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British Arab Commercial Bank Successfully Originates Multiple Trade Transactions Digitally Using the Tradeassets E-marketplace
In 2019, British Arab Commercial Bank (BACB), an international wholesale bank headquartered in the United Kingdom, became the first British bank to start executing cross-border trade finance transactions with emerging market banks through its partnership with TradeAssets – a trade finance e-marketplace for digital origination and distribution of trade assets. In the months that followed, BACB’s collaboration with TradeAssets has enabled it to conclude multiple transactions successfully with banking counterparts in emerging markets.
Commenting on the success, Martin Broadhurst, Senior Manager, Corporate and Institutional Banking at BACB, said: “BACB, through its successful usage of the TradeAssets portal, has demonstrated that efficiency and productivity – which are integral to our operations – are a natural by-product of digital innovation.”
BACB believes that a post-pandemic world will require some traditional methods of doing business to be replaced by solutions, such as digital origination, which can create new efficiencies without compromising on risk management and compliance.
“The closing of trade finance deals online in three clicks is the way of the future. BACB, through its active usage of our e-marketplace, has demonstrated that as more banks with progressive thinking adopt such processes, it will benefit both the banks and their clients around the world”, said Dolly Huq, Managing Director, Fintech Innovations International (TradeAssets).
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Maven VCTs Launch £50 Million Fundraise
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Cuzdan LLC Partners with PayTabs Group to Power Azerbaijan’s Digital Payments Future
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EFT Corporation Appoints Adri Führi as Group Chief Financial Officer
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Aditya Birla Global Trading and Crown Agents Bank Partners to Support Business Expansion Across Africa
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The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project
Almaviva, an Italian digital innovation Group, and Fabrick, a Sella Group company active in Open Finance at an international level, have been selected by the European Central Bank (ECB), as part of the Digital Euro project, to develop the mobile app and its technological infrastructure that will enable European citizens to use the European digital currency.
EXCLUSIVE: “The Advantage of Ancient Errors” – Tony Fish in ‘Discover Sibos 2025’
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EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’
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Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation
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MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy
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