Share-buying Dabbl app overfunded in first Seedrs campaign
Designed as a low-barrier entry for the public.
Trade Finance
First trades go live on we.trade blockchain platform
Ten companies traded via four banks.
Blockchain Summit 2018: the role of banks and how not to get lost in the hype
Banks seek to define their role amidst all the new kids on the block.
VAKT on guard for commodities on blockchain
Partners with Deloitte and ThoughtWorks for post-trade processing.
London stock market freezes for an hour due to technical issue
The issues were only temporary, but delayed trading for an hour.
Why blockchain could revolutionise trade finance documentation
Standards, regulation and a network all need to be fully achieved before widespread adoption.
Goldman Sachs heads $250m funding round in Tradeshift
Firm says its valuation now stands at $1.1 billion.
Commerzbank makes first major FX pilot transaction via blockchain
First deal involving a large German corporate.
Addiko Bank puts digital banking solutions on Appian
Austrian bank finds the way to low code developer’s platform.
Top fintech stories this week – 18 May 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Commerzbank calls on R3 Corda blockchain for trade finance thrust
A boost for trade and supply chain finance services.
HSBC and ING in blockchain-backed trade finance breakthrough
“First” scalable trade finance transaction on R3’s blockchain platform.
Citizens Bank in trade finance tech revamp with Finastra and Infosys
On the way out is CSI’s Banktrade trade finance system.
Diamond Bank sells UK subsidiary to industrialist Sanjeev Gupta
To be renamed as British Commonwealth Trade Bank (BCTB).
First pilot client transactions executed on Batavia trade finance platform
IBM and big banks’ blockchain initiative makes progress.
Vietcombank revamps trade finance tech with Finastra
Finastra’s Fusion Corporate Channels and Trade Innovation will cover front-to-back office trade finance ops.
Big guns team up for Marco Polo blockchain trade finance initiative
BNP, Commerzbank and ING joined by Standard Chartered, DNB, and OP Financial Group.
Tradeshift explores new Frontiers with innovation lab launch
To boldly go where many other fintech firms have been before.
Danske Bank digitises international trade with essDOCS
To help the bank’s corporate customers to go digital on international trade related documents.
Tungsten Network and BNP Paribas e-invoicing takes away pain in supply chain
Tungsten Network will work with BNP Paribas to offer e-invoicing linked receivables purchase and e-invoicing linked supply chain finance (e-SCF) to large corporates in the US and Canada.
Blockchain and Bitcoin round-up: 29 November 2017
Bitcoin high, Russian firsts, trade finance digitisation, US moves, and an interoperability alliance. Another day of action in the busy blockchain and Bitcoin world. Features Sberbank, IBM, Infosys Finacle, BitFlyer and the Blockchain Interoperability Alliance. Doubt you missed it, but Bitcoin has reached an all time high of $10,000. We were inundated with similar comments […]
BBVA and Wave test blockchain-based international trade transaction
BBVA, working in collaboration with Wave, performed the first blockchain-based international trade transaction between Europe and Latin America.
Federal Bank opts for Intellect’s digital transaction banking platform
Federal Bank in India has selected Intellect Design Arena’s digital transaction banking (DTB) platform as part of its revamp. The system is powered by an omnichannel corporate banking exchange (CBX) portal with backend processors for collections and receivables, payables, account services and supply chain finance. Intellect says DTB will also augment the front end of […]
Blockchain: a world of possibilities
Amid the hype around distributed ledger technology and blockchain it can seem they are technologies looking for solutions. In the heavily paper-based business of trade finance, such technology looks promising and progress is being made elsewhere.
Daily News at Sibos 2017 – Day 4
Read our fourth and final Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
De-risking in trade finance: time to act
As financial authorities express concern about de-risking in correspondent banking, a similar phenomenon is emerging in trade finance, driven by the high costs of KYC compliance.
