Evolving technology continues to transform trade finance with increasing numbers of startups, banks, and companies contributing towards change. From mobile banking applications to blockchain ledgers — there has been an explosion in financial technology (fintech) initatives in recent years that are impacting the industry.
Fintech projects and initiatives are shaping the roles of banking and trade finance professionals around the world. For instance, the 2018 ICC Global Survey on Trade Finance – a survey of 251 banks headquartered in 91 countries – found that 43% participants identified “developing partnerships with fintech firms” as a priority for development in the next 1-3 years. It has clearly been recognised that collaboration and closer relationships are the way forward.
In recognition of this growing importance of fintech, the ICC Banking Commission will be hosting a Fintech Showcase, as part of its annual meeting taking place on 20-23 April in Dubai. The showcase will feature fintech leaders and shine a light on many of the new and exciting innovations that are taking place within the industry.
“The Fintech Showcase will bring together a variety of technology providers to exhibit their initiatives and engage with industry participants on their activities,” said Daniel Schmand, Chairman, ICC Banking Commission and Global Head of Trade Finance, Deutsche Bank.
“The growing presence of fintechs within the industry is shaping client preferences and bringing new business models, with market participants and traditional trade finance providers learning to collaborate and cooperate with these new actors.”
Representatives from fintech companies are invited to take part in the showcase. By applying, participating companies will have the opportunity to outline their business models, strategies, and activities to a panel of experts, who will select a maximum of five companies to take part in this elite showcase. Companies from across the fintech/tradetech spectrum are invited, from invoice and receivables financing platforms to blockchain-based solutions to trade distribution platforms.
Read why you should attend the ICC Banking Commission Annual Meeting in Dubai.
To register or to learn more about the event, please visit ICC Knowledge 2 Go.