How can banks support trade in a time of crisis? Citi’s Parvaiz Hamid Dalal examines in an article for Global Trade Review
July 20, 2020
The impact of the Covid-19 pandemic on trade has been profound. Disruption to both supply and demand dynamics and supply chain logistics have resulted in the entire trade value chain coming under pressure.
Operationally, however, trade flows have shown remarkable resilience. Banks that have invested heavily in trade technologies are now able to deliver digital trade finance solutions that enable their operations and documentary processing to continue remotely and their clients to initiate these transactions remotely, with little (or even no) disruption. Such banks can connect clients and counterparties digitally, enabling end-to-end transactions to be carried out seamlessly, with funds delivered electronically to buyers and suppliers across the globe.
With global trade having to adapt to these unprecedented levels of disruption, Parvaiz Hamid Dalal, Citi’s global head of strategy and solutions, working capital finance, TTS explores how banks can play an important role in keeping business moving.
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TAGS: Financial Services