Trade Finance
IFC, DBS Address Trade Finance Gap with US$500 Million Programme
The International Finance Corporation (IFC) and DBS Bank have unveiled a US$500 million financial initiative aimed at enhancing trade in emerging markets. This collaborative effort is part of IFC’s Global Trade Liquidity Programme (GTLP) and seeks to increase capital and
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Contour Gets Lifeline Through Acquisition by Singaporean Fintech Xalts
Xalts, a Singaporean fintech firm supported by Accel and Citi Ventures, has acquired blockchain- based digital trade finance platform Contour Network previously owned by a consortium of leading global banks. Carl Wegner, the former CEO of Contour, is expected to
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Trade Finance Poised for Digital Revolution Though Obstacles Remain
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). But despite some progress, advancements have been slow for
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Finastra and ELCY to Offer Unified Trade Finance Solution for Corporates
Finastra, a global provider of financial software, and ELCY, a specialist in e-commerce solutions for trade finance, have partnered to offer a trade finance solution for corporates. The Corporate Trade Finance Portal will enable corporates to communicate with all their
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ABS Rolls Out Trade Finance Registry to Eliminate Duplicate Transactions
The Association of Banks in Singapore (ABS) has launched the Trade Finance Registry (TFR) to ensure there will be no duplication of trade financing transactions, according to a report by The Edge Singapore. Chaired by UOB, the TFR is supported
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Finastra Partners With Integro Technologies for Frictionless Trade Finance
Financial services software and cloud solutions provider Finastra has partnered with Aurionpro’s subsidiary Integro Technologies for frictionless trade finance. Banks will now be able to combine Integro’s SmartLender solution’s advanced exposure risk capabilities with Finastra’s Trade Innovation solution’s front-to-back capabilities
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MAS Completes Its First Digital Asset Live Trades Under Project Guardian
The Monetary Authority of Singapore (MAS) announced that Project Guardian, its project exploring decentralised finance (DeFi) applications in wholesale funding markets, has completed its first live trades. The trades were conducted under Project Guardian’s first industry pilot which saw DBS,
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Proxtera Launches a Multi-Currency Exchange for ASEAN and African Currencies
Proxtera has launched the beta version of a multi-currency exchange platform, the Emerging Markets Currency Exchange or EMCX, in partnership with WorldFirst, Liquid Group, Thunes and Wise. The EMCX digital hub is being trialed by Singapore SMEs trading across Africa
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Finastra Collaborates With Contour for Digital Trade Finance
Financial services software and cloud solutions provider Finastra will integrate its Fusion Trade Innovation software with Contour, a global digital trade finance network, to provide banks and corporates with a streamlined end-to-end back-office workflow. The collaboration links together the two
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SC Ventures Rolls Out Bank-Agnostic Supply Chain Finance Platform
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has announced the launch of Trade and Supply Chain Connect (TASConnect). TASConnect is a bank-agnostic supply chain finance platform that provides end to end automation, visibility and control of organisations’
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