Shayne Elliott says legacy banks must focus on smarter interaction with clients. A blockchain-based system for proving the provenance of Australian grain shows how it can work.
As Donald Trump looks to pull out of the Trans-Pacific Partnership, the remaining nations have three options available to them to salvage the situation. Either way, access to trade finance will continue to suffer.
The percentage of Asia-Pacific companies reporting late payment issues remained high in 2015, and the situation isn’t expected to get better, with China proving a special concern.
Global trade flow volumes have declined in 2012, dwindling to $37.7 billion and registering 217 deals in the year. This is down from $40.5 billion and 593 deals recorded in 2011.