Bank Leumi (UK) has appointed Andy Mallin as its new Chief Business Officer. Formerly Divisional Head of Real Estate Finance at Santander, Andy has over 20 years’ experience in corporate and commercial banking, and will report directly to Leumi (UK)’s CEO, Gil Karni.
In his new role, Andy will head activity across Leumi (UK)’s various business lines in order to develop an already strong existing business.
In September 2018, now-outgoing California Governor Jerry Brown signed SB100: a mandate to keep California on a path to deriving 100% of its power from clean sources by 2045. In an article for Utility Dive, S&P Global Ratings’ Michael Ferguson explains how this may mean significant credit implications for the state’s power generators.
Undeniably, SB100 is a boon for renewable energy assets in California. But it’s a mistake to consider these benefits to be mutually interchangeable — instead some assets stand to benefit more than others.
Ferguson writes: “While SB100 will naturally benefit existing solar and wind power, less obvious is by how much and when. Both asset types represent most renewable installations in the Golden State. Yet they are by no means immune from risk.”
In the way that “Insurtech” and “Regtech” have developed in recent years, a new wave of fintech is trending – that of “Tradetech”. Trade Finance Global investigates the Top 40 rising fintechs supporting international trade.
What is “Tradetech”?
As cross-border trade has digitalised, so an ecosystem has built up to support it – especially with respect to trade and supply chain finance, although also around logistics and in connecting key parties in the cross-border supply chain. Given this, the Tradetech 40 for the first time brings together this rising fintech sector’s leading companies and initiatives – representing every aspect of the technological advances being made to support today’s international trade.
The Tradetech 40 includes names that are instantly recognizable – such as Demica, Finastra (a merger of D+H and Misys) and China Systems. Yet it also includes initiatives such as Marco Polo (a trade network connecting banks, corporates and third party providers) as well as relatively new players such as Tradeteq (a trade finance assets marketplace) and TradeLens (a blockchain based platform jointly developed by Maersk and IBM).
The Tradetech 40 looks across the sector – grouping the companies and initiatives by their offering into five categories. These are: IT systems, asset distribution platforms, supply chain finance platforms, blockchain initiatives and those aiding the digitalisation of trade.
In an article for Trade Arabia, Olivier Paul, Head of Policy at the International Chamber of Commerce (ICC) Banking Commission, discusses the growing digitalisation of trade finance.
With a particular focus on trends in the Middle East and building on results from the ICC’s 10th Global Survey on Trade Finance, Paul explains that banks in the region are especially optimistic about the move towards paperless trade, despite lingering concerns relating to regulatory inconsistencies, for example.
New technology-based initiatives such as blockchain and robotic process automation (RPA) are presenting the opportunity for banks to deliver enhanced cash and trade capabilities. Daniel Verbruggen, Head of Relationship Management for Europe, Treasury Services, BNY Mellon, examines the new digital landscape and how, by working together through bank-fintech and local-global bank partnerships, banks of all sizes and reach can access innovative services and deliver a new, value-added experience to clients.
While tech was among GTR’s most-read category of stories for the year, one theme that drew great attention from readers included the decline of traditional trade finance instruments and the rise of trade asset distribution platforms. As the year comes to a close, GTR looks at website statistics to find out which stories its readers were most interested in.
GTR’s readers were particularly interested in the news that two former investment bankers, Christoph Gugelmann and Nils Behling, had launched a cloud-based platform that matches trade finance originators with institutional investors. Behling noted at the time that there is a “tremendous demand for trade finance assets on the institutional investor side, but actual volumes traded are still extremely small”.
ICC United Kingdom’s Trade & Supply Chain Finance Conference, featuring Julian Braithwaite, UK Ambassador to the UN and WTO, Stormy-Annika Mildner, Head of Economic Policy at BDI and our hosts, Falcon Group – all highlighting the need for a transition to paperless trade and the importance of the G20 roadmap.
Amid growing client demand for real-time services, the modernisation of high value payment systems and the continued evolution of regulation, payments industry players must ensure that client needs remain at the core of all innovation. So what are end users’ priorities in today’s landscape? What must banks and market infrastructures do to address them? And what will the future payments system look like?
These are the questions addressed by Marc Recker, Global Head of Market Management, Cash Management, in conversation with Joy Macknight, Deputy Editor of The Banker, as part of the magazine’s “Fresh Perspectives” video series.