The Electronic Trade Documents Act (ETDA) is soon to be granted Royal Assent and will be implemented two months thereafter. This Act is the result of years of dedicated effort… read more →
Globalisation is not dead, contrary to recent claims. Nowhere is this more evident than in global trade, where high-growth trade corridors in Asia, Africa and the Middle East are set to outpace the global average by up to four percentage points.
In the ever-revolving landscape of trade payments, a notable trend is gaining momentum as the global financial industry embraces ISO 20022 – a data-rich and interoperable universal messaging format set to replace the legacy Message Text (MT) that has prevailed for years.
According to a study released on Wednesday by the US-based Atlantic Council think tank, 130 nations, representing 98% of the global economy, are currently exploring digital variants of their currencies.… read more →
Finastra, a global provider of financial software applications and marketplaces, announced it has completed testing and certification for the FedNow Service, becoming one of the first vendors in the industry… read more →
Like every aspect of the financial services industry, the correspondent banking world has changed a great deal over recent years due to technology, regulatory regimes, and risk management.
The London Institute of Banking & Finance (LIBF) has joined forces with IU Group, Europe’s leading edtech company and the owner of IU International University of Applied Sciences (IU), Germany’s… read more →
This article focuses on correspondent banking, its role in international trade, and shortfalls of the traditional model that adversely affect lower-income countries, impeding economic development and the advancement of financial inclusion.
One of the difficulties related to international trade is the large volume of paper documents that make up much of the information flow between the different parties, including various documents such as invoices, bills of lading, certificates of origin, and customs declarations.
The financial services industry is constantly changing, and the pace of change is accelerating rapidly, especially for the payments sector. The industry has witnessed many shifts: from the barter system to cash, from cheques to cards, and from cards to digital banking and payments.
