Trade Finance Rebooted

Transcription

1 Trade Finance Rebooted Jenny Alexandrou Session and date

2 Agenda 1. The growth of Trade 2. Temenos response developments and 2016 roadmap 4. Demo of Channels Corporate view 5. Introduction to Blockchain and Trade and open forum

3 The growth of Trade how this is being handled in the Temenos Core Banking system

4 Trade business evolution- ICC 4 Cross-border trade has more than tripled since the 1980 s Trade is expected to grow by on average 7% a year until % trade are on Open Account transactions The fastest growing Trade Finance Product is Supply Chain Finance

5 Trade Growth - Gottfried Leibbrandt, Head of Marketing, SWIFT 5 Industry forecasts indicate that world trade will grow by 73% in the next 15 years, with merchandise trade volumes in 2025 hitting $48.5trillion, compared to today s $27.2trillion. ICC and SWIFT are best positioned to help the banking industry facilitate further growth of trade using innovative solutions. SWIFT is committed to helping its member banks deliver innovation in trade finance to the corporate world Gottfried Leibbrandt Head of Marketing SWIFT.

6 2015 deliveries and 2016 roadmap

7 Corporate Suite Deliveries Trade - Channels Import LC s amendments, drawings and discrepancies Export LC s advising, amendments, drawings and discrepancies Advised guarantees, amendments and invocations Issued guarantees, amendments and invocations Clerk dashboard Manager - dashboard Trade Finance inward MT422, 430, 420 inward MT416 and MT999 Trade - Channels Corporate Dashboard POC Q1 Q2 Q3 Q4 At the time of writing this roadmap is accurate and is regularly updated, however, for various reasons it may be subject to change

8 Corporate Suite Planned Roadmap Trade Channels Inward collections notification of collection with scanned documents, payments, acceptances, finance Export collections visibility of collection, payments, acceptance and finance Trade Finance enhancements Amendment commission/acceptance commission/discount commission of Import LC Currency to default from LC to drawing Collection avalisation Shipping guarantee commission Claim under Letter of Guarantee Default of assignment of proceeds into drawings Swift changes for 2016 Bank Payment Obligation and Supply Chain Q1 Q2 Q3 Q4 At the time of writing this roadmap is accurate and is regularly updated, however, for various reasons it may be subject to change

9 Comparing the different types of Trade products 9

10 Demo of Temenos Connect from Corporate view

11 Demo of Temenos Connect from Corporate view 11

12 Introduction to Block chain and Trade and open forum

13 Blockchain The turning point for innovation in financial industry 13 The 5 Unique Characteristics of distributed, decentralized ledger Consensus Validity Uniqueness Immutability Authentication

14 Cost-Cutting is the Big Hope 14 Blockchain could create tamper-proof supply chain management Simon Taylor Blockchain and Distributed Ledger Subject Matter Expert Barclays $54bn annual clearing & settlement costs globally 30% of these costs could be reduced by blockchain by 2021 $16bn of savings for the industry Temenos View We will seek out opportunities to understand this technology better and may pursue some ideas how to associate ourselves with it POC: Trade Finance Standard Chartered Bank, DBS Bank and Infocomm Development Authority of Singapore (IDA) have developed proof of concept (PoC) for a blockchain-based invoice trading platform.

15 Don t forget! 15 Join the conversation Tweet or Facebook post the #tcf2016 Download this presentation now you can download this presentation and other TCF materials from the TCF2016 app Have your say take part in the 9th annual TCF survey, also available on the TCF2016 app

16 Thank you