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Banks join forces on digital platform to help firms trade globally

Banks join forces on digital platform to help firms trade globally

A group of 14 banks - including Santander, RBC and MUFG - has launched a digital platform designed to tackle international trade barriers.

The Trade Club Alliance aims to identify businesses that are looking to trade goods internationally and provide them with insight on regulations and trade tariffs for the relevant countries.

Members will get market information on more than 180 countries including currency analysis, market trends and shipping requirements, with the platform serving as a conduit for trusted buyers and suppliers to connect with counterparts in markets around the world.

The digital platform uses machine learning and cloud-based services with social networking capabilities to bring companies from a host of industries useful information to help them trade internationally.

Javier San Félix, head, global payment services, Banco Santander, says: "Through Trade Club Alliance’s combination of human connection and tech innovation, our clients can access a world of new opportunities. They can forge genuinely trusted relationships in new markets and have the latest trade tools and expertise at their fingertips."

Alliance members include Abu Dhabi Commercial Bank, Attiijariwafa Group, Banco BPM, CIMB, Crédit Agricole Group, Eurobank, KBC Group, Industrial Bank of Korea, Nordea Group, Siam Commercial Bank, and Standard Bank.

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