The Latin American banking industry has experienced huge growth over the past two decades. In an interview with The Banker’s Silvia Pavoni, BNY Mellon’s Head of Treasury Services for Latin America, Dino Sani discusses how well-equipped financial systems, expert knowledge on managing volatility and a strong regulatory framework has led to the growth of regional giants.
When speaking on how technology will shape competition in the future, Dino Sani said, “In the short-run, the biggest challenges are not the current economic situation or the Covid-19 and how it affects our countries. For financial institutions, new technology is the main challenge – they need to reinvent themselves to be in the market, otherwise the markets will reorganise and the technology might make it more difficult for the more traditional banks to compete”.
To listen to the full video, click here and scroll to the bottom of the web-page.
As we come to grips with the Covid-19 pandemic, supply chains across the globe are under immense pressure. An unprecedented demand for supplies from supermarkets is offset by a demand slump from restaurants, cafes, hotels and bars that have been forced to shut their doors. This disruption will create new challenges for transaction bankers and may lead to long-term changes in global trade patterns.
“Filling in gaps in the supply chain, however, will come with new risks. Banks will need to weigh up the overall cost of this risk exposure in serving their clients, especially small and medium-sized enterprises”, says Joon Kim, Global Head of Trade Finance Product and Portfolio Management at BNY Mellon.
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The International Chamber of Commerce (ICC) estimates a possible US$ 5 trillion of trade credit will be needed to enable a rapid recovery from the COVID-19 crisis. In turn, ICC warns in a new paper that proactive government interventions will be needed to ensure the market can power an economic rebound in the wake of the COVID-19 crisis.
The news was covered by TRF News, Trade Finance Global, Fintech Finance, Trade Arabia, Gulf Industry News, GTR, TXF, Hellenic Shipping News.
As industries go, trade is not typically known for being nimble. Yet, the unprecedented circumstances of the COVID-19 pandemic are forcing the hand of those in global trade, and banks are swiftly adapting to ensure they can continue playing their fundamental role in enabling the wheels of trade to turn.
Though there are undoubtedly significant hurdles to overcome in the shorter term, once the world settles, we have the opportunity to harness technology to create a new norm – propelling trade finance into a new era of more efficient, streamlined, value-added transactions.
The article can be found here.
The International Chamber of Commerce (ICC) has released its 2019 Trade Register Report, revealing COVID-19’s potential to disrupt global trade, while also highlighting the low-risk nature of trade finance.
The 2019 report captures a full decade of trade finance-related data – containing nearly US$ 16 trillion of exposures from 32 million transactions across six products and 25 banks worldwide. Results indicate that default rates for trade finance products from 2008-2018 are low across all products and regions.
The report also features a number of topical contributions and commentary on global trade from leading experts – including a comprehensive analysis of COVID-19’s impact on global trade.
Read the full report here.
The news was covered by GTR, TXF, Trade Finance Global, Finextra, Business Money, TRF News, Trade Arabia, The Asian Banker, Hellenic Shipping News, Fintech Inshorts, Fintech Insight.
Writing for ExportManager, Deutsche Bank’s Carmen Chan, Head of Trade Finance Greater China, Dr. Dirk Lubig, Head of Global Transaction Banking China and Ulf-Peter Noetzel, Chairman Trade Finance Financial Institutions, explain how China’s recovery will have a direct impact on exconomic activity across the globe.
Its experience and journey out of the crisis also provides significant foresight as to what may happen over the coming months in Europe in terms of trade flows, supply chain adaptations and financing.
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Deutsche Bank has released its Guide to Trade Finance, outlining the fundamental practices and rules critical to the trade finance industry’s ongoing functioning and future development.
Assembled by a group of seasoned trade finance professionals, the guide represents a reference point for current and future professionals working in the field. Covering the nuts and bolts of trade finance, the guide sheds light on everything from the rules and practices associated with traditional trade and supply chain finance to the growing interest in blockchain and sustainable trade finance, among other topics.
Read the full report here.
The news was covered by The Asset, Payment Expert, Hellenic Shipping News, TRF News, Fintech Insight, Treasury Management International , CTMFile, Fintech Finance, Finextra, Fintech Bulletin.
Commerzbank has been named the world’s best export finance bank and Germany’s best trade finance provider for 2020 by specialist publication Global Finance.
Enno-Burghard Weitzel, Cluster Lead Trade Finance, Commerzbank, said: “Our 150-year history has been underpinned by building the trust of our clients – to help them expand into international markets and fulfil their business objectives. For us, these awards therefore represent a vote of confidence from the large corporates, the Mittelstand and the small enterprises that we serve.”
Moorgate, a Finn Partners company, prepared Commerzbank’s submission papers. More information can be found on the Global Finance and Commerzbank websites.
In a Global Finance article examining how trade finance is moving out of the paper age, Joon Kim, Global Head of Trade Finance Product and Portfolio Management at BNY Mellon Treasury Services, explains the value of AI in reviewing and authenticating trade documents, as well as in creating standardisation and improved efficiencies in KYC processes. Kim also notes the importance of data in enhancing trade finance.
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BNY Mellon was recently named Best Transactional Bank for Financial Institutions in the Middle East by EMEA Finance magazine – an accolade that that has been published by the American Lebanese Chamber of Commerce. BNY Mellon was recognized for its commitment to providing exceptional client service, its strong banking relationships – on a non-compete basis – and its focus on enhancing the client experience.
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