Contour, a trade finance platform that uses blockchain technology to significantly speed up various traditionally . Read more at The Business Times. 5. "We were inspired by this spirit and wanted to provide a platform that would allow youth… Liked by Martin Ong. The DLT-based platform currently offers products and processes to members including purchase order and invoice creation, pre-shipment trade finance and post-shipment trade finance on open account trade, duplicated financing checks, and payment status updates. Besides HSBC and Standard Chartered, the other six banks that have invested in the new company include CTBC Holding, ING, Bangkok Bank, BNP Paribas, SEB, and Citi. This innovative approach allows clients to choose and connect seamlessly to their preferred service providers, with the ability to select products and services best suited to their needs. HSBC claimed on Monday it had performed the world's first commercially viable trade finance transaction using blockchain technology.. HSBC. HSBC on Tuesday said it has closed the first receivables financing deal on Singapore's Networked Trade Platform (NTP), paving the way for small and medium-sized enterprises (SMEs) to access funding in just 15 minutes, down from a day traditionally. The platform is intended to accelerate the ongoing transformation of HSBC's global trade and receivables business by refreshing the underlying technology and improving agility and processing capabilities. HSBC and ING Bank have successfully executed a live trade finance transaction for international food and agriculture conglomerate Cargill using R3's Corda scalable blockchain platform. HSBC Holdings has claimed the world's first commercially viable trade-finance deal using blockchain technology, potentially opening the door for mass use. A new blockchain-based trade finance platform, developed by HSBC, Standard Chartered and 10 other banks, was launched in Hong Kong on Wednesday to boost efficiency in the multi-trillion-dollar . . R3 and over 15 of its consortium member banks have completed two prototypes for trade finance using R3's Corda distributed ledger platform. HSBC use cookies to give the best possible experience on our websites. The customised application for HSBC Bank is called SCSAI i.e. Kuala Lumpur, Malaysia. HSBC has just completed the first live end-to-end trade finance transaction on a scalable application for the issuance of a fully digitised letter of credit, using Distributed Ledger Technology, more commonly known as blockchain. HSBC reveals new AML system for trade finance. This includes digital solutions like the HSBC Trade Tracker and Supply Chain Finance platform, as well as our ongoing work to bring blockchain to the region" Sunil added. 3. Trade Assistant Manager at HSBC Trade Singapore. By using HSBC evolve, whether you are a corporate or institutional client, you can access the breadth of HSBC's electronic products, tools and services, 24 hours a day, 5 . Related insights. HSBC claimed on Monday it had performed the world's first commercially viable trade finance transaction… 30 April 2019. In June 2019, HSBC completed a dual-platform blockchain transaction between the Middle East and Hong Kong, followed by three more deals in the region. HSBC, Trade Finance Officer: currently 67 jobs.The latest job was posted on 21 Jan 22. One interconnected, trusted digital network, managed in real time, delivering major operational efficiencies. Speed up end-to-end processing. "Dmitry is a focused and highly motivated individual with a proven track record of success. Around Christmas of 2018, the China Banking Association (CBA) unveiled the "China Trade Finance Union Blockchain Platform" (CTFU). Explore our solutions: Connect and trade Manage your supply chain. TFX will be tightly integrated with GTC's existing @GlobalTrade™ Multi-bank Trade Finance Management Platform used by corporates and financial institutions globally since 2004 for management . Get Started. These invoices or credit notes are processed by HSBC and, where relevant, payments are further processed to suppliers. HSBC's Supply Chain Finance APIs provide a secure channel to buyers to seamlessly send approved invoices or credit notes against invoices to HSBC in real time. The project, led by the Hong Kong Trade Finance Platform Company, includes as launch partners ANZ, Bank of China (Hong Kong), the Bank of East Asia, DBS, Hang Seng Bank, HSBC and Standard Chartered. HSBC's Trade Working Capital (TWC) loan APIs allow clients to draw finance directly from their channel of choice such as an ERP/Accounting platform. By Mark Ford on November 11, 2019. Connecting the world through trade finance . Additionally, clients can also check the latest status and further details