Singapore – A Potential Hub for Offshore Renminbi Clearing by Carl Wegner, Greater China Head of Global Transaction Banking, Deutsche Bank Despite a softening in growth projections, China remains a major consumer of both hard and soft commodities and imports of these continue to grow, particularly base metals and agricultural commodities. With many soft commodities […]
UK businesses have received the strongest indication yet from government ministers that 2020 will mark the end of ‘frictionless’ trading between the UK and EU. This marks a step into the unknown for many businesses accustomed to smooth cross-border flows – not just with the EU but with other trading nations around the world. A […]
The decision to finance trade is based on the banks’ ability to reduce risk to an acceptable level in order to extend a loan. More often than not, this is done using one of the tried-and-true risk mitigation tools, such as a letter of credit (LC), a guarantee, or open account services. This intermediation has […]
After years of discussion, trade finance digitisation is finally gaining momentum. While acceptance is growing, challenges are still present in digitising an industry as traditional as trade finance. One well-known challenge is how new technologies and platforms such as Contour can be integrated and made interoperable with legacy IT systems that will continue to be […]
Contour’s network-based blockchain offering could finally move trade finance out of the dark ages With a Tier 1 bank-supported global network built around R3’s Corda blockchain, and interoperability with essential shipping and trading networks, Contour is ratcheting up the digitisation of trade finance. TMI had no hesitation in making it the outright winner of the […]
Vinay Mendonca (HSBC) and Carl Wegner (Contour) discuss how, with powerful API tools at their disposal and a willingness to co-create, treasurers can capitalise on the increasingly digital trade finance environment.
