Bank of China, DBS and HSBC join Global Shipping Business Network (GSBN) to form the Trade Finance Advisory Group. The consortium will explore the technical, legal, and regulatory frameworks necessary to break the siloes that exist between physical and financial supply chains. The group will also collaborate to test digital solutions such as electronic Bill of Lading and other supply chain data to improve the financing process for banks. According to the International Chamber of Commerce, there is an estimated trade finance gap of $1.5 trillion projected to grow to $2.5 trillion by 2025.
Re-disseminated by The Asian Banker from GSBN