Bank Btpn In Indonesia Streamlines Trade Finance Processing Surecomp, a leading provider of global trade finance solutions, has announced that PT. Bank BTPN Tbk (BTPN), one of the leading privately-owned banks in Indonesia and part of the SMBC Group, has gone live with its DOKA solution. This solution is aimed at streamlining BTPN’s back-office trade finance processing automation, replacing the bank’s previous trade finance application. According to a recent report by the International Chamber of Commerce, Asia is the world’s largest region for trade finance, with a total of $1.98 trillion in trade finance issued in 2020. Indonesia is one of the key players in this region, with trade finance playing a crucial role in the country’s economic growth. The DOKA solution, which is hosted in Jakarta, has been fully deployed and supported by Surecomp’s local teams in Asia. Read more: https://ngulminthang.weebly.com/news/bank-btpn-in-indonesia-streamlines-trade-finance-processing #Surecomp #BTPNBank #tradefinance #Indonesiastreamlines #DOKAsolution #SupplyChain #NgulminthangLhanghal

Democratising The Trade Finance Process Through Digitalisation The World Trade Organisation (WTO) estimates that 80–90% of world trade relies on trade finance. It is a mechanism that not only ensures security between importers and exporters but can also extend a line of credit to companies desperately needing cashflow to get their operations moving. Pandemic disruptions, political upheaval and currency fluctuations have made companies more nervous to trade internationally. “With every crisis, trust among the participants goes down and that’s when you reconsider the risk that is involved in open account transactions,” says Enno-Burghard Weitzel, senior vice president of Strategy, Digitalisation and Business Development at Surecomp. “The more insecure these financial flows to physical supply chains are, the more you want to secure them with a guarantee” from trusted financial intermediaries. Unfortunately, trade finance has not always been a straightforward solution due to an excessively manual process, and a lack of access to smaller corporates who might not have the know-how to get the best deals. Read more: https://ngulminthanglhanghal.wordpress.com/2023/05/22/democratising-the-trade-finance-process-through-digitalisation/ #tradefinance #WorldTradeOrganisation #Digitalisation #Democratising #supplychains #Surecomp #NgulminthangLhanghal

How do specialised Trade Finance companies differ from Banks? Exporters are increasingly running into cash flow issues as payment cycles lengthen and more importers seek credit terms on payment. If your funds are held up, you won't be able to pay your vendors on time or stock up on materials for future orders. This could stifle expansion and potential, ultimately detrimental to your export business's success. Exporters often use bank loans to bridge this funding gap. However, bank lines are unsuitable for Trade Finance Service due to the following reasons: Collateralized: When you apply for a loan from a bank, they will want you to provide tangible collateral, such as a piece of property or some machinery. You won't be able to have access to bank lines if you don't have any collateral to put up. Limited: There is a direct correlation between the value of your fixed assets and the quantity of financing you may get from a bank. However, companies often have sales that are much beyond their fixed assets and need more capital to export their surplus through traditional banking channels. In addition, you'll need access to your locked-up working capital during peak seasons when you may be experiencing additional demand, but banks will only extend your facility. Read more: https://emeriobanque.medium.com/how-do-specialised-trade-finance-companies-differ-from-banks-69b096d48843 #InternationalTradefinance #financialinstitutions #LetterofCredit #BankGuarantee #TradeFinanceService

3 Common Types of Trade Finance Products Explained There are several definitions of trade finance available online, and the terminology employed is intriguing. It is characterised as a "science" and "an imprecise term covering a variety of different activities." Both are correct, as is the nature of these things. Managing the money required for international trade is a precise science. However, within this science, Trade Finance Service has access to a vast range of tools that affect how cash, credit, investments, and other assets can be used for trade. Common Types of Trade Finance Products: 1. Letter of Credit A letter of credit is a payment pledge provided by a bank on behalf of the importing client. It's a common trade finance document that you should be familiar with. Essentially, it is a commitment by the bank to pay the exporter the money within a specified time frame and under the terms and circumstances agreed upon. It enables sellers and buyers to mitigate some of the inherent hazards of international trade, including currency fluctuations, non-payment, and economic instability. 2. Purchase Order (PO) Finance Purchase Order (PO) financing is intended for SMEs that are experiencing inefficiency in their cash flow. To put it simply, it gives funds to pay suppliers with the validated purchase order in order to ensure seamless cash flow. It enables firms to accept a huge volume of orders while adjusting the lending basis to match their specific requirements. This is especially true for SMEs, who frequently get a significant amount of orders but lack the necessary working capital to process them. That is exactly what it does. Even if the volume of orders reduces, there are no ties, so you can quit using it whenever you want. Read more: https://www.emeriobanque.com/blogs/3-common-types-of-trade-finance-products-explained #Tradefinance #letterofcredit #BankGuarantee #supplychainfinance #SMEs #internationaltrade