of these loans such as the due date for repayment, etc. This session will be focusing on the trade finance functionality within our own online banking platform, HSBCnet as well as a look at our recently updated online platform for receivables finance. Commenting on the new digital service, Ajay Sharma Regional Head of Global Trade and Receivables Finance (GTRF), HSBC Asia Pacific, said: "The HSBCnet Trade Transaction Tracker is another step on our digital journey and is the latest addition to HSBC's award winning electronic banking platform for corporates. Today Contour announced that HSBC has gone live on the Contour blockchain that provides digitized letters of credit (LCs). Contour is backed by eight banks such as HSBC, ING, Citi and others. - Responsible for Marketing, selling of domestic, regional and global Payments & Cash management solutions including account opening, payable/receivable management, connectivity setup to facilitate settlement platform, liquidity management and more to both MNCs & LLCs; -Global Sales . Such a transaction, which usually takes around a week to complete with paper-based processing, was finalized within a few hours on the blockchain, according to HSBC. HSBC is continuing its open banking strategy with the deployment of a new application programming interface (API) designed to promote bank . Grow your business, locally and globally. In China, blockchain-backed trade finance is already widely adopted. The Euromoney Trade Finance Survey based its findings on a poll of more than 7,000 businesses engaged in international trade, asking them to rank the top providers of trade . Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium to build a blockchain-enabled operating system to redefine global trade, has welcomed the Bank of China (BOC), DBS Bank (DBS) and The Hong Kong and Shanghai Banking Corporation (HSBC),to form the consortium's Trade Finance Advisory Group. $0 platform fees. While the flow mirrors the existing letter of credit . HSBC Deploys Trade Finance API For Partner Banks. Join HSBC Trade25 on your HSBC HK Easy Invest app. factoring) as an attractive asset class for institutional and other . In trials to date, HSBC has seen major efficiency games cutting LC processing times from seven to ten days to as little as 24 hours. Ian Lee Analyst Singapore. Leadership: HSBC is the leading global trade finance provider with strong capabilities in developed and emerging markets Experience: More than 150 years of International Trade & Structure Trade Finance Specialist capabilities; dedicated working capital expert team, industry experience, solutions & client centric Recognition: HSBC is an award -winning international trade bank Commodity and Structured Trade Finance. View HSBC Online Share Trading fees and charges. The bank said it has successfully . For just HKD25 a month, join and you'll get: $0 commission on HK, US and China A shares. B2B Payments News: HSBC says it has completed a trade finance transaction on blockchain technology, calling it a first due to its ability to use a single digital application instead of relying on . Edison, NJ — (SBWIRE) — 01/24/2022 — The Latest research study released by HTF MI "Trade Finance Market" with 100+ pages of analysis on business Strategy taken up by key and emerging . UK-headquartered bank HSBC has deployed an automated anti-money laundering (AML) and sanctions screening system in its global trade and receivables finance (GTRF) business.. Serai's goal is to grow international trade among SMEs, so its management will want to have many banks involved. Conduct both import and export transactions. HSBC's Trade Working Capital (TWC) loan APIs allow clients to draw finance directly from their channel of choice such as an ERP/Accounting platform. . R3 was already working with a group of banks—including HSBC—to develop and run a proof of concept (PoC) for a trade finance system based on R3's Corda platform, with a project code name Voltron. Global Trade and Receivable Finance DATA IT Delivery Lead. Features. There is another trade finance platform called we.trade, which also counts HSBC as a founder bank, among other founders such as Rabobank, Santander, Société Générale, UniCredit, and Deutsche Bank. HSBC says that while previously 30% of the bank's trade finance transactions were conducted digitally, the figure now stands at 66%. In October 2019, Singapore launched its first blockchain-based trade finance platform. Banking giant HSBC is giving its global trade and receivables business a technology refresh with a new platform from CGI. LONDON, April 30, 2019 - CGI (NYSE: GIB) (TSX: GIB.A) has been selected to deliver a new global trade technology platform by HSBC Group, one of the world's largest banking