A new report from Aite Group examines the role that banks play in facilitating international trade among businesses. Based on the results of Aite Group’s May 2011 online survey of 41 European trade finance practitioners at banks, corporations, logistics operators, and technical regulators of international trade, the report provides insight into the instruments commonly used and preferred for facilitating trade finance. It also considers the future of supply chain finance and trade hubs.
As trade becomes increasingly global, the ability to effectively import and export creates a competitive advantage for corporations finding new opportunities abroad. While banks have supported their corporate clients by delivering traditional trade-finance instruments such as documentary credit, forfaiting, and guarantees, Aite Group’s survey reveals a gap between corporate demand and bank offerings. Corporate decision-makers seek solutions that mitigate risk while minimising costs based in inefficiencies, and supply chain finance and trade hubs promise to be the new frontier for trade finance.
“Industry trends and research confirm that supply chain finance remains high on corporate executives’ agendas worldwide, even as the maturity of the supply chain finance market remains rather low,” said Enrico Camerinelli, senior analyst with Aite Group and author of this report. “The key industry challenge is closing the gap between what corporations want and what market players offer, and financial institutions are well positioned to apply their breadth of expertise to this area.”
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