Interoperability Between Digital Trade Finance Solutions On The Rise Trade is the engine of the global economy, but trade financing is complex and traditionally reliant on paper. One pain point for many financial institutions has been the lack of a network to support collaborative workflows within the trade ecosystem, and a lack of interoperability between solutions. Surecomp today (March 16) announced that it is partnering with Contour, one of the global digital trade finance networks, as part of a collaborative vision to drive the digital transformation of trade finance across financial institutions. Surecomp has over 35 years of expertise in digitising trade finance processes and its integration with Contour’s decentralised network of banks and corporates will provide users with a fully integrated end-to-end trade service solution. Through the collaboration with Surecomp’s trade finance platform RIVO, Contour’s member banks will be able to access digital Letter of Credit workflows directly on Surecomp’s back-office applications, providing straight-through automated processing, reducing costs, improving operational efficiency and optimising profitability. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/interoperability-between-digital-trade-finance-solutions-on-the-rise #digitaltradefinance #Surecomp #Contour #tradefinance #LetterofCredit #NgulminthangLhanghal

DiMuto and Aleta Planet Streamline B2B Payments and Trade Finance DiMuto and Aleta Planet have partnered to support digital B2B payments and trade finance. The collaboration brings together DiMuto’s global trade solutions platform and Aleta Planet’s B2B cross-border payment solutions to make payments in and out of China more efficient and transparent, the companies said in a Tuesday (Jan. 17) press release. “Our customers now enjoy greater flexibility and visibility with the addition of this payment gateway option to our Payment Management module,” DiMuto founder and CEO Gary Loh said in the release. “Strengthening our ability to track trade payments will greatly open up opportunities for financing of trades on our platform.” PYMNTS research has found that only 23% of small businesses are happy with their cross-border payment solutions. As a result, companies around the world are turning to multicurrency tools, targeted strategies and future-fit accounts payable (AP) and accounts receivable (AR) solutions to help accelerate and streamline their international growth, according to “International B2B Payments: A Guide for Entrepreneurs and Digital Businesses,” a PYMNTS and Payoneer collaboration. Solutions like those offered by DiMuto address the “black hole” that plagues cross-border payments, Loh told PYMNTS in an interview posted in August 2022. Read more: https://prnewsdistribution.co.uk/dimuto-and-aleta-planet-streamline-b2b-payments-and-trade-finance #B2bPayments #TradeFinance #Dimuto #AletaPlanet #DigitalPayments #NgulminthangLhanghal

With the debt of €5.2m Marco Polo Network Operations declared as insolvent! Marco Polo Network Operations is the Irish company and appointed administrators as per the declaration of court ruling that declared the company to be insolvent on 22nd Feb 2023. Marco Polo Network proposed to close the strategic deal of $12 million with Bank of America. The court heard that Marco Polo Network possesses a debt of €5.2 million and their current liabilities are more than €2.5 million. It is also claimed by Marco Polo Network that the significant investment for making a product to replace the internal account automation of Bank of America. It is a crucial step for investment in Bank of America, as heard by a court ruling. After the collapse of we.trade after 9 months, along with Serai, HSBC is also backing the trade platform which is blockchain-based, serious questions are also raised around commercial viability. Read more: https://www.emeriobanque.com/news/marco-polo-declared-insolvent-52m-debts #BankofAmerica #MarcoPolo #HSBC #investment #tradeplatform #internationaltradefinance #blockchaintechnology

