Growth in regulation impacting lending, along with rapid globalization have put pressure on capital providers’ due diligence capabilities. Pair this with the inherent complexity of trade and project finance transactions and it is clear why many capital providers are now choosing to outsource their due diligence. Matt Reed, Associate Director at RedRidge Diligence Services, explains the trends in the sector.
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Technology is playing a crucial role in paving the trade landscape we see today. New capabilities are coming to the fore and presenting the opportunity to enhance existing processes across the trade finance spectrum. In an article for TradeReady, Dominic Broom, Global Head of Trade Business Development, Treasury Services, BNY Mellon, discusses how banks not only leverage technology to enhance the client experience through improved efficiency and transparency, but can also utilise the increasingly data-led, data management business of trade finance to gain a deeper understanding of clients’ businesses.
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Treasurers the world over rely on their transaction banks to provide robust services that cater to their daily financial needs – but the space has long been seen as somewhat ‘vanilla’. Now, however, technological developments and solution-driven innovations are starting to push traditional boundaries. TMI’s Executive Interview sees Daniel Verbruggen, BNY Mellon’s Head of Relationship Management Europe, Treasury Services, revealing his vision for the future of transaction banking and explaining the potential benefits for corporate treasurers.
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“With instant domestic payments, faster cross-border payments and technologies such as open Application Programming Interfaces (APIs) becoming more prevalent, treasurers have increasing access to ‘real-time’ functions. Yet, when it comes to creating a new real-time liquidity framework, industry collaboration will be crucial”, says Vanessa Manning, Deutsche Bank’s Head of Liquidity and Investment Solutions, GTB.
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Businesses and their banks are changing the way they approach trade finance and working capital management. The days where large corporates would implement individual products such as factoring or forfaiting to address isolated challenges are coming to an end. In their place, momentum is gathering for a more holistic approach, where corporates map out a wholesale plan to address their working capital needs and draw on a diverse toolbox of products to do so.
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Correspondent banking is evolving. Once a predominantly payments network, it is now developing into a ‘relationships network’ – with banks looking to facilitate seamless interactions between clients by connecting them on purpose-built digital platforms.
Corporate-to-corporate trading platform we.trade is already live and improving the way businesses trade with one another, and there is potential to take this further by combining we.trade with a corporate-to-bank initiative, such as the Trade Information Network – enriching interactions between buyers and suppliers through proactive support from a broad network of banks.
This could offer the best of both worlds. Corporates would achieve greater transparency when it comes to securing contracts, while banks would have the opportunity to introduce value-added services throughout the transaction process.
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On October 29th the U.K. government announced that the Private Finance Initiative (PFI) model for future projects will no longer be used – potentially making a significant shift for the means through which public projects are funded.
However, a new report published by S&P Global Ratings suggests that any resultant financing routes are unlikely to be game changing. Instead, they believe PFIs could still be used, albeit under a different guise.
Following Moorgate’s outreach, FT advisor , TXF News, and Public Finance covered the news.
Deutsche Bank has published a new whitepaper, hailing forward-thinking regulation as the catalyst for transformation within banking. According to the paper, entitled Regulation driving banking transformation, regulation needs to be globally aligned; technology-neutral; digitally relevant; embracing of new solutions; and industry-led.
With industry experts contributing from EBF, ASIFMA, Microsoft, Google, Ernst & Young and Latham & Watkins, this extensive study provides a valuable, in-depth analysis of the current regulatory environment, and its relationship with emerging technology.
Promotion from Moorgate resulted in coverage by Finextra, Finandium, Markets Media, Asset Servicing Times, FinTech Innovation HK, TXF, IBS Intelligence, Global Custodian, The Paypers, CTMfile, TRF News, FSTech, Monitor Daily and FinTech News .
In September, California Governor, Jerry Brown, unveiled a new gold standard for renewable energy in the U.S. – a mandate requiring the state to go 100% “green” by 2045. Yet for all the bill’s praise, a report published by S&P Global Ratings suggests that numerous technological and political challenges lie ahead.
As California edges towards its renewable goal, the economics of gas-fired generation promises to worsen. On the flip side, renewable energy will of course benefit though the extent of this will depend on the asset type. The durability and reliability of hydro and geothermal power, for instance, put these assets in pole position. Question marks remain over solar and wind, however: the intermittent nature of these resources will, according to some estimates, necessitate a 200-fold increase in battery storage. Development in this sector has yet to truly take off.
Following Moorgate’s outreach, Climate Change News, Infrastructure Investor, Energy Manager Today, Energy Manager Today, NA Clean Energy, and Environmental Finance covered the news.