PYMNTS: Optimizing Data To Unlock Trade Finance Collaboration

Well before the coronavirus crisis hit, businesses — particularly small and medium-sized enterprises (SMEs) — were faced with a whopping $1.5 trillion gap in available trade finance that hampered their ability to grow. Now, with survival on the line for many companies, the urgency to close the trade finance gap has grown.

While a slew of FinTechs have stepped onto the market in recent years in an effort to facilitate funding, the vast majority of trade finance is provided by a handful the world's largest financial institutions. It's a complex ecosystem, however, in which financial institutions must coordinate with insurers, institutional investors, and each other to not only originate trade finance, but mitigate risk and distribute assets.

Full article