Trade finance digitisation faces ‘tipping point’ amid coronavirus lockdowns
S&P Global Market Intelligence: 31 March 2020
Demand for digital trade finance solutions is growing in light of coronavirus lockdowns, with technology companies saying the crisis could be a tipping point for the traditionally paper-heavy and manual business to go digital.
Every year, the global trade finance industry consumes enough paper to stretch from London to Beijing—and that’s just the start of the problem. At first glance, paper might seem like a minor operational expense, but beneath the surface lies a web of hidden costs that...
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