organisations.. In May, HSBC and ING Groep NV INGA.AS said they performed the world's first trade finance transaction using a single blockchain platform. eTradeConnect is a Hong Kong, China-based trade finance consortium operated by the Hong Kong Trade Finance Platform Company Limited. He built a highly effective compliance unit in a rapidly expanding consumer banking franchise in Moscow while coping with a challenging and rapidly changing regulatory environment. HSBC has launched a trade finance API that lets partner financial institutions and their clients see the status of their bank guarantees in real time from their own platforms. TATA CLiQ, the e-commerce platform of TATA Group, now processes instant refunds to consumers using HSBC Treasury APIs in India.. Ashish Diwanji, Head of Finance and Business Support, Tata Unistore Limited (Tata CLiQ) said: "Previously we relied on file upload and approval to pay refunds, meaning our customers received their money a day after requesting it - as typically we get refund . HSBC and Temasek said the Asian Development Bank would offer technical and other assistance to the platform, while Clifford Capital Holdings, a Singapore-based specialist financing and . Leveraging the capabilities of Standard Chartered and Linklogis, Olea brings together unparalleled expertise in international . HSBC has just completed the first live end-to-end trade finance transaction on a scalable application for the issuance of a fully digitised letter of credit, using Distributed Ledger Technology, more commonly known as blockchain. . Introducing a guide to our online platforms for Trade and Receivables finance. Supply Chain Solutions Approved Invoice HSBC has opened the door for SMEs to access and utilise Receivables Financing via Singapore's Networked Trade Platform (NTP) following the successful conclusion of a trade deal with Exceltec Property Management via the platform. The application was built using R3's Corda blockchain. HSBC stated that it is committed to digitising trade finance services and is an advocate of blockchain technology applications worldwide. Clearly, change is coming - but how much? Blockchain trade finance platform Contour has hired Joshua Kroeker - formerly HSBC's blockchain lead - as its chief product officer. HSBC, BNP Paribas, Standard Chartered and nine other banks created and launched a platform dubbed eTrade Connect in Hong Kong, in 2018. Dec 2014 - Present7 years 2 months. Inject capital into your supply chain by directing funds globally, offering payment term flexibility. Citi TTS offers an extensive range of trade services, including trade finance, supply chain finance, and export and agency financing. trade finance process. eTradeConnect is a Hong Kong, China-based trade finance consortium operated by the Hong Kong Trade Finance Platform Company Limited. Help for hospitals, state procurement divisions, pharmacies and more — using blockchain to help identify new suppliers, efficiently vetting and on-boarding them, and understanding their real-time inventory availability. HSBC, DBS, BOC join trade finance advisory group on GSBN. Yihan T. Trade Associate at HSBC . Trade Finance Trade Finance -ACSOBA (Official) ACSOBA (Official) . GSBN's blockchain network aims to eliminate paper documentation in maritime trade processes, starting with Cargo Release, which launched in July 2021. "The final step in unlocking the full potential of such a trade finance platform lies is enabling supply chain finance (e.g. HSBC services in twice the number of countries, and use twice the number of CMB products4 >50% of GTRF revenue are fees Documentary trade Guarantees Supply chain finance Trade loans3 Receivables finance Traditional Trade Structured Trade Background 27% 26% 25% 19% 3% What we do Solutions for our customers' trade finance and risk mitigation needs The platform seeks to digitize trade documents and automate trade finance processes using the blockchain. The DLT-based platform currently offers products and processes to members including purchase order and invoice creation, pre-shipment trade finance and post-shipment trade finance on open account trade, duplicated financing checks, and payment status updates. e-Commerce: trends and opportunities - from HSBC Asia Pacific Trade Exchange. "Scalability is between three to five years away, and probably beyond," said Mendonca. Coming soon. Permanent, Full time. Global Trade and Receivables Finance. HSBC. Explore our solutions: Connect and trade Manage your supply chain. The systems are part of the bank's ongoing efforts to improve financial crime detection and HSBC . Yesterday, HSBC said it had made its first live interbank forfaiting transaction on the CTFU […] Watch the webinar. The application was built