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Updated by Emerio Banque on Mar 02, 2021
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Finance Industry News | Business & Financial Updates

Stay updated with the latest news related to global finance, banking, trade finance, letter of credit, investment, business landings, business deals, financial collaboration, tech finance, corporate services and much more.

HSBC Issued First 'green' Trade Finance Facility For UAE's Lamprell

Even the trade finance industry is experiencing a “green touch”.

Recently the British multinational investment bank HSBC has announced a $48 million green trade finance facility to the Middle East and North Africa (MENA) region for the UAE based project services company Lamprell. The aforesaid raised finance will provide aid to Lamprell in the execution and implementation of its fabrication work on the Seagreen Offshore Wind Farm project off the coast of Scotland.

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Supply Chain Trade Finance: An Industry View

The trade finance industry has been experiencing a difficult time due to the lockdown and global pandemic of COVID-19. It is a tough situation for both importers and exporters. There is no credit available for the buyers in the international market while suppliers are struggling with big complexities.

According to Tim Nicolle, CEO, PrimaDollar, “Asian suppliers are facing difficulties in three ways. In the first quarter, there were cancellations of orders along with the buyers even when the goods were ready to ship. The factories are running out of cash with the availability of goods. Secondly, it was due to lockdown. The third hit is buyers are asking for credit.”

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Asian Trade Finance Demand Rises As Recovery Takes Hold

Regardless of the effect of global threat of COVID-19 pandemic on the worldwide economy, the trade transaction measurements in Asia completed 2020 ahead of 2019 levels as per told by HSBC. According to the proprietary information collected from the global trade bank, it is indicated that the number of bank guarantees, trade and receivable finance instruments availed on a monthly basis in 2020 left 2019 levels behind in September and dominated last year-levels throughout the fourth quarter.

Ajay Sharma, regional head of global trade and receivables finance, Asia Pacific, at HSBC says, “The task of anticipating what type of recovery would be there was quite difficult. At a specific time, we checked our data and it was flattering. In the data of July, we witnessed that working capital cycles were extended, past dues were big and there was a complexity in the banking system. Currently, it has returned back to normal. I do not consider any of us could have anticipated this quickened bounce back. ” He further added that in terms of transaction abstract, the fourth quarter of the past year was good in the past eight. “This simply addresses the strength of the recovery that we are experiencing.” He explained.

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Non-Bank Global Trade Finance Market Research Report and Forecast To 2027 | Coface, Trade Finance Global, Clear Treasury

A research report on the non-trade bank finance market has been published by the Global Market that covers the accumulated information on the latest industry trends, market influencers, development opportunities, and limitations with capabilities to change the market factors of the report. It also offers a glimpse of the thorough analysis of the market fragments including products, implications, and end-user applications.

This report also consists of a detailed analysis of industry leaders that their most recent turns of developments, product portfolio, price structure, mergers & acquisitions, as well as collaborations. Additionally, it contains complex strategies aiding them to grow their market share. The Non-Bank Trade Finance Market research report is established by applying strong research tricks and Porter’s Five Forces analysis to highlight the tricky grid of the market.

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Factors That Bank Keep In Mind Before Lending Money

Are you seeking a personal loan to expand your business? Do you need finance for buying more equipment for your business? Well, applying for a personal loan can help you solve all your financial problems but how you convince a bank or a lending institution to give you a personal loan is totally up to your awareness of the essential criteria.

Lending services can be a quick and effective way to cater to your every type of business needs whether it is for starting a new venture or consolidating debt. But getting personal finance from a bank involves a complex procedure with the significant steps of customer verification which conclude your overall result.

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HSBC Collaborates With HKTVmall To Get Digital Trade Finance To Merchants

Recently, with an agenda to facilitate trade finance services to e-commerce merchants’, HSBC has joined forces with HKTVmall, a Hong Kong-based online shopping and entertainment platform.

The initiated collaboration by HSBC will allow HKTVmall’s merchants who are engaged in the operations of selling electronic appliances, fashion & consumer goods to get instant finance without any requirements of submitting collateral or financial documents to the lenders.

For this purpose, HSBC will conduct a thorough check of the vendor’s data from HKTVmall so that it could examine and predict their credit performance. It includes turnover and refund records of several types of goods etc.

