Tradeteq’s Michael Boguslavsky on how machine learning can improve credit scoring for SMEs in TRF News

Michael Boguslavsky, head of AI at Tradeteq, and author of a newly-released whitepaper, “Machine Learning Credit Analytics for Trade Finance”, has written a commentary for Trade & Receivables Finance News where he discusses how machine learning techniques, combined with broader and deeper company data, can dramatically improve credit scoring for SMEs. Current scoring methods – such as forms of the Altman Z-score – are a primary reason SMEs so often fail to secure the trade finance they need, argues Boguslavsky.  Using new models, receivables finance becomes more accurate and less risky, making it a more readily available and less costly source of working capital for SMEs than ever before.

Go here to read the full article.

Tradeteq releases new whitepaper “Machine Learning for Credit Analytics” – covered in specialist press

Tradeteq, the trade asset distribution platform, recently released a white paper demonstrating how machine learning, combined with broader data collection, can improve access to trade finance for SMEs. Authored by Michael Boguslavsky, Tradeteq’s head of AI, and titled Machine Learning Credit Analytics for Trade Finance, the paper proposes a radical new approach to credit scoring that could particularly benefit SMEs in trade finance.

To read coverage of this news in the specialist press, please go here: Finance Digest, Global Banking & Finance Review, TXF, TRF News, Fintech press releases.

To download the whitepaper, please go here.

BNY Mellon discusses the evolution of trade in GTNews

Speaking to GTNews to mark the publication’s 20th anniversary, BNY Mellon’s Dominic Broom, Global Head of Trade Business Development, and Bana Akkad Azhari, Head of Relationship Management for the Middle East and Africa and the Commonwealth of Independent States, trace the most noteworthy drivers of global trade over the past two decades – including China’s introduction into the World Trade Organisation, technology’s role in cutting costs and streamlining the physical supply chain, and post-crisis regulatory changes that have opened the gates to new non-bank trade financing market entrants – which all indicate a resilient and versatile trade industry.

The revolutionised trade landscape is not void of challenges however, with Broom underlining “sticking points” in the development of the financial supply chain, such as management of documentation and tighter regulatory requirements. Pointing to technology’s radical effect on trade so far, Azhari highlights how bank data can be developed into digital solutions to address these issues and to analyse key global trends in order to add value to the client experience – with Broom adding the importance of correspondent banking to best harness and leverage this data to enhance trade enterprise across the world.

To read the full article, please click here.

It’s more than just apps: Commerzbank’s Edith Weymayr shows how digital banking is done in an article for World Finance

All banks want to take their products and services into the digital age. But Edith Weymayr, Commerzbank’s Divisional Board Member, Mittelstandsbank South, explains that true innovation means going further than developing flashy smartphone apps. In an article for World Finance magazine, she argues that “driving change requires taking a holistic, end-to-end strategy that can set new trends and, through collaboration, weather digital disruption” – taking inspiration from the bank’s ongoing transformation programme, “Commerzbank 4.0”.

Find the article on pages 72-73 of the latest edition.

UniCredit’s Raphael Barisaac in TXF on the importance of SMEs in driving the digital trade finance revolution

Whilst large and multi-national corporates may get all the attention when it comes to innovation in digital trade finance, Raphael Barisaac, Global Co-Head of Trade Finance at UniCredit, explains how small and medium-sized enterprises (SMEs) not only stand to benefit from digital trade finance tools, but are ideally placed to help drive wider adoption. Banks should therefore have SMEs at the front of their minds when creating new solutions, working together with them closely to ensure the development of optimal use cases of a tangible value added services.

To read the full article, please click here.

ICC United Kingdom’s Chris Southworth speaks to BBP Media on new opportunities for UK SMEs

In a recent interview with BBP media – the regional B2B publication – Chris Southworth, Secretary General at the International Chamber of Commerce (ICC) United Kingdom, discusses how local UK businesses and SMEs can stay ahead of challenges and make the most of new and existing opportunities.

In particular, he explains that businesses should actively continue building on existing trade relationships with their EU partners, as well as tap into new opportunities that may arise through trade with non-EU partners, such as the US and Commonwealth. Here, he adds the benefits of collaborating with local businesses and organisations like the ICC.

The full article can be read here.

Satago describes how on-demand business finance is supporting SMEs in Global Banking & Finance Review

The increasing convenience of modern living is driving expectations for 24-hour, instant access across many aspects of their personal and business lives. Yet, the financial services industry has had difficulties keeping up with demand from companies, including SMEs, which are looking for more efficient solutions.

Writing for Global Banking & Finance Review, Satago’s CEO, Steven Renwick, talks about the more tech-savvy alternative financiers entering the SME market. The article discusses how these financiers, by utilising the tools provided by fintech, are paving the way for the future with on-demand business finance solutions.

Renwick writes about the convenience and efficiency of fintech developments for SMEs: “ cloud-based platforms, data capture and analysis, and process automation capabilities are making business finance at the click of a button not just feasible, but profitable, and a win-win for all concerned.”

To read the full article, please click here.

In FX-MM, Satago explains how new technology capabilities are putting SMEs in control of their financing

The advent of the digital age is increasing the expectations of consumers and businesses alike for instant, round-the-clock payment solutions. While the financial market has been somewhat slow on the uptake, fintech developments – primarily driven by nimble alternative financiers – are becoming increasingly prevalent.

In an article for FX-MM, Satago’s CEO Steven Renwick explains how selective invoice financing brings flexible, on demand funding – allowing SMEs to have greater control over their borrowing. Selectivity is key to SMEs looking for autonomy over their finances, and Renwick writes that selective invoice financing provides just that: “SMEs no longer have to finance a whole ledger, and can instead work on an invoice-by-invoice basis, using fintech technology that enables them 24-hour, easy access to their finances.”

Renwick also highlights the need for further digital innovation in SME finance to help address challenges SMEs still face.

To read the full article, please click here. Please note a free subscription to FX-MM is required.

Satago’s Steven Renwick writes an article for GTNews on how tech innovation is facilitating easy-access business finance

Technological advancements are creating new opportunities in the field of SME finance, and alternative financiers are leveraging these digital capabilities to offer pioneering solutions to small businesses.

Writing for GTNews, Satago’s CEO, Steven Renwick, discusses the customer-first culture of fintechs, and how this is enabling them to produce exemplary and accessible finance technology. Renwick notes the ability for new fintech platforms to plug seamlessly into a company’s cloud accounting package, and, commenting on the efficiency of these new fintech tools, he writes: “Specifically, new fintech platforms are delivering a high level of flexibility and control to SMEs, allowing them to finance short-term funding gaps cost-effectively, as well as recover monies owed sooner.”

To read the full article, please click here.