Latin American banks pioneering digitalisation of trade finance

By Olivier Paul, Head of Policy at the Banking Commission Paperless trade is the future of trade finance. At least that is one of the key takeaways from the ICC’s 10th Global Survey on Trade Finance, with results indicating that over 60% of respondents are moving towards further digitalisation of their trade finance offerings. Encouragingly, the survey, which gathered thoughts from 251 banks in 91 countries, included its highest participation rate from Latin American banks. Some 12% of participants are based in the region, up from only 8% participation in the previous year’s report. Results from the region were particularly compelling, with a clear focus on the development of digital trade and emerging technologies, despite the new challenges this transformation […]