#Ngulminthang Lhanghal
Text
Absa CIB is positioning itself at the forefront of digital developments by being a part of Contour’s digital trade finance network. Many of Africa’s trade transactions are manual and paper-based, which slows down trade growth and creates another layer of complexity and costs.
Absa CIB’s clients will now have access to Contour’s digital Letter of Credit (LC), which reduces the process of presenting documents from an average of 5-10 days to under 24 hours.
Digital developments are a big part of addressing challenges and creating access to new markets. In Africa, digitisation is critical to the success of the African Continental Free Trade Area (AfCFTA), a flagship project that aims to boost intraAfrica trade by 52.3 percent and expand the size of the continent’s economy to US$29 trillion by 2050.
Read more: https://ngulminthanglhanghal.wordpress.com/2023/08/16/absa-cib-joins-contour-trade-finance-network/
0 notes
Text
HSBC has partnered with Dowsure Technologies, a China-based cross-border e-commerce API platform, to facilitate the flow of trade finance to online suppliers by leveraging transaction data instead of collateral or financial documents.
Launched in 2016, Shenzhen-based Dowsure – an Amazon Seller Lending Programme partner – has built a proprietary assessment model for online marketplace store owners that uses information such as inventory, sales and refund records. By connecting this data to financial institutions, Dowsure enables cross-border merchants to access credit that they might otherwise struggle to obtain.
Under the terms of the partnership, Dowsure will provide a streamlined credit assessment process for Amazon merchants seeking to apply for trade finance from HSBC. In addition, the bank’s venture capital arm, HSBC Ventures, has made a strategic investment into the company. The size of the investment was not disclosed.
Read more: https://www.pressreleasepoint.com/hsbc-continues-push-e-commerce-trade-finance-dowsure-tie
0 notes
Link
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
0 notes
Link
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/
#trade finance#World Trade Organisation#Digitalisation#Democratising#supply chains#Ngulminthang Lhanghal
0 notes
Link
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
0 notes
Link
Thought Machine, the UK-headquartered technology unicorn has been selected by Bpifrance, the French public investment bank, to use its cloud-native core banking platform. Bpifrance will be using Thought Machine’s Vault Core platform to power its digital transformation strategy.
Thought Machine claims that Vault Core’s Universal Product Engine allows Bpifrance to build, test, and launch new products faster than other core systems. Its first product on Vault Core, a two-year commercial loan, is already live.
The cloud-native design of Vault Core ensures Bpifrance can scale at pace, both in terms of product offerings and customer numbers. It will also be able to configure and personalise financial products to match customers’ specific needs.
Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/bpifrance-selects-thought-machine-to-power-finance-offerings-to-smes
0 notes
Link
Vayana TradeXchange, the International Trade Financing Services (ITFS) platform facilitating cross-border trade finance under the supervision of the International Financial Services Centre Authority, GIFT City, announced the completion and disbursement of its first set of export financing transactions.
Vayana TradeXchange (VTX) is built and operated by Vayana Pvt Ltd, a 100% subsidiary of Vayana Network, the largest Supply Chain Finance platform in India.
The first set of transactions on VTX have been financed by VoloFin, a global FinTech company offering invoice and supply chain finance solutions to SME businesses. The first cross-border transaction between an Indian Exporter and the USA Buyer was successfully financed on VTX by VoloFin.
VTX, the auction-based electronic platform will facilitate the financing of international trade flows by introducing various trade financing products at competitive terms. This will help exporters and importers in India and across the globe to convert their receivables into cash or obtain financing for payments of imports of goods & services.
Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/vayana-tradexchange-initiates-its-first-transaction-in-partnership-with-volofin
0 notes
Link
As per the latest news, the Board of Directors of the African Development Bank Group has supported a Risk Participation Agreement of $50 million with Crédit Agricole Corporate and Investment Bank.
This arrangement will help African Banks and their small and medium-sized enterprise (SME) customers to compete in more extended regional and international trade. It is focused on enabling a cumulative trade transaction volume of $450 million over the next three years.
“This agreement boosts certainty among various African leaders to support a new trade dynamic on the continent,” explained Mohamed El Azizi, the African Development Bank’s Director General for North Africa. He added, “And this is important for the realization of the African Continental Free Trade Area, which will aid in bringing resilience, attract growth and boost a recovery that sets out opportunities and jobs.”
Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/adb-accepts-risk-participation-agreement-with-credit-agricole-cib
#African Development Bank#African Banks#Crédit Agricole CIB#trade finance#African SMEs#Ngulminthang Lhanghal#Ngulminthang
0 notes
Link
As per the latest report, the global trade management market size is expected to demonstrate a shift to USD 1.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% from 2021 to 2026. The major factors which are gearing up the trade management market include a surged volume of international trade, rising trend of digitization, legal guidelines, and compliances, to fuel the development of the trade management market worldwide during the forecast period.
Services To Develop At A Higher CAGR During The Forecast Period
Trade management services are essential to ensure the appropriate incorporation of trade management solutions with the complex network infrastructure established in an organization. Trade management services make sure that various trade solutions execute smoothly over a period by closely monitoring, maintaining, and improving the vital aspects of trade management solutions. It also boosts the international supply chain by automating and organizing trade processes, managing control costs, decreasing the probabilities of penalties and fines, and clearing customs quicker. The determining services for this report include counseling, execution and integration and support as well as maintenance.
Read more: https://ngulminthang.weebly.com/news/global-trade-management-market-report-2022
#Global Trade Management#international trade#Digitalization & Increasing#supply chain#Ngulminthang Lhanghal
0 notes
Link
Banking Circle is adopting USD Coin (USDC), while farming loan platform Tillable is growing its lending program. Plus, decentralized finance (DeFi) lender Teller is launching a buy now, pay later (BNPL) initiative for purchasing non-fungible tokens (NFTs).
Banking Circle to Adopt USD Coin
European payments bank Banking Circle is adopting USDC on its platform as a payment acceptance, processing and settlement method. Banking Circle will act as a bridge between fiat bank accounts and stablecoins as the company moves toward its Web3 plans.
Tillable Teams with Evergreen Bank to Expand Digital Farm Loans
Farmland resource and loan platform Tillable is partnering with Evergreen Bank to expand its digital lending program. Tillable provides farmland mortgages, refinances, operating loans and rental financing, and it is striving to make owning and renting America’s farmland easy and sustainable.
Teller Brings BNPL to NFT Market With ‘Ape Now, Pay Later’ Loans
DeFi lender Teller is rolling out a BNPL feature so buyers NFTs can spread payments across installments. Bored Ape Yacht Club, Doodles, Meebits, Cool Cats and other NFT collections are included in Teller’s Ape Now, Pay Later initiative.
Read more: https://ngulminthanglhanghal.wordpress.com/2022/07/11/banking-circle-to-add-usdc-tillable-expands-farm-loans/
0 notes
Link
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://greatarticles.co.uk/gst-as-a-credit-risk-assessment-tool-will-help-reduce-npas-for-smes/
#credit risk assessment tool#financial institutions#Cygnet FinTech#Ngulminthang Lhanghal#Grow trade finance
0 notes
Link
According to the latest news, DP World, a leading international logistics company and advanced supply chain solutions provider reported an association between CARGOES Finance by DP World and Challenger Management Limited, to help customers get working capital solutions from the international finance fund.
CARGOES Finance by DP World is a fintech platform that brings global importers, exporters, and logistic companies to a single platform that requires getting finance from around the world with financial institutions. CARGOES Finance also delivers lenders access to data on cargo movements, empowering them to finance with peace of mind.
Under the partnership, CARGOES Finance will be delivering digital instruments to Challenger Management to further accelerate paper-heavy processes, KYC (Know Your Customer) and anti-money laundering information on customers, and confidential trade data throughout the supply chain and other risk mitigant highlights on the platform.
Read more: https://ngulminthang.weebly.com/news/challenger-management-joins-hands-with-dp-world-to-finance-trade
0 notes
Link
Bengaluru (Karnataka) [India], June 3 (ANI/NewsVoir): Continuing its efforts to empower businesses with fast digital and affordable access to liquidity, KredX, India's largest supply chain finance platform, today announced its collaboration with Tradewind Finance, a global financial solutions company to corroborate enhanced export and supply chain financing solutions for business corporates. This collaboration will focus on providing financing to KredX's customers for their international business, exports and imports, at competitive rates by leveraging KredX's platform and financing capabilities of both the companies.
