Trade FinanceRSS

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 […]

Persia International Bank implements new trade finance software

Persia International Bank implements new trade finance system

London-based Persia International Bank is replacing its legacy trade finance system, supplied by Surecomp. The new system is Eximbills, provided by Surecomp’s rival, China Systems. Surecomp’s product, IBSNet, has been running at the bank’s London and Dubai locations for over 15 years. It is integrated with the bank’s long-standing core banking platform, Misys’ Bankmaster. It […]

Demica report shows strong growth for supply chain finance

Supply chain finaance

Technology will contribute to the development of the supply chain finance market, with the growth of e-invoicing systems seen as a significant market accelerator by the majority of the banking community.

Misys markets “competitive advantages” for trade finance

London-based Misys is targeting trade finance

Banking software provider Misys has incorporated global processing into its trade finance solution, TI Plus, in a move that the firm says will help banks gain a competitive advantage through improved customer service and reduced costs.

@banking
techno