In a blog for the ICC, BNY Mellon’s Joon Kim explores how banks are supporting trade during the Covid-19 pandemic
June 2, 2020
As industries go, trade is not typically known for being nimble. Yet, the unprecedented circumstances of the COVID-19 pandemic are forcing the hand of those in global trade, and banks are swiftly adapting to ensure they can continue playing their fundamental role in enabling the wheels of trade to turn.
Though there are undoubtedly significant hurdles to overcome in the shorter term, once the world settles, we have the opportunity to harness technology to create a new norm – propelling trade finance into a new era of more efficient, streamlined, value-added transactions.
The article can be found here.
TAGS: Financial Services