Trade finance

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Nordea launches blockchain-based trading platform for SMEs

/Trade finance

Nordea launches blockchain-based trading platform for SMEs

Nordea has launched a blockchain-based platform designed to make it easier for SMEs to trade with other companies in Europe.

Voltron consortium grows to over 50 banks and corporates

/Trade finance

Voltron consortium grows to over 50 banks and corporates

The blockchain-based trade finance coalition Voltron has swelled to over 50 banks and corporates following the completion of trials involving the simulation of multiple digital Letter of Credit transactions across 27 countries on six continents.

HSBC picks CGI trade finance tech

/wholesale

HSBC picks CGI trade finance tech

Banking giant HSBC is giving its global trade and receivables business a technology refresh with a new platform from CGI.

Citi to develop AI-based trade finance compliance platform

/ai

Citi to develop AI-based trade finance compliance platform

Citi is working with EY and SAS to on the development of an AI-based risk analytics scoring engine to provide more context and usable data to aid decision makers in reviewing trade transactions.

Fourteen banks back trade finance standardisation initiative

/Trade finance

Fourteen banks back trade finance standardisation initiative

Fourteen financial institutions have come together to promote common standards for trade finance in a bid to make it more appealing as an asset class for institutional investors.

Marco Polo blockchain network used for commercial transactions

/Trade finance

Marco Polo blockchain network used for commercial transactions

The Marco Polo blockchain trade finance network has successfully navigated unchartered territory, facilitating two commercial transactions involving Commerzbank and LBBW.

Hong Kong SME financing platform raises $15m for China push

/startups

Hong Kong SME financing platform raises $15m for China push

Hong Kong-based online SME trade financing platform Qupital is targeting the mainland after closing a $15 million Series A funding round led by CreditEase FinTech Investment Fund.

TradeIX to hire 70 more staff for Dublin HQ

/Trade finance

TradeIX to hire 70 more staff for Dublin HQ

Trade finance blockchain network TradeIX is to hire 70 more staff at its Dublin HQ, in a variety of roles covering engineering, sales, customer service and product development.

South African challenger Sasfin invests in Payabill

/startups

South African challenger Sasfin invests in Payabill

South African challenger bank Sasfin has moved to boost its SME business by buying a stake in local digital lending startup Payabill.

Commerzbank builds trade finance innovation lab

/Trade finance

Commerzbank builds trade finance innovation lab

Commerzbank has set up an innovation lab in Dortmund to investigate the use of technologies such as DLT in trade finance.

Voltron banks move closer to digital nirvana

/Trade finance

Voltron banks move closer to digital nirvana

The quest for a paper-free trade finance world has moved a step closer with the completion by BNP Paribas and HSBC of a fully digitised end-to-end letter of credit transaction between two different companies.

NZ bank ASB sets blockchain trades in motion with VerifyUnion; DBS debuts commodity pricing platform

/Trade finance

NZ bank ASB sets blockchain trades in motion with VerifyUnion; DBS debuts commodity pricing platform

ASB has partnered with VerifyUnion, a decentralised identification platform, to launch New Zealand’s first bank blockchain single trade window.

UK FS industry should create shared digital platforms - report

/Trade finance

UK FS industry should create shared digital platforms - report

UK financial firms, regulators and governments would benefit from increased efficiencies and cost savings if the developed shared digital platforms to more effectively tackle things such as customer background checks, regulatory reporting and fraud prevention, says a new report from Deloitte and TheCityUK.

Hong Kong Exchange preps DLT-based post-trade allocation and processing platform

/Trade finance

Hong Kong Exchange preps DLT-based post-trade allocation and processing platform

Hong Kong Exchange and Clearing Limited (HKEX) is teaming up with Digital Asset to build a blockchain platform for post-trade allocation and processing of northbound trades under the Stock Connect programme with China.

Sibos: Blockchain to the fore with Voltron; Accenture makes DLT interoperability play

/Trade finance

Sibos: Blockchain to the fore with Voltron; Accenture makes DLT interoperability play

Voltron, a coalition of banks building a blockchain-based network for automating Letters of Credit and trade finance documentation, has thrown open its doors to other banks and corporates ahead of a planned roll out in 2019.

National Bank of Canada and CGI pilot blockchain for trade finance

/Trade finance

National Bank of Canada and CGI pilot blockchain for trade finance

National Bank of Canada has teamed up with tech giant CGI to pilot a blockchain platform for negotiating standby letters of credit and guarantees.

NTT Data plans pan-Asian federated trade information platform based on blockchain

/Trade finance

NTT Data plans pan-Asian federated trade information platform based on blockchain

NTT Data has completed proof of concept phases including 14 Japanese logistics and financial companies, and interoperability with Singaporean and Thai national trade and customs platforms, as part of its plans to create an international trade data sharing platform.

Commerzbank applies machine learning to trade finance compliance

/Trade finance

Commerzbank applies machine learning to trade finance compliance

Commerzbank is to apply machine learning technology from Amsterdam-based Conpend to automate pre-compliance checks for traditionally paper-based trade finance transactions.

Top banks come together to build Trade Information Network

/Sibos

Top banks come together to build Trade Information Network

Seven top-tier banks have joined forces to create a single platform for trade and supply chain finance, helping corporates to communicate seamlessly across multiple banking partners.

Standard Chartered partners Huawei on IoT lending projects

/Trade finance

Standard Chartered partners Huawei on IoT lending projects

Standard Chartered is working with Chinese networking conglomerate Huawei on the development of IoT sensors that would automatically trigger payments to corporates by providing real-time data on the movement of goods.

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