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Corporate Banking In 2021

Various financial institutions are looking at their development opportunities into the profitable commercial sector struggling with their set of complexities and difficulties as guidelines and cost regulations become the dominant focal point. In the 2021 year, the banks ought to be prepared to resolve the various general difficulties in the journey for SME business. The implanted extensive computerized capabilities also hold an important place to help in cost reductions and proficiency gains.

Bridging The Trade Finance Gap

The global pandemic of COVID-19 has caused an unprecedented global economic dislocation which could take many years to recover from. It had adverse effects on the supply chain across the world and short-circuited business activities. But these are not the only ones. The disruptions can also be seen through various industries and after joining them with the moving client interest, it caused cash flow complexities for SMEs around the world. Many businesses are struggling to recover from these unpredictable effects of the economic crises caused by the global pandemic, many other factors are blocking the chances of success.

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Wärtsilä Participates In Paperless Trade Finance Experiment

Recently, with an agenda to digitalize the process of Export Letter of Credit which is presently being taken care of manually and by email utilizing paper records and PDF documents, the technology group Wärtsilä has taken part in the innovative co-creation project. With the aforesaid co-operation, it can be clearly stated that these manual documents can be easily replaced with the safe, secure, and regulated data sets that allow automated processing. This is viewed as an advancement accomplishment. Earlier, Tradeteq signed a deal with Microsoft to automate trade finance.

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Emerio Banque Is Digitizing The Global Trade Finance Solutions For Improved User Experience

Emerio Banque - A globally recognized financial institution facilitating international trade transactions with its trade finance service and other offshore banking services like Letter of credit/Bank Guarantee etc has now taken a revolutionary step towards making the trade finance process more digitized.

Today, more and more corporate clients are seeking to organize their transactional process on a single, centralized, and synchronized digital platform to reduce global trade transaction time and cost as well as to minimize the fraud risk. Emerio Banque initiates to provide an enhanced digital banking experience with smooth, safe, quicker, and uninterrupted trade transactions to all its corporate clients by implementing the latest digital data flow platforms and emerging technologies.

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Modifi Acquires PrimaDollar's Export Trade Finance Business

Recently, PrimaDollar has made a prudent decision to focus only on its category ie. a leading supply chain trade finance technology platform as it has sold all its existing export customers who are SMEs, to Modifi. Modifi is an SME-focused startup that provides necessary aid to businesses in development as well as guides them in maintaining strong relationships on an international level and taking advantage of local economies. Both the companies are mutually agreed on executing the transaction for only future businesses. PrimaDollar is likely to keep its existing outstanding trade finance book.

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DZ Bank Chose Surecomp For Digitizing Trade Finance

Today, it has been announced by Surecomp, a leading supplier of global trade finance solutions for banks and corporates that DZ Bank, as a component of its excursion towards digitized trade finance activities has selected DOKA-NG to be its cutting through digital trade finance platform.

DZ Bank is the second-largest bank in Germany with headquarters in Frankfurt that provides central bank facilities for almost 850 co-operative banks across the nation. The trade finance department provides services on behalf of both direct customers and member banks, considered as the trade finance hub to function a plethora of transactions. The team at DZ bank also handles international trade finance processing requests from the Hong Kong branch of the bank. By keeping the requirements of multiple corporate clients of varying sizes in mind as well as increasing transaction quantities, DZ bank forms an opinion to transition its activities to the next level of digitization. The task of implementing DOKA-NG is the initial step by the bank. It is an API-enabled digital.

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Arab Bank Received the Middle East’s Best Trade Finance Provider 2021 Award

Recently, Arab Bank was honored with the “Best Trade Finance Provider 2021 in the Middle East” award by Global Finance, a New York-based international publication at the Bankers’ Association for Finance and Trade (BAFT) and the International Financial Services Association (IFSA) global annual meeting in London.

This honor is considered as the acceptance of the bank’s influential position in the area along with its excellent capabilities in facilitating up-to-date banking solutions and trade finance instruments that cater to the clients’ emerging requirements across different sectors.

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  • Emerio Banque is one of the trusted, reliable and globally recognized financial institutions offering international trade finance and other online banking services to all its clients across the globe with an expert and professional team of young enthusiasts. They are highly-experienced, trained, and certified capable enough to address your business’s financial needs according to your requirements and suitabilities. If you are running an international business and looking for a safe, legal, and authentic platform to get assistance on import/export finance or other offshore banking services, you are in the right place.

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