| | In this episode of MEDICI Studio's new video interview series "Weekend Wisdom: VCs Debunked & Demystified," Tilman Ehrbeck, Managing Partner at Flourish Ventures, answers questions about FinTech with purpose. | | | | | | | | Trade finance has always been about global risk mitigation and funding availability for global transactions and vice versa. The basis of trade finance is trust, and hence trusted third-parties such as banks were necessary to maintain trust among the parties involved. However, ongoing geopolitical and macroeconomic headwinds are making trade finance a tough business for banks due to costs, risks, and increased competition. This can be witnessed in the decrease in total merchandise exports, which has seen a dip of 2.7% between 2018 and 2019 (according to the WTO). What is the next logical move for the players in the trade finance business? What exactly does innovation mean for trade finance? In this article, we share some snippets from MEDICI's recently launched report on Innovations in Trade Finance.
MEDICI’s newest report ‘Innovations in Trade Finance’ dives deep into key technologies, such as Robotic Process Automation, Optical Character Recognition, and Artificial Intelligence, that are part of the digital transformation roadmap and key innovations taking place in the trade finance ecosystem. | | | | |
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