week – 30 June 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

IBM and seven European banks team for SME trade finance blockchain project

SAP launches Blockchain-as-a-Service

A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.

Amsterdam Trade Bank revamps tech with Misys and Sentia

Michel Hofman, ATB

Amsterdam Trade Bank (ATB) is undergoing a major technology overhaul with Misys as a key partner. The bank is implementing Misys’ solutions from the Fusionbanking and Fusioncapital portfolios to modernise its corporate banking, treasury and capital management (TCM) and trade finance operations.

Trade finance and blockchain: the right time

Trade finance and blockchain

Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.

Amsterdam Trade Bank streamlines trade finance ops with CargoDocs 

CargoDocs

Amsterdam Trade Bank (ATB) has signed for CargoDocs DocPrep+ from specialist trade finance solutions provider essDOCS.

Misys out, Temenos in, at Persia International Bank

Persia International Bank in major tech overhaul

London-based Persia International Bank, a joint venture of two Iranian financial services groups, Bank Mellat and Bank Tejarat, is undergoing a tech revamp.

RBI investigates blockchain for financial applications in India

RBI examines blockchain opportunities for India

The Institute for Development and Research in Banking Technology (IDRBT), set up by the Reserve Bank of India (RBI), has recently issued a whitepaper, “Applications of Blockchain Technology to Banking and Financial Sector in India”. We summarise the report and highlight the key findings.

Seven European banks join forces for blockchain platform for SMEs

Major banks team up for blockchain platform for SME commerce

Seven European banks – Deutsche Bank, HSBC, Natixis, KBC, Rabobank, Société Générale and UniCredit – have agreed in principle to develop a blockchain-based shared platform for domestic and international commerce for SMEs.

Blockchain: the theme for 2016

Blockchain

Blockchain and distributed technology have been hot topics at Sibos this year, with a raft of announcements from banks and fintechs alike. One of the areas identified as of most promise is trade finance – an area of banking that is rife with paper-based processes.

Barclays and fintech start-up Wave pioneer blockchain trade finance transaction

Barclays-Bank

Barclays and fintech start-up Wave claim to have become the first organisations to complete a global trade transaction using distributed ledger/blockchain technology. Barclays is now calling on other banks to adopt Wave’s platform. “This can develop into an industry-wide improvement in how trade documentation is managed,” Barclays urges. The letter of credit (LC) transaction between […]

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