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  • ANEXT Bank’s Soft Launch Drives Fintech For SMEs

    As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters.

    Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ”

    “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added.

    Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes

    #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
    ANEXT Bank’s Soft Launch Drives Fintech For SMEs As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters. Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ” “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added. Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
    WWW.EMERIOBANQUE.COM
    ANEXT Bank’s Soft Launch Drives Fintech For SMEs
    Anext bank announces its soft launch as Singapore's newest digital wholesale bank to accelerate digital financial services to local and regional MSMEs. Know more.
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  • Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade

    “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.”

    Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy.

    International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms.

    Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade

    #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.” Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy. International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms. Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    WWW.EMERIOBANQUE.COM
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade
    Contour's digital Letter of Credit works on a decentralized network based on DLT (Digital Ledger Technology) to streamline & smooth trade finance operations. Know more.
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  • Contour Partners With TradeLens To Digitally Transform Trade Finance Workflows

    As per the latest news, Contour, a global digital trade finance network has reported its partnership with TradeLens, a blockchain-based supply chain platform focused on delivering a secure, safe & transparent transfer of electronic Bills of Lading (eBL).

    This aforesaid Contour-TradeLens Partnership seems critical for the ecosystem as it consolidates direct access to significant ocean carriers with a structured trade finance network. No arrangement could provide a phenomenal solution like these kinds of partnerships where the corporates and banks can synchronize their trade finance services with the physical shipment and enjoy an interoperable, end-to-end paperless transaction.

    The demand for these kinds of digital trade solutions has reached its peak and the biggest reason is the sudden outbreak of the global pandemic that exposed the vulnerability of global supply chains and highlighted liquidity requirements on SMEs. In international trade, a Bill of Lading is a critical document that shows that the shipment has been performed, and the banks are required to fund goods that are still in transit (by waterways). These digitally-transformed eBills will simplify and structure the entire trade finance process.

    Read more: https://www.emeriobanque.com/news/contour-partners-with-tradelens-to-digitally-transform-trade-finance-workflows

    #globaldigitaltradefinance #tradefinanceservices #SMEs #globalsupplychains #TradeLens #Contour #internationaltrade
    Contour Partners With TradeLens To Digitally Transform Trade Finance Workflows As per the latest news, Contour, a global digital trade finance network has reported its partnership with TradeLens, a blockchain-based supply chain platform focused on delivering a secure, safe & transparent transfer of electronic Bills of Lading (eBL). This aforesaid Contour-TradeLens Partnership seems critical for the ecosystem as it consolidates direct access to significant ocean carriers with a structured trade finance network. No arrangement could provide a phenomenal solution like these kinds of partnerships where the corporates and banks can synchronize their trade finance services with the physical shipment and enjoy an interoperable, end-to-end paperless transaction. The demand for these kinds of digital trade solutions has reached its peak and the biggest reason is the sudden outbreak of the global pandemic that exposed the vulnerability of global supply chains and highlighted liquidity requirements on SMEs. In international trade, a Bill of Lading is a critical document that shows that the shipment has been performed, and the banks are required to fund goods that are still in transit (by waterways). These digitally-transformed eBills will simplify and structure the entire trade finance process. Read more: https://www.emeriobanque.com/news/contour-partners-with-tradelens-to-digitally-transform-trade-finance-workflows #globaldigitaltradefinance #tradefinanceservices #SMEs #globalsupplychains #TradeLens #Contour #internationaltrade
    WWW.EMERIOBANQUE.COM
    Contour Partners With TradeLens To Digitally Transform Trade Finance Workflows
    Contour partners with TradeLens to further digitize international trade finance procedures with digitized e-Bills of Lading and end-to-end paperless transactions.
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  • Struggling With Late Payments From Buyers Abroad? Here’s How To Deal With It

    Running an international trade is a tough nut to crack especially for exporters as they are surrounded by a plethora of risks associated with overseas trade. On one hand, they need to take care of managing an efficient working capital to ensure fund availability to further finish the manufacturing process. While on the other hand, they don’t know whether they would get paid on time from their buyers abroad or not. This is one of the biggest risks exporters face carrying out an international transaction.

