#GlobalTradeFinance

ICC UK Introduces Initiative To Cope Duplicate Finance Fraud Recently, the ICC United Kingdom has reported launching a new drive to enhance the UK finance industry against the adverse effects of duplicate financing fraud. The Centre for Digital Trade and Innovation (C4DTI)operated initiative will use ICC United Kingdom’s convening abilities to convey this leading project under the C4DTI’s “Shutting Fraudsters out of Trade” workstream in association with MonetaGo. Duplicate Financing is defined as a fraudulent act where fraudsters avail multiple funds for the same transaction several times. In the present scenario, a fraudster can visit various banks and get the same transaction financed, without letting the other banks know or having them cross-check with the same. Guidelines related to confidentiality inhibit the banks from disclosing or sharing information on deals they have financed with other banks, creating a hopeless situation that fraudsters take advantage of to get funds for the same transaction multiple times. Read more: https://www.emeriobanque.com/news/icc-uk-introduces-initiative-to-cope-duplicate-finance #DigitalTradeandInnovation #UKfinance #ICCUnitedKingdom #financialservicesglobally #globaltradefinance

How Investment in Trade Finance Can Help SMEs Thrive? A healthy trading system depends on the availability of finance. Up to 80% of current Global Trade Finance is backed by credit insurance or other financing. However, there are sizable gaps in the available resources, making it difficult for many businesses to access the necessary financial tools. With sufficient trade finance, businesses can have the resources they need to trade and grow, taking advantage of opportunities for development and expansion. Small and medium-sized businesses (SMEs) need help finding financing with favourable terms. This is especially concerning because SMEs constitute a significant force in trade, employment, and economic growth. According to research, SMEs encounter these obstacles in developed and developing nations, but the difficulties are most significant in lower-income countries. Trade digitalization has no definition, but it typically entails the digital twining of supply chains, the dematerialization of documents, and the digital data exchange. It means adding an electronic or computerized layer to business processes. A key distinction in the new reality is that digitalization also refers to using digital channels to assist SMEs in creating value. By doing away with paper-based transactions, SMEs can increase productivity and transparency while avoiding delays brought on by physical documents getting misplaced or destroyed along the way. Read more: https://www.emeriobanque.com/blogs/how-investment-in-trade-finance-can-help-smes-thrive #GlobalTradeFinance #tradefinance #supplychains #SMEs #TradeFinanceServices #Letterofcredit #Tradefinanceinstruments

How to Grow And Revive A Struggling Business The mindset you have plays a crucial role in overcoming business failure. It starts with a willingness to adapt and a flexible, upbeat attitude. Whether or not failure inevitably leads to success depends on how we handle it. People tend to strike the most evident immediate issues with vigour and unreservedness. That makes sense and may even be wise from a business perspective. It is also a good idea to take a step back and consider the big picture to determine what is still effective and what may need to change. It is an opportunity to gain a deeper understanding of the size and scope of current issues and your company's business model, including how its weaknesses and strengths are implemented. Working capital financing from an external source is referred to as trade finance. Companies that export or import goods frequently use this type of short-term credit. Trade finance instruments are put to use here. It is typically supported by an insurance policy or secured against goods. Read more: https://www.axioscreditbank.com/blogs/how-to-grow-and-revive-a-struggling-business #StrugglingBusiness #TradeFinance #Letterofcredit #TradeFinanceService #Finance #GlobalTradefinance

Deutsche Bank splits trade finance leadership across Europe, Asia Jain (pictured), based in Singapore, and Frankfurt-based Resovac take over the role from Daniel Schmand, who earlier this year became global head of institutional cash management and head of corporate bank operations at the German lender. They will report to Stefan Hoops, head of Deutsche’s corporate bank. The bank says the double-headed structure reflects the changes in the trade finance industry in recent years “as technology, geopolitics, the pandemic and technology have rearranged the competitive landscape together with increased levels and complexity of risk”. Jain, who Deutsche describes as “one the bank’s most seasoned trade finance experts” has been with the bank for over two decades, most recently running trade finance and lending for Asia Pacific. Read more: https://ngulminthanglhanghal.wordpress.com/2022/04/29/deutsche-bank-splits-trade-finance-leadership-across-europe-asia/ #NgulminthangLhanghal #finance #Ngulminthang #tradefinance #globaltradefinance #SupplyChain

Trade Finance & SMEs - Reasons Why SMEs Opt For Trade Finance Small & medium-sized enterprises ie. SMEs have long been considered one of the key drivers for economic growth along with an exceptional ability to fuel employment in a country. The importance of SMEs in the global economy lies in the report issued by the World Trade Organization according to which SMEs represent over 90 percent of the business population, creating 60-70% of job opportunities and 55% of GDP in the developed economies. But unfortunately, despite their remarkable contributions to global trade development, the struggle of SMEs in securing affordable & flexible financing is not showing any positive signs, especially in international trade transactions. Many SMEs are unable to borrow from the traditional banks & have limited access to financial services leading to low productivity & exports. But why? The reason behind this lack of working capital is caused by imposed complexities by banks while applying for a loan. These institutions have become extremely risk-averse and are not willing to provide funding to companies with smaller balance sheets. Here, applying for global trade finance enables small & medium-sized enterprises to execute overseas transactions with sufficient cash flow. In this blog, we are explaining why SMEs opt for international trade finance. Read more: https://www.emeriobanque.com/blogs/trade-finance-and-smes-reasons-why-smes-opt-for-trade-finance #globaleconomy #globaltradedevelopment #internationaltradetransactions #globaltradefinance #internationaltradefinanceproviders #tradefinance