Wednesday, 19 January 2022
 The Asian Banker Online Publication

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Issue No 178

Fragmented approach masks potential at trade digitalisation

As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade. The paper-heavy, multi-party, and multi-process nature of trade finance makes the task of effectively digitalising a trade ecosystem significantly complex. Furthermore, the myriad of rules and regulations covering multiple countries and industries that creates differing standards, legal frameworks, practices and technologies, renders the effort towards end-to-end trade digitisation siloed.


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