Interview: Robert Barnes, TradeIX – the IX in Trade
In an exclusive interview with trade finance specialist TradeIX, co-founder and CEO Robert Barnes explains how banks’ senior management is focusing on one goal and why product silos simply do not work.
Standard Chartered takes TradeIX and Infor route for digital trade finance drive
Standard Chartered is using TradeIX’s TIX blockchain platform and Infor’s GT Nexus Commerce Network for two separate digitalisation efforts in trade finance. The TradeIX platform enabled Standard Chartered’s unnamed client to “help its customers increase their payment terms whilst maintaining the company’s receivables at current terms”. The financing was offered by Standard Chartered with credit […]
R3 and TradeIX plan open account trade finance DLT network
Enterprise software firm R3 and trade finance specialist TradeIX are developing an end-to-end open account trade finance business network which will be powered by TradeIX and R3’s Corda distributed ledger platform. The initiative is a joint undertaking between the duo, and 12 financial institutions including Bangkok Bank, Barclays, BBVA, Bladex, BNP Paribas, Commerzbank, CTBC Bank, […]
Seylan Bank to swap legacy trade finance tech for Finastra’s Fusionbanking Trade Innovation
Sri Lanka’s Seylan Bank is modernising its trade finance technology with Finastra’s Fusionbanking Trade Innovation system. On the way out is the legacy China Systems’ Eximbills system, Banking Technology understands.
HSBC makes a GT Nexus for digital trade
HSBC’s customers in the US can now access GT Nexus’s digital commerce platform for managing supply chain processes. Vinay Mendonca, global head of product and propositions, global trade and receivables finance at HSBC, says: “We, and a number of our customers, identified GT Nexus as a platform that could help our customers improve their financing […]
Commercial Bank of Dubai in core banking platform upgrade
International Turnkey Systems (ITS) has upgraded its core banking system, Ethix, at Commercial Bank of Dubai (CBD).
HSBC digitises global trade with IBM
HSBC and IBM are working on a project “to develop a cognitive intelligence solution combining optical character recognition with advanced robotics to make global trade safer and more efficient”.
R3, CGI and eleven banks develop blockchain-based trade finance app
Following a year of development and testing, R3, CGI and eleven banks unveil a prototype of a trade finance app built of R3’s Corda distributed ledger technology (DLT).
Commerzbank processes first BPO live transactions in Austria
Commerzbank has processed the first bank payment obligation (BPO) transactions in Austria, covering the import of bus components from Germany and Italy. The buyer, a customer of Commerzbank Austria, is TAM-Europe, located in Slovenia. The suppliers are MAN Truck & Bus, headquartered in Munich, and ISAF Bus Components, an Italy-based supplier and customer of UniCredit. […]
Saudi British Bank selects Bolero electronic trade document solutions
The Saudi British Bank (SABB) has chosen Bolero International’s electronic trade document solutions for its corporate clients. According to Bolero, SABB is the first bank in the Kingdom of Saudi Arabia to let its clients initiate transactions electronically – and so “eradicate time-consuming inefficiencies associated with paper documents”. David Dew, managing director, SABB, says the […]
Mizuho trials Australia-Japan trade transaction on blockchain
Mizuho Financial Group, Mizuho Bank, trading and investment firm Marubeni Corporation, and Sompo Japan Nipponkoa Insurance have completed a trade transaction between Australia and Japan using blockchain. The participants say all trade-related processes, from issuing the letter of credit to delivering documents, were completed entirely via a digital platform in this project. (See image below […]
Commerzbank turns to blockchain for digital trade finance
Commerzbank and the Fraunhofer-Institute for Material Flow and Logistics (IML) in Dortmund have teamed up to research and develop the digitisation of trade finance using blockchain. The bank says by using blockchain or distributed ledger technologies (DLT), it will build a decentralised database for internet of things (ioT) applications and smart contracts. This will offer […]
Top fintech stories this week – 30 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
IBM and seven European banks team for SME trade finance blockchain project
A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.
