A growing number of banks surveyed by FIS plan to increase spending on technology next year, as efforts accelerate to upgrade trade finance platforms and incorporate artificial intelligence. Financial technology giant FIS says just over half of 200 banks quizzed expect their technology budget to increase over the next year, with improving operational efficiency and ...| Global Trade Review (GTR)
Aon has made three senior appointments – two external and one internal – to newly created roles within its credit solutions division.| Global Trade Review (GTR)
The World Bank has agreed to guarantee funding to Banco do Brasil, enabling the bank to offer up to US$700mn in trade finance to MSMEs. The Multilateral Investment Guarantee Agency (Miga), an arm of the World Bank, will provide a 95% guarantee on a three-year loan provided to Banco do Brasil by BBVA and ...| Global Trade Review (GTR)
Pakistani fintech Haball has raised US$52mn in equity and debt as it plans expansion of its SME lending platform to Saudi Arabia later this year. Haball operates a shariah-compliant supply chain finance (SCF) platform, Wisaaq, which operates through partnerships with funding banks. It has secured a US$5mn equity investment from Pakistani venture capital firm ...| Global Trade Review (GTR)
The high costs of offering global trade finance may cause some large lenders to scale back and open the way for more specialised and regional lending, JP Morgan’s Natasha Condon has said. “Being a big international trade bank is really expensive. It’s getting more expensive every year, and that means there are going to be ...| Global Trade Review (GTR)
Standard Chartered is the first bank to announce it will align its trade practices with the ICC’s Principles for Sustainable Trade Finance.| Global Trade Review (GTR)