Standard Chartered and Siemens to pilot blockchain-based smart guarantees
Collaborating with digital trade provider TradeIX.
Trade Finance
JP Morgan breaks broker hearts with free trading app
You Invest undercuts most digital trading competition.
UMB Fund Services revamps ETF systems with Temenos
Yeah, we get it, you can customise it.
Debonair DNB completes trade finance test with Marco Polo
First release of the TradeIX platform on blockchain goes well.
Sumitomo Mitsui Trust Bank goes live with DTCC’s Alert
Becomes the first Japanese global custodian on the database.
NatWest and Large Credit Union Coalition join R3’s blockchain club
UK bank and Canadian group provide double delight.
Velocity accelerator calls for wealthtech start-ups
The programme will last six months and start in October.
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.
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.
Top fintech stories this week – 18 May 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
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.
First pilot client transactions executed on Batavia trade finance platform
IBM and big banks’ blockchain initiative makes progress.
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.
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 […]
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, […]
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).
TradeIX unveils blockchain platform for trade finance
TradeIX has launched its TIX Platform, the “first open platform” for trade finance powered by blockchain. The platform provides banks, alternative funders, business-to-business (B2B) networks, technology providers and corporates with a way to finance trade-related assets. Like everyone else commenting on trade finance, Rob Barnes, CEO of TradeIX, says the market has “high-cost, high-maintenance, time-consuming […]
Sweet sixteen keen on CCRManager’s trade finance platform
Sixteen financial institutions (FIs) are onboard for CCRManager’s new electronic platform, developed for the distribution of trade finance, supply chain finance and working capital assets. Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions and UniCredit have signed up as members of the platform to support their trade risk distribution businesses. In addition, […]
Blockchain and Bitcoin round-up: 17 May 2017
The world moves fast, so you need a fast read. A round-up of key events in the blockchain and Bitcoin arena. Featuring Coinsilium Group, SatoshiPay, Aragon, ShapeShift and Kotak Mahindra Bank. Blockchain accelerator Coinsilium Group reveals that SatoshiPay, a “nano-payments” company in which Coinsilium has a 12.08% equity interest, has added PayPal as a new […]
How crude! IBM oils up for blockchain threesome
Natixis, IBM and physical commodities trading group Trafigura have launched the first blockchain solution in commodity trade finance for US crude oil transactions. The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, allows “major steps” in a crude oil transaction to be digitised on the blockchain, ensuring that famous trinity of […]
Tradeshift’s AI Ada aids commerce
Supply chain finance firm Tradeshift has unveiled Ada – an artificial intelligence (AI) layer on its commerce platform. Ada will learn from user interactions, “improve business processes”, and offer contextual information. It is available to third-party developers and interacts with users platform-wide as a conversational interface. Christian Lanng, CEO and co-founder of Tradeshift, says Ada […]
IBM and Maersk first for cross-border supply chain on blockchain
Maersk and IBM have unveiled the “first industry-wide” cross-border supply chain solution on blockchain. According to IBM, 90% of goods in global trade are carried by the ocean shipping industry each year. Their new blockchain solution will do the usual things – help manage and track the paper trail of shipping containers across the world […]
ING and Société Générale oil up on blockchain
ING and Société Générale have used blockchain to carry out a live oil trade between parties with Mercuria, the global commodity trading group. The platform, called “Easy Trading Connect”, is designed for paperless trading and aims to digitalise and standardise commodity transactions in order to “increase speed and efficiencies” in the trade process. The prototype […]
Trade finance and blockchain: the right time
Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.
Amsterdam Trade Bank streamlines trade finance ops with CargoDocs
Amsterdam Trade Bank (ATB) has signed for CargoDocs DocPrep+ from specialist trade finance solutions provider essDOCS.
Nordea fully automates processing of Swift MT798 messaging
Nordea has announced it now can handle the Swift MT798 messaging in a fully automated manner. MT798 facilitates corporate-to-bank (C2B) and bank-to-corporate (B2C) communication for the processing of documentary credits and guarantees.
MasterCard unveils new blockchain
MasterCard has unveiled its own blockchain as it reacts to arch-rival Visa’s partnership with Chain and seeks to use the technology in payments and trade finance. Its version is currently at the testing stage and offers the usual things in this corner of the fintech world. These include smart contracts – scriptable transactions that automate […]
CBA and Wells Fargo in “world-first” interbank blockchain trade transaction
Commonwealth Bank of Australia (CBA), Wells Fargo and trading firm Brighann Cotton have completed the “first” global trade transaction between two banks using blockchain, smart contracts and the Internet of Things (IoT). The transaction involved a shipment of cotton from Texas to Qingdao, China, using a distributed ledger – Skuchain’s Brackets system – for all […]
Citi’s treasury and trade goes digital with eSubmit
Citi Treasury and Trade Solutions has launched electronic document submission (eSubmit) for account opening. The service is available in “select” Western European countries and allows clients to complete the account opening process by returning electronic versions of documentation rather than paper. Sabine McIntosh, global head of account services product, Citi Treasury and Trade Solutions, says […]
