Supply chain finance takes centre stage at 2020 ICC Banking Commission Annual Meeting

Supply chain finance (SCF) processes offer business with solutions to help strengthen relationships between buyers and sellers participating in global trade.

Over the past few years, banks have increased their supply chain finance services. Most notably, banks processing the largest volumes of trade finance reported a more than 30% growth in supply chain finance, according to the ICC 2018 Global Survey on Trade Finance. The ICC Global Survey –which interviewed 251 banks across 91 countries — also found that 42% of banks believe that future gains over the next 12 months would come from supply chain finance. These statistics confirm that supply chain finance is a critical topic for banks everywhere.

With supply chains extending across different regions of the world, businesses face increased scrutiny from auditors, rating agencies, and others over the commercial nature of their supply chains. As a result, trade finance professionals must ensure that their supply chains are both secure and stable. Both geopolitical tensions and global economic volatility have shed light on the need for standardisation of terminology, rules and processes relating to SCF, to allow common understanding of the techniques available for widespread adoption.

Other factors for the industry to address include the sustainability and long-term security of supply chains. How can standards, such as the new ISO standards on chain of custody, make supply chain traceability easier?

The 2020 ICC Banking Commission Annual Meeting, which takes place in Dubai on 20-23 April, will examine these questions and more with several sessions devoted to supply chains, including Managing supply chain risks: Riding the Waves in a Complex Environment.

“With ongoing global political and macroeconomic uncertainty, managing supply chain risks and understanding new trends in supply chain security should be a number one priority,” said Christian Hausherr, Chair, ICC Global Supply Chain Finance Forum and Global Transaction Banking Product Management Trade Finance Supply Chain Finance EMEA,  Deutsche Bank

“Our Annual Meeting is an ideal opportunity to debate with fellow industry experts, discuss the latest regulatory changes affecting SCF and learn how to foster sustainable supply chains.”

The two-day flagship event is expected to gather over 400 attendees from more than 65 countries to influence policy and guidelines affecting the trade finance industry. As part of the ICC’s mission to lead for the long term – and promote the transition of investments to a long-term and sustainable trajectory – the Annual Meeting is a chance for all industry participants to be a part of the global movement for change and have their say as part of the world’s most authoritative voice in trade finance.

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.