Get Trade Finance Services As A Short Term Working Capital A type of financing known as trade finance is created especially to support transactions involving international trade. It gives companies that import and export products and services access to short-term working capital, assisting them in managing the risks involved in international trade. Short-term working cash can be obtained through a variety of trade finance services, including: 1. Letters of Credit: A letter of credit is a document that, under certain circumstances, a bank issues to a seller of products or services to guarantee payment. This can lessen the seller's risk of not getting paid and give them the working capital they require to complete the transaction. 2. Documentary Collections: A documentary collection is a payment strategy in which the buyer and seller trade documents and money through the help of banks. Given that the seller can get paid after presenting the required paperwork, this can be a helpful way to get short-term operating capital. 3. Invoice Financing: Getting short-term working cash through invoice financing entails using invoices as collateral. Businesses that have unpaid invoices that are approaching their due date but require cash sooner to meet their own financial responsibilities may find this to be a useful option. 4. Supply Chain Finance: Financing the complete supply chain, from raw materials to finished goods, is known as supply chain finance. Given that it offers financing throughout the entire production cycle, this can be a helpful way to acquire short-term working capital. In general, trade finance services can be a helpful way for companies involved in international trade to get short-term operating capital. Trade finance enables companies to manage their cash flow and lower the risks involved in cross-border transactions by giving them access to financing that is particularly suited for such transactions. Visit us: https://www.emeriobanque.com/trade-finance-services #TradeFinanceServices #FinanceServices #SupplyChainFinance #LettersofCredit #DocumentaryCollections

Wema Bank taps Kachasi Trade Finance to improve efficiency via automation Wema Bank has gone live on Kachasi Trade Finance Software to enable the achievement of full automation of trade finance operations. Trade finance is a phrase used to describe different strategies that are employed to make international trade easier. The market share is expected to increase by $12.20 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.38 percent. Kachasi, owned by Union Systems, is the first indigenous trade finance software application built to automate the entire lifecycle of international and domestic trade finance operations, and it is the result of over 20 years of experience implementing and customising various international trade finance software applications for banks across Africa. Wema Bank’s journey with the software began in March 2022. As a first of its kind, Kachasi Trade Finance Software comes with intuitive design and functionalities. “We are pleased to be joining the league of banks around the world that re using technology to transform trde finance operations,” Tajudeen Bakare, divisional Head of Operations and General Service, Wema Bank. “This project will significantly reduce turnaround time improve operational efficiency, and unlock new revenue streas for the bank. It will also improve the bank’s ability to respond quickly to regulatory policies and updates.” Read more: https://ngulminthanglhanghal.wordpress.com/2023/01/18/wema-bank-taps-kachasi-trade-finance-to-improve-efficiency-via-automation/ #finance #Africanfinancialinstitutions #Ngulminthang #tradefinance #WemaBank

African Development Bank Partners with Bank One on Trade Finance The African Development Bank Group is supporting the trade finance efforts of Bank One Limited. The Group will provide a $40 million trade finance package that is meant to help Bank One of Mauritius increase its capacity to provide trade finance to small to medium-sized businesses (SMBs), local corporates and other key sectors in Mauritius and across Africa, the African Development Bank said in a Thursday (Dec. 22) press release. The package includes a $25 million risk participation agreement and a $15 million transaction guarantee, the release said. “Given the cross-sectoral nature of trade, the proposed facility, while leveraging Bank One’s footprint, is expected to enhance the African Development Bank’s efforts to integrate Africa and improve the quality of life for the African people,” African Development Bank Head of Trade Finance Lamin Drammeh said in the release. Africa has an annual “trade finance gap” of $81 billion because SMBs and other domestic firms have greater difficulty accessing trade finance than do multinationals and large local corporates, according to the press release. The African Development Bank aims to reduce that gap by deploying the new transaction guarantee and risk participation agreement with Bank One, which is a leading Mauritian and regional banking for with reach that extends across the continent and globally, the release said. Read more: https://prnewsdistribution.co.uk/african-development-bank-partners-with-bank-one-on-trade-finance #AfricanDevelopmentBank #B2bPayments #CrossborderPayments #DigitalPayments #Smes #TradeFinance #NgulminthangLhanghal