In November 2021, KredX received an "In-principle" approval by IFSCA to offer a platform for Indian companies to transact and raise financing for their exports and imports. This allows KredX to extend its expertise in offering a world-class transaction platform and offer financing solutions to its existing customer base as it continues to add new ones. Collaboration with Tradewind, amongst more such collaborations in the offing will allow KredX to offer a transparent, competitive, reliable funding option to Indian corporates for their international business. Under this new arrangement, KredX will support the domestic financing needs of Tradewinds customers in India and it will provide Tradewind with firmographics and business intelligence with respect to the Indian market that will strengthen the German and Indian lenders' association with exporters in India.
Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/kredx-collaborates-with-tradewind-finance-to-deliver-comprehensive-export-and-supply-chain-financing
#supply chain finance#international trade finance solutions#Tradewind Finance#IFSCA#Ngulminthang Lhanghal
0 notes
Link
A Singapore senior minister says the city-state’s financial regulator does not plan to inject liquidity into the commodity finance market, insisting access to finance from the banking sector remains robust.
Tharman Shanmugaratnam, a senior government minister in charge of the Monetary Authority of Singapore (MAS), said this week that demand for working capital has increased among commodity traders due to higher margin requirements.
As a result, traders “have had to use derivatives more widely to hedge their exposures against price volatility”, he said in response to a parliamentary question on risks to the financial sector. “Firms which do not manage their risks well may run into difficulty in servicing their loans.”
In addition, virus containment measures introduced in China are expected to disrupt production and supply chains, causing “spillover effects” on the city-state’s trading activity, Shanmugaratnam said.
The total exposure to commodity finance transactions among Singapore’s banks totalled S$109bn (US$79bn) at the end of last year, equivalent to around 9% of their overall credit exposure, he added.
Read more: https://ngulminthanglhanghal.wordpress.com/2022/05/12/singapore-authorities-say-commodity-finance-stable-amid-growing-market-concerns/
#Allianz Trade#Commodity Finance#Financial Stability Board (FSB)#Hin Leong#Monetary Authority of Singapore (MAS)#Ngulminthang Lhanghal
0 notes
Text
Eezyimport Partners With Drip Capital, Streamlines Access To Simplified Trade Financing
Eezyimport, a leading global import management platform, has announced a partnership with Drip Capital, a global fintech company, to provide integrated, streamlined trade finance solutions for U.S. importers. This collaboration will enable small and medium-sized businesses (SMBs) to quickly access collateral-free trade financing online while simplifying import processes and reducing documentation.
Eezyimport's innovative self-service platform provides a seamless experience for U.S. importers, helping them navigate the complexities of global trade. With its user-friendly interface, Eezyimport allows businesses to manage their import process, from initial order placement to shipment tracking, customs clearance, and now trade financing in collaboration with Drip Capital.
Drip Capital provides working capital solutions to SMBs globally. In the US, the company offers payables financing, which gives buyers additional time to pay for all their purchases with minimal documentation and no collateral. The financing platform has developed a data-driven risk assessment model to underwrite transactions and disburse funds within 24 hours.
The Eezyimport - Drip partnership will immensely benefit businesses seeking import management solutions and trade financing services.
Read more: https://www.forpressrelease.com/forpressrelease/618849/4/eezyimport-partners-with-drip-capital-streamlines-access-to-simplified-trade-financing
#Eezyimport#Drip Capital#trade financing#importers#trade finance#digital solutions#Ngulminthang Lhanghal
0 notes
Text
Kenya announces an end to G2G oil supply deal
In an attempt to halt the fast slide of the Kenyan Shilling versus international currencies, Kenya's president William Ruto announced this spring the G2G oil supply agreement between Kenya and three major oil suppliers from the Gulf.
The Treasury stated in an International Monetary Fund (IMF) report that the plan has not been as successful as anticipated.
"The government intends to exit the oil import arrangement, as we are cognizant of the distortions it has created in the FX market, the accompanying increase in rollover risk of the private sector financing facilities supporting it and remain committed to private market solutions in the energy market," according to a quote from the Treasury.
The deal marked a switch from an open tender system in which local companies bid to import oil each month.
It was initially for 9 months but was extended for another 12 months to December 2024, after which date it will now be withdrawn.
Since the scheme's launch the shilling has depreciated by over 20 percent against the US dollar, surpassing the historical low mark of 160 to the dollar.Stay Updated: https://www.quora.com/profile/Ngulminthang-Lhanghal-1
0 notes
Last Seen Blogs
prettyboyrenjun
sh☆rt skirts and fishnets
tomsonnylove
Sonny Corleone x Tom Hagen Central
vremus
:3
askthespidergwen
Another Spider
hellchicken
HellChicken