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The world of trade finance is undergoing a rapid transformation with the advent of technology.
From increased automation to the integration of artificial intelligence and blockchain, the application of technology in trade finance has the power to make cross-border trade more efficient, inclusive, and equitable for small and large businesses alike.
Deliver Value-Adding Functions
Banks seeking a long-term future in trade finance must focus on delivering value-adding functions on the front end for documentary trade and financing [1].
This can include providing a seamless and user-friendly experience for clients, streamlining processes, and offering real-time tracking and monitoring of transactions.
The Importance of Best-in-Class Operations
Technology has the power to make cross-border trade more efficient and equitable, particularly for small and medium-sized businesses.
The use of technology such as artificial intelligence and machine learning can help trade finance reduce overall operational costs and improve the customer experience [2].