    Why Can Payments Be Delayed?

    There can be many reasons why a payment may be late on the buyer's hand in international trade. The answer can be a buyer’s incapability to pay the exporter due to many reasons such as:

    1. They lack enough liquid money to pay the invoice
    2. Bankruptcy
    3. Dispute with the exporter over shipped items
    4. Difficulty in selling the goods further etc.

    Ways To Cope-Up With Late Payments From Foreign Buyers

    You may be thinking, “It seems kind of difficult to avoid late payments in global trade seeing the above-mentioned reasons.” The buyer can be unpredictable at any time and the exporter's concern about being paid late is genuine. So, what can be done to eliminate this trade complexity? We have got the answer.

    This is where the exporters need to be aware of common export payment methods before agreeing with a foreign buyer. Picking the correct one and using them efficiently can decrease delayed payments to a certain level.

    Read more: https://axioscreditbank.wordpress.com/2022/05/04/struggling-with-late-payments-from-buyers-abroad-heres-how-to-deal-with-it/

    #internationaltrade #exportfinancing #exporttradefinanceservice #importtradefinanceservice #importfinancing #tradefinanceinstrument
    Struggling With Late Payments From Buyers Abroad? Here’s How To Deal With It Running an international trade is a tough nut to crack especially for exporters as they are surrounded by a plethora of risks associated with overseas trade. On one hand, they need to take care of managing an efficient working capital to ensure fund availability to further finish the manufacturing process. While on the other hand, they don’t know whether they would get paid on time from their buyers abroad or not. This is one of the biggest risks exporters face carrying out an international transaction. Why Can Payments Be Delayed? There can be many reasons why a payment may be late on the buyer's hand in international trade. The answer can be a buyer’s incapability to pay the exporter due to many reasons such as: 1. They lack enough liquid money to pay the invoice 2. Bankruptcy 3. Dispute with the exporter over shipped items 4. Difficulty in selling the goods further etc. Ways To Cope-Up With Late Payments From Foreign Buyers You may be thinking, “It seems kind of difficult to avoid late payments in global trade seeing the above-mentioned reasons.” The buyer can be unpredictable at any time and the exporter's concern about being paid late is genuine. So, what can be done to eliminate this trade complexity? We have got the answer. This is where the exporters need to be aware of common export payment methods before agreeing with a foreign buyer. Picking the correct one and using them efficiently can decrease delayed payments to a certain level. Read more: https://axioscreditbank.wordpress.com/2022/05/04/struggling-with-late-payments-from-buyers-abroad-heres-how-to-deal-with-it/ #internationaltrade #exportfinancing #exporttradefinanceservice #importtradefinanceservice #importfinancing #tradefinanceinstrument
    AXIOSCREDITBANK.WORDPRESS.COM
    Struggling With Late Payments From Buyers Abroad? Here’s How To Deal With It
    There can be many reasons behind a delayed payment to the exporters from their buyers abroad but choosing the right type of import-export financing can help. Know now.
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  • Wema Bank selects Union Systems for their International Trade Finance Automation

    Union Systems Limited, Africa’s leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations. The bank selected Union Systems’ Kachasi trade finance software over all other international trade finance software solutions due to its ability to address both the traditional international trade finance processes and the peculiar Nigerian trade finance operations. The selection of Kachasi demonstrates Union Systems‘ leadership, experience, and excellence in the provision of trade finance software solutions.

    Wema Bank, the pioneer of Africa’s first fully digital bank, is no stranger to being at the forefront of introducing innovative digital solutions to its customers. Through this collaboration, the bank will join the league of banks around the world that are using technology to change the way trade financing works. This trade finance automation project will significantly reduce trade finance processing turnaround time, improve operational efficiency, and unlock new revenue streams for the bank. It will also improve the bank’s ability to respond quickly to regulatory policies and updates.

    Kachasi is the first indigenous trade finance software application built to automate the entire lifecycle of international and domestic trade finance operations. Union Systems brings to this partnership over 20 years of successful development and implementation of trade finance solutions across Africa. This is a significant milestone for the company and proves its expertise in the design and development of trade finance software products.

    Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/wema-bank-selects-union-systems-for-their-international-trade-finance-automation

    #TradeFinance #WemaBank #UnionSystems #InternationalTradeFinanceAutomation #Ngulminthang #NgulminthangLhanghal
    Wema Bank selects Union Systems for their International Trade Finance Automation Union Systems Limited, Africa’s leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations. The bank selected Union Systems’ Kachasi trade finance software over all other international trade finance software solutions due to its ability to address both the traditional international trade finance processes and the peculiar Nigerian trade finance operations. The selection of Kachasi demonstrates Union Systems‘ leadership, experience, and excellence in the provision of trade finance software solutions. Wema Bank, the pioneer of Africa’s first fully digital bank, is no stranger to being at the forefront of introducing innovative digital solutions to its customers. Through this collaboration, the bank will join the league of banks around the world that are using technology to change the way trade financing works. This trade finance automation project will significantly reduce trade finance processing turnaround time, improve operational efficiency, and unlock new revenue streams for the bank. It will also improve the bank’s ability to respond quickly to regulatory policies and updates. Kachasi is the first indigenous trade finance software application built to automate the entire lifecycle of international and domestic trade finance operations. Union Systems brings to this partnership over 20 years of successful development and implementation of trade finance solutions across Africa. This is a significant milestone for the company and proves its expertise in the design and development of trade finance software products. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/wema-bank-selects-union-systems-for-their-international-trade-finance-automation #TradeFinance #WemaBank #UnionSystems #InternationalTradeFinanceAutomation #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.MYSTRIKINGLY.COM
    Wema Bank selects Union Systems for their International Trade Finance Automation
    Union Systems Limited, Africa's leading trade finance company, partners with Wema Bank Plc to automate its trade finance operations.
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  • Tracing The Largest Global Trading Partners From 1960 to 2020

    Despite the various hurdles presented by inflated shipping costs and supply chain problems, the global trade market increased an astounding 23% in 2021 compared to the last year. Now estimated at $28 trillion, there are several global trading partners. And the biggest partner among them is China.

    But that was not always the case. Before China landed the top spot, there was another name at the place for the most significant global trading partner - the United States. So how did China overtake the superpower? Let’s find out.

    The story started in the 1960s when the US witnessed a post-war economic boom. They saw a rising middle class that brought about good economic growth. As a result, there was high demand for luxury goods, allowing various industries to start production.

    At the same time, Europe too was going through some changes. Although Britain was the leading trading partner here, the countries were trying to band together to bring power and harmony. Around this time, the EFTA, or the European Free Trade Association too, was created to facilitate free trade agreements between several European countries.

    Read more: https://www.emeriobanque.com/news/tracing-the-largest-global-trading-partners-from-1960-to-2020

    #globaltrade#economy #finance #GlobalTradingPartners #EFTA #internationaltrade
    Tracing The Largest Global Trading Partners From 1960 to 2020 Despite the various hurdles presented by inflated shipping costs and supply chain problems, the global trade market increased an astounding 23% in 2021 compared to the last year. Now estimated at $28 trillion, there are several global trading partners. And the biggest partner among them is China. But that was not always the case. Before China landed the top spot, there was another name at the place for the most significant global trading partner - the United States. So how did China overtake the superpower? Let’s find out. The story started in the 1960s when the US witnessed a post-war economic boom. They saw a rising middle class that brought about good economic growth. As a result, there was high demand for luxury goods, allowing various industries to start production. At the same time, Europe too was going through some changes. Although Britain was the leading trading partner here, the countries were trying to band together to bring power and harmony. Around this time, the EFTA, or the European Free Trade Association too, was created to facilitate free trade agreements between several European countries. Read more: https://www.emeriobanque.com/news/tracing-the-largest-global-trading-partners-from-1960-to-2020 #globaltrade#economy #finance #GlobalTradingPartners #EFTA #internationaltrade
    WWW.EMERIOBANQUE.COM
    Tracing The Largest Global Trading Partners From 1960 to 2020
    Taking a stroll down memory lane, let’s trace the first major global trading partner, their journey, and how another powerful opponent replaced them.
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