South Africa and global insurance, financial institutions, banking and general law know–how
The increase in documentation fraud which has adversely impacted financial institutions operating within the trade finance space is an unwanted development that blockchain technology can mitigate.
The types of lending most frequently seen in the trade financing space, including letters of credit, revolving credit facilities as well as guarantees have proven susceptible to fraud. An…
The paper-based nature of trade finance presents significant risks of error, fraud and duplicated costs.
The COVID-19 pandemic has revitalised efforts towards digitisation, because the transport of these documents is dependent on courier services and the processing is dependent on in-person handling. The International Chamber of Commerce (ICC) called on governments and central banks in…
