Strength in numbers: UniCredit’s Raphael Barisaac argues in Euromoney that all banks need to invest in the digitalisation of the trade finance space if the potential of new technology is to be realised

Although banks like talking about bringing digital services to trade finance, Euromoney’s annual trade finance survey 2018 revealed that few banks are currently actually using new technologies in their product offerings.

Commenting on these results, Raphael Barisaac, global co-head of trade finance at UniCredit, argued all banks need to invest in digital agendas if the potential of digital technology is to be realised.

“New digital services need to be offered by a significant number of banks. If not, banks will struggle to achieve critical mass and clients will only be able to use new technologies in a limited number of situations.”

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