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Trade Finance Poised for Digital Revolution Though Obstacles Remain

Fintech News

The trade finance industry has been aspiring for greater digitalisation, striving to tap into potential benefits such as improved transparency, efficiency, risk mitigation and support for small and medium-sized enterprises (SMEs).

Finance 128
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Augmenting Trust With Technology In Global Trade Finance

PYMNTS

Even as businesses move away from physical paper, their reliance on email to transmit information between trading partners and players in the ecosystem exposes the trade finance arena to the growing risk of cyberattacks. “Traditionally, financiers had to take various methods to try and mitigate fraud,” Tarone noted.

Finance 53
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Blockchain Makes It Out Of Piloting — Now What?

PYMNTS

The blockchain hype-machine is driven largely from the technology’s proponents that say they have an application of the tool for everything: payments, risk mitigation, contracts, KYC (Know Your Customer) compliance, financing, cloud storage, an alternative to foreign exchange, credit underwriting.

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Trade Finance: Challenges and the Role of Emerging Technology

Fintech Review

Trade finance plays a crucial role in facilitating global trade by providing credit, payment guarantees, and risk mitigation tools. These financial instruments help importers and exporters manage cash flow effectively while reducing the risks associated with cross-border transactions.

Finance 85
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Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation

The Payments Association

Everything is becoming fasterthe technology is out there, said Khorsan. While digital infrastructure is advancing, including cloud-native solutions and distributed ledger technologies (DLT), legal frameworks are still rooted in outdated assumptions, creating friction in what should be frictionless systems.