Tag: trade finance

BNY Mellon’s Dominic Broom discusses how technology can be used to plug the Asian trade finance gap in Asia Outlook

Increased banking regulations and higher compliance costs have led to a culture of de-risking, where many banks have been forced to withdraw from perceived “riskier” markets – with local businesses in developing Asia being particularly affected. Indeed, Asia and the Pacific bears 40% of the US$1.5 trillion global trade finance gap, representing the difficulty that …

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BNY Mellon’s Dominic Broom explains how banks are working together to bridge Asia’s trade finance gap in TradeReady

Asia is set to contribute 60% of the world’s economic growth in 2017, driven by growing external demand as well as domestic reforms. Yet, a recent Asian Development Bank (ADB) survey estimates that approximately US$600 billion worth of trade in the region is failing to secure the financing it needs – out of a total …

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BNY Mellon’s Dominic Broom writes for the ICC United Kingdom’s Trade Finance Conference

Although global trade has seen a decade of sluggish growth following the 2008 financial crisis, a recent rise in economic activity – particularly in Southeast Asia and certain Latin American markets – is increasing expectations for a resurgence in global trade growth. Yet two factors will be instrumental, Dominic Broom, BNY Mellon’s Global Head of …

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​Crown Agents Bank’s Albert Maasland cited in Global Risk Regulator on impact of Caribbean derisking

The Banker‘s Global Risk Regulator magazine has cited Albert Maasland, CEO of Crown Agents Bank, on the impact on the Caribbean of banks’ derisking. With the region having been “hurt disproportionately” by the withdrawal of correspondent banking services, Maasland notes that “Losing access to dollar payment capabilities for the commercial banking sector can be very, very difficult”.

Can distributed ledger technology fuel trade growth? BNY Mellon’s Renny Narvaez elaborates in FX-MM

While both trade growth and bank lending are still arguably strong, by enhancing the transparency and trust of existing and new sources of funding, there is potential for exponential growth. This is where distributed ledger technology could play a crucial role, Renny Narvaez, Senior Development Manager, Treasury Services, BNY Mellon explains in FX-MM – helping to …

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UniCredit’s Adeline de Metz and Raphael Barisaac in TXF Chronicle on bank-led collaborative initiatives bringing innovation to trade finance

The continuing move toward open account trade and away from traditional trade finance techniques offers corporates new levels of speed and flexibility, but it also exposes them to higher risks. Writing in TXF, Adeline de Metz and Raphael Barisaac, Global Co-Heads of Trade Finance at UniCredit, a number of bank-led collaborative initiatives are addressing the …

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ICC Banking Commission’s Dan Taylor explains how trade finance is changing fast in TradeReady

In an article for TradeReady, Dan Taylor, member of the International Chamber of Commerce Banking Commission’s Executive Committee, discusses why and how global trade is changing, as well as exploring the key links between trade, trade finance and value creation in the wider economy. In particular, innovative technologies encouraged by new, non-bank actors, increasing protectionism, …

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The top trends in finance today: Commerzbank’s Enno-Burghard Weitzel interviewed by The Banker

In a video interview filmed at the recent Sibos conference, The Banker‘s Joy Macknight asked Enno-Burghard Weitzel, head product management trade services at Commerzbank, for his take on the top trends in finance today, including progress on blockchain, the value of the bank payment obligation (BPO) and the rise of sustainable trade.

BNY Mellon partnership with ADB’s Trade Finance Program covered by press

In a signing ceremony that took place at Sibos, BNY Mellon became partner to the Asian Development Bank’s (ADB) Trade Finance Program (TFP). The program enables companies throughout Asia to engage in import and export activities through the provision of loans and guarantees by partner banks, such as BNY Mellon. Steve Beck, ADB’s Head of Trade Finance, …

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UniCredit’s Holger Frank and Siow Chin Yeo explain in GTR how banks are joining forces to digitalise the secondary market for trade finance

Holger Frank, Head of Global Transaction Banking and Financial Institutions Group, Asia Pacific, and Siow Chin Yeo, Head of Trade Finance, Asia Pacific, at UniCredit, write in GTR how banks, including UniCredit, are working together to address the absence of an efficient and widely-used secondary-market platform for trade finance. The solution comes in the form …

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