Trade Finance Talks

Italy perspective - The future of open banking: automatic IBAN, PSD2 and APIs

The current banking landscape is going through a makeover. PSD2 and open banking has it’s advantages, but there are also many opportunities to continue to level the playing field, share risks and revisit the rules.
The Pandemic has driven the acceleration of open banking, from automatic IBAN and Identifier checking, to increased partnerships via APIs. 
Today, discussing, the importance of open banking ecosystems and the need for global digital transformation, I’m joined by Industry expert Liliana Fratini Passi, Managing Director at CBI and Vice Chair of UN/CEFACT.
Read the full transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-ep70-italy-perspective-future-of-open-banking-automatic-iban-psd2-apis/

Digitising trade: the time is now

World trade is central to economic growth and as we emerge from the pandemic, trade is paramount in enabling the global economy to recover. 
We’ve discussed trade digitisation and its many facets for some time now, but the pandemic has now rendered this critical, potentially a tipping point for scalable progress in digitisation.
But it’s not easy. Digitising a complex ecosystem involving myriad actors, rules and regulations, sprawled across both physical and financial supply chains in multiple countries and industries is a challenge. 
Today, discussing, legal harmonisation, Richer data and standards and interoperability, I’m joined by Industry leader and one of TFG’s Women in Trade, Louise Taylor Digby, Head of Trade Strategy at SWIFT.Full transcript: https://www.tradefinanceglobal.com/posts/podcast-s1-ep69-digitising-trade-the-time-is-now/

The freight crisis: HGV driver shortage, shipping blockages and the digital future of freight

Global supply chains have been and continue to be deeply impacted by the changes that have taken place in the last 12 months. From the Suez canal debacle which showed just how interconnected global supply chains truly are, to the current shortage of HGV drivers in the UK which poses a serious threat to supply lines to schools and hospitals, it is fair to say that the industry is, currently, facing significant challenges. 
Is the industry at a breaking point? And what can we learn from these challenges? To help me explore these questions I have Sam Greenhalgh, UK Sales Director at Zencargo!
Full transcript: https://www.tradefinanceglobal.com/posts/podcast-s1-ep68-freight-crisis-hgv-driver-shortage-shipping-blockages-and-the-digital-future-of-freight/

WOA Insights: Receivables rebounding and the role of open account finance post COVID-19

Open account business - buy now, pay later - drives economic activity worldwide. And during times of volatility, uncertainty and of course, the pandemic, the need for solutions when it comes to receivables finance has never been more pronounced. With more market participants, the rise of non-bank lenders, a drive towards digitalising the open account ecosystem, there’s a lot going on. 
So today, I’m joined by the two co-founders of WOA, Erik Timmermans and John Brehcist.
Full transcript: https://www.tradefinanceglobal.com/posts/podcast-s1-e67-woa-insights-receivables-rebounding-role-open-account-finance-post-covid-19/

Chief Economist insights: are iron ore prices propping up global trade?

Today we’re talking about some of the changes in trade in goods volumes, over the past 12 months. A lot has changed. We’ve had a commodity supercycle, with prices surging despite low volumes and amidst the pandemic, trade tensions continue all around the world. 
World trade of goods has declined some 12% in the last year, representing a loss of $22 trillion USD of trade. Is it all doom and gloom for trade, or will we see a resurgence? Data also lies at the heart of this problem, with siloed or even duplicated trade data flows. Today I’m catching up with Trade Data Monitor’s Chief Economic Analyst, John Miller.
Full transcript: https://www.tradefinanceglobal.com/posts/podcast-s1-e66-chief-economist-insights-are-iron-ore-prices-propping-up-global-trade/

ICC Banking Commission’s Lynn Ng on the need to simplify trade

The ICC Banking Commission is one of the leading global rule-making bodies for the banking industry, producing universally accepted rules and guidelines which are vital in facilitating trade-led growth and development. From the Uniform Customs and Practice rules for documentary credits to rules on collections, demand guarantees and electronic rules, ICC’s rules underpin trillions of dollars worth of trade going through banks each year.
TFG’s editor, Deepesh Patel spoke with Lynn Ng, ICC’s new Banking Commission chair to discuss ICC’s new governance strategy moving forward and some of the key priorities for the Banking Commission.
Full transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e65-icc-banking-commissions-lynn-ng-on-need-to-simplify-trade/

Electronic Documents and English Law: the roadmap to digital trade documents

If sustainability and blockchain aren’t the biggest buzzwords in trade finance right now, it’s MLETR - the model law on electronic transferable records.
In this episode, we discussed the realities of implementing the United Nations Model Law on Electronic Transferable Records into local markets, an incredibly important advancement in accepting electronic signatures, with Sarah Green, Law Commissioner, English Law Commission.
Full Transcript Here: https://www.tradefinanceglobal.com/posts/podcast-s1-e64-electronic-documents-and-english-law-the-roadmap-to-digital-trade-documents/

Sanctions: Rolls Royce, on the tactical complexities of voluntary reporting

Reporting Export Incidents, whether on a voluntary or involuntary basis, as well as investigating non-compliance in relation to trade finance operations, is of huge importance to multinationals, banks and policy makers. With that in mind, Spencer Chilvers, Head of Export Control Policy, Rolls-Royce to discuss export controls, the current sanctions environment, and the future, on Trade Finance Talks!
 
Full Transcript Here: https://www.tradefinanceglobal.com/posts/podcast-s1-e63-sanctions-rolls-royce-tactical-complexities-voluntary-reporting/

Trade Finance Week presents: African Trade - Digitalisation, Compliance and Sustainability - Standard Bank and Afreximbank

As part of Trade Finance Week by ICC Austria, we continued Trade Finance Week, with an African view on global trade.
For trade and supply chains in Africa, access to trade finance, the past 15 months have been incredibly tough for lives, livelihoods and economies, particularly in emerging developing markets. But trade must go on. If anything, the COVID-19 pandemic has accelerated many efforts to rethink the way we do trade. Is paper really necessary and is there a way that we can rethink trade documents? How has trade based financial crime fared in Africa, and what must we do to keep bad actors out of the trade system? And is this finally an opportunity for us to bring sustainability right to the forefront, as a business imperative, rather than just a nice to have? In this podcast, we talk AfCTFA, MANSA and the digital future of African trade, discussing trade digitisation, risk and compliance and sustainability.
Featuring:
Eleonore Treu, ICC Austria
Kwabena Ayirebi, AfreximBank
Isaac Mahanke, Standard Bank
Full transcript here: https://www.tradefinanceglobal.com/posts/video-africa-focus-trade-digitisation-trade-finance-week-2021/ and here: https://www.tradefinanceglobal.com/posts/video-africa-focus-sustainable-trade-trade-finance-week-2021/ 

The LIBOR transition and trade finance

By the end of 2021, it’s anticipated that these rates will be discontinued, transitioning to the Sterling Overnight Index Average, or SONIA for short, and, for US Dollar benchmarks, the Secured Overnight Financing Rate, SOFR). But what does this mean for trade finance, trade finance documents such as Master Participation Agreements, products, and what are the current recommendations?
Full transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e61-libor-transition-trade-finance/