using R3's Corda blockchain. Owned and operated by the Hong Kong Trade Finance Platform Company Limited (HKTFPCL), eTradeConnect is a platform built on Blockchain that allows buyers and sellers to create, exchange and confirm purchase orders and invoices in real-time, share information on a "need-to-know" basis as well as submit applications for financing on one single interface. The platform, Corda, was developed by New York-based . Show more. Connect trade finance banks and trade partners on a single platform. According to the bank, the transaction forms part of a second round of pilots that the we.trade consortium members kicked off in June. Cargill's soybean shipment in May 2018 was the first live end-to-end trade finance transaction on a scalable application for a fully digitized letter of credit, using blockchain. HSBC China has recently completed a forfaiting interbank transaction with Bank of Communications on the China Trade Finance Inter-bank Trading Blockchain Platform (CTFU). In the coming months the Bank Guarantee API and further Trade Finance APIs will be added to the HSBC Developer Portal, which provides access to HSBC's Live and Sandbox APIs.. ING Bank and Standard Bank are already working with HSBC to integrate the Bank Guarantee . HSBC has selected Canadian IT and business consulting services group CGI to deliver its new global trade technology platform. The bank issued a letter of credit for U.S. food and . HSBC Singapore actedas The solution officially went into production in August of this year. However, neither HSBC nor Bank of America were involved . In what the bank is calling an "industry first", the AML system will use big data, analytics and contextual monitoring to "detect and disrupt crime in international trade". Integrating APIs in banking platforms. Blockchain platform Contour has gone live after a period of beta testing. Trade has been the foundation of HSBC since 1865, when we were established in Hong Kong and Shanghai to finance and facilitate the growing trade between Asia, Europe and the U.S. Today, we are one of the world's strongest banking partners, and a leading provider of international trade and supply chain . Managing HSBC Trade Transformation Common Data Services platform consists of micros services, Near Real Time updates via CDC serving as trusted source of information for Trade Engine and Front End services. It aims to optimize and speed up traditional trade finance processes by digitizing them. While the flow mirrors the existing letter of credit . The bank said that the new platform is intended to accelerate theongoing transformation of HSBC's global trade and receivables business by updating the underlying technology and improving agility and processing capabilities. HSBC, the world's leading trade bank, has introduced a Matched electronic Purchase Order (Me-PO) financing solution to dramatically improve the release of working capital. HSBC Trade25 is designed especially for the next generation of stock traders aged 18-25. FOR CORPORATES. There were ten banks at the time, with the only foreign-owned bank as HSBC (China). We simplify global trade by providing businesses with a platform to connect, trade and build more efficient supply chains. Trade Finance Blockchain Platform. In the first bit of good news, a pilot transaction between Tainan Spinning and Century Synthetic Fiber Corporation was completed on Contour's blockchain network and "showcases the growth of the business in Vietnam and Taiwan". Additionally, clients can also check the latest status and further details of these loans such as the due date for repayment, etc. Plus, with our online banking platform, HSBCnet, you'll have a single point of access to accounts and information for enhanced control over global supply chains. Serai might even try to sell its technology to other banks. Technology to shape the future of trade. "Our technology drive in the Middle East reflects our own digital drive," says HSBC's Natalie Blyth, global head of trade and receivables finance. Technology to shape the future of trade. Taking a radically transparent approach to partnering with both suppliers and investors, Olea drives meaningful impact in the global economy. Now they are trying again, armed with blockchain, a type of distributed ledger technology. 314341, a wholly owned but non-guaranteed subsidiary of Bell Financial Group Ltd (ASX:BFG), at the request of HSBC Bank Australia Limited ABN 48 006 434 162 AFSL 232595 ("HSBC"). A sign featuring a HSBC Holdings Plc logo hangs outside a bank branch in London, U.K. Photo by Hollie Adams/Bloomberg Article content. Free access to our Trade25 Academy to level up your stock trading knowledge.
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