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How We’re Reinforcing the ‘Open Account’

by Dave Phillips, Global Head for Trade Services and Supply Chain Finance, Lloyds Banking Group

What’s exciting, argues Dave Phillips, is how rapidly banking technology is developing to facilitate trade by meeting two supply chain funding challenges in today’s increasingly testing global environment.

In today’s uniquely risk-laden global conditions, how can we strengthen the essentially trust-based advantages of Open Account trading? It’s an intriguing, and to me, an increasingly pertinent question as UK corporates seek to streamline their financial supply chain in their drive into new and often unfamiliar international markets.