After years of offering up cheap credit and low-cost trade finance services, regional banks are finally making meaningful in-roads with Asian customers.
International trade sounds glamourous, but often entails enough paperwork to sink a battleship. CT speaks to Bolero which fixed the first electronic bill of lading for a Taiwanese shipper.
Trade financing – where financial institutions provide credit facilities to guarantee exchange of goods – is long overdue a blockchain overhaul. Standard Chartered and Siemens believe they’ve made the first step.
Cherry-picking corporate treasurers are causing problems for regional financial institutions which are losing wallet share to their more nimble counterparts.
In one month, China’s foreign exchange regulator has fined 48 corporates, banks and individuals. European chemistry giant Solvay, as well as HSBC, are on the list.
The French bank intends to boost its presence in China and the Asia Pacific region. It's promoting three senior staff and poached two from Deutsche Bank.
