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  • 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
    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
    EMERIOBANQUE.MEDIUM.COM
    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…
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  • 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
    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
    NGULMINTHANGLHANGHAL.WORDPRESS.COM
    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.
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  • ADB Signs Supply Chain Finance Deal With Bank of Georgia

    The latest news says the Asian Development Bank (ADB) has signed a supply chain finance deal with the Bank of Georgia to share around 50% of its risks related to supply chain finance transactions with the main purpose of strengthening financing and reducing supply chain management risks for SMEs.

    As per ADB, this is the very first time it has signed such a type of arrangement, which will bring two institutions together to determine a risk-sharing program for avoiding the risks of corporate non-payment in supply chain finance transactions.

    Steven Beck, head of the ADB’s trade and supply chain finance program (TSCFP) stated, “This deal expands our trade finance partnership with the Bank of Georgia that started in 2011 and will be stimulant in growing supply chain finance in the area.”

    Read more: https://www.axioscreditbank.com/blogs/adb-signs-supply-chain-finance-deal-with-bank-of-georgia

    #supplychainfinancetransactions #supplychainmanagement #AsianDevelopmentBank #supplychainfinance #financialinstitutions
    ADB Signs Supply Chain Finance Deal With Bank of Georgia The latest news says the Asian Development Bank (ADB) has signed a supply chain finance deal with the Bank of Georgia to share around 50% of its risks related to supply chain finance transactions with the main purpose of strengthening financing and reducing supply chain management risks for SMEs. As per ADB, this is the very first time it has signed such a type of arrangement, which will bring two institutions together to determine a risk-sharing program for avoiding the risks of corporate non-payment in supply chain finance transactions. Steven Beck, head of the ADB’s trade and supply chain finance program (TSCFP) stated, “This deal expands our trade finance partnership with the Bank of Georgia that started in 2011 and will be stimulant in growing supply chain finance in the area.” Read more: https://www.axioscreditbank.com/blogs/adb-signs-supply-chain-finance-deal-with-bank-of-georgia #supplychainfinancetransactions #supplychainmanagement #AsianDevelopmentBank #supplychainfinance #financialinstitutions
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  • GST as a credit risk assessment tool will help reduce NPAs for SMEs

    SMEs and MSMEs are the major growth engines of economies that rely on banks and financial institutions to help with their funding needs. Banks and financial institutions need solutions to help them navigate through multiple challenges of minimizing lending risks, securing data, streamlining credit operations, and safeguarding their profitability Mumbai: Inclusion of GST data as a parameter for credit risk assessment will help reduce NPAs for banks and financial institutions in SMEs and MSMEs lending. Talking to Bizz Buzz, Niraj Hutheesing, Founder and Managing Director of Cygnet Infotech, says:

    “All evaluations related to credit risk assessment and lending processes for SMEs/MSMEs now should also have indirect tax (GST data) as a parameter. This data allows lenders to monitor the credit worthiness for loan performance as an early warning, this will tremendously decrease the number of NPAs in the market.”

    As a differentiator Cygnet FinTech works on the data cash flow-based model that help lending institutions build a customer-centric model for credit underwriting. Since e-invoice is a mandate now, the invoice discounting/trade financing can be validated too. Banks want to focus on customers/prospects that are new to the space to generate more credit opportunities and give impetus to lending, and hence are collaborating more with fintech companies. Such fintech companies like Cygnet Fintech will enable these banks get consent-based data points from multiple data sources like ITR, MCA, GST, bank statements and more for analysing and making informed credit decisions, he said.

    Read more: https://articlesmaker.com/gst-as-a-credit-risk-assessment-tool-will-help-reduce-npas-for-smes/

    #SMEs #GST #creditriskassessmenttool #financialinstitutions #NPAs #CygnetFinTech #tradefinancing #NgulminthangLhanghal #Growtradefinance
    GST as a credit risk assessment tool will help reduce NPAs for SMEs SMEs and MSMEs are the major growth engines of economies that rely on banks and financial institutions to help with their funding needs. Banks and financial institutions need solutions to help them navigate through multiple challenges of minimizing lending risks, securing data, streamlining credit operations, and safeguarding their profitability Mumbai: Inclusion of GST data as a parameter for credit risk assessment will help reduce NPAs for banks and financial institutions in SMEs and MSMEs lending. Talking to Bizz Buzz, Niraj Hutheesing, Founder and Managing Director of Cygnet Infotech, says: “All evaluations related to credit risk assessment and lending processes for SMEs/MSMEs now should also have indirect tax (GST data) as a parameter. This data allows lenders to monitor the credit worthiness for loan performance as an early warning, this will tremendously decrease the number of NPAs in the market.” As a differentiator Cygnet FinTech works on the data cash flow-based model that help lending institutions build a customer-centric model for credit underwriting. Since e-invoice is a mandate now, the invoice discounting/trade financing can be validated too. Banks want to focus on customers/prospects that are new to the space to generate more credit opportunities and give impetus to lending, and hence are collaborating more with fintech companies. Such fintech companies like Cygnet Fintech will enable these banks get consent-based data points from multiple data sources like ITR, MCA, GST, bank statements and more for analysing and making informed credit decisions, he said. Read more: https://articlesmaker.com/gst-as-a-credit-risk-assessment-tool-will-help-reduce-npas-for-smes/ #SMEs #GST #creditriskassessmenttool #financialinstitutions #NPAs #CygnetFinTech #tradefinancing #NgulminthangLhanghal #Growtradefinance
    ARTICLESMAKER.COM
    GST as a credit risk assessment tool will help reduce NPAs for SMEs | Articles Maker
    SMEs and MSMEs are the major growth engines of economies that rely on banks and financial institutions to help with their funding needs. Banks and financial institutions need solutions to help them navigate through multiple challenges of minimizing lending risks, securing data, streamlining credit operations, and safeguarding their profitability Mumbai: Inclusion of GST data as […]
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  • Surecomp Debuts Duplicate Financing Fraud Prevention

    Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release.

    The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says.

    “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release.

    “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said.

    Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information.

    It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release.

    Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention

    #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    Surecomp Debuts Duplicate Financing Fraud Prevention Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release. The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says. “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release. “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said. Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information. It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release. Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANG.WEEBLY.COM
    Surecomp Debuts Duplicate Financing Fraud Prevention
    Surecomp is launching a new offering that uses advanced cryptographic technology to help financial institutions to lessen the risk of duplicate financing fraud.
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