4/2/2017 0 Comments What will competition, AI, block chain and automation do to Trade Finance? And some tips to thrive in the new world that’s dawning.I used the recent holiday period to sit back and explore some of the emerging global themes around my current professional area of banking practice, which is commodity and structured trade finance (CSTF) with corporate clients.
We all know that growth in global trade has been weak. The trade finance departments in most of the world’s banks have been under significant pressure from weak transaction growth, or actual declines in business. Why is this and will it continue? Is there actually less business or is it going to the emerging non-bank competitors? We also know that block chain, artificial intelligence (AI), machine learning and cognitive intelligent systems will have a significant impact on traditional trade banking roles – especially document heavy processing areas in the so called “back office” functions. But how and where and how quickly? Finally, what should individual trade finance bankers do to thrive in the new world emerging in trade finance. I’ve collated some of my research into a deck you can download (be warned – it’s over 30 pages!). These are my conclusions (2 minute read):
David L Thomas
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