News

The still on-going COVID pandemic, labor shortages and rising fuel costs, have all resulted in unprecedented challenges for MSMEs in obtaining financing and market access to the trade finance market. Currently, 55% of the annual global trade volume is concentrated in APAC. How can MSMEs in APAC harness modern digital technologies to better improve supply chain efficiency and the transparency to facilitate trade and trade finance?

Global traders and lenders are facing many challenges today! Challenges such as inefficient data organization creates data silos and a fragmented data environment, with no single point of reference for trade-related data. KRATOS, our blockchain-enabled platform generates and maintains independently verifiable transaction data, thus establishing a single source of truth.

Digitalisation of trade finance can improve, enhance, and expand SMEs'abilities to engage in international trading activities, and global value chains, fostering an inclusive economic growth.

The Electronic Trade Documents Bill being proposed in the UK is a significant development for the international trade finance industry. Small and medium sized businesses stand to benefit from streamlining and the automation of trade documents and cross-border processes more than their larger counterparts.

The evolution of Trade Finance was accelerated by COVID-19 and is poised to continue beyond the pandemic. Read about the 3 key trends that will further strengthen the trading ecosystem around the world.

Cost efficiencies, shrinking margins and opportunities to enhance client experience are important reasons for the digital evolution of trade finance which currently still relies heavily on paper and manual processes.

The recent war in Ukraine has significantly complicated the export trading market for Ukrainian soft commodities, disrupting the trades of several commodities, thus, exacerbating liquidity shortages in the commodities markets.

The international trade sector remains plagued by labor-and paper-intensive processes. The advancements and adoption of distributed ledger technology (DLT) will facilitate and make trade more efficient.

ICC is calling on governments to create a modern digital trade ecosystem by reforming laws to digitize trade documentation and align legal frameworks.