The trend for outsourcing of global trade activities is set to increase rapidly for corporates and financial institutions alike, according to research published by ABN AMRO. The bank said that the number of financial institutions considering outsourcing their trade operations either in part or in full is increasing as consolidation takes place; currently the top two per cent of banks handle 70 per cent of trade volume. Among corporates, the focus on effective working capital management is driving a move away from using transactional banking products for specific needs, to a more holistic approach to their financial supply chain, noted the bank. The research revealed that 67 per cent of companies surveyed already had active programmes underway to improve working capital. Daniel Cotti, Managing Director, Working Capital Global Trade Advisory at ABN AMRO, said: ‘With an increased focus on working capital it becomes clear that by consolidating and outsourcing trade activities, corporates can benefit from the core competencies of banks in financing and settlement, business and process expertise, regulatory knowledge and global presence.’
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