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LMA survey: outlook for the syndicated loan market in 2018
6 December 2017

The Loan Market Association has released the results of its members' survey: outlook for the syndicated loan market in 2018. Questions included "How much have the financial regulatory changes over the past five years impacted your business?".

Tungsten Network, BNP Paribas to offer e-invoicing linked receivables & SCF solutions to large corporates
6 December 2017

Tungsten Network is to work with BNP Paribas to offer e-invoicing linked receivables purchase and e-invoicing linked supply chain finance to large corporates in the USA and Canada.

UKEF to launch new supply chain product
1 December 2017

New minister for trade and export promotion, Baroness Rona Fairhead, today announced that UKEF are to launch a new product to support UK exporters and their supply chains. This comes under the export strategy review from the department of international trade. 

China Tian Lun Gas raises working capital
1 December 2017

China Tian Lun Gas Holdings has signed a HK$1.25 billion ($160 million) five-year loan for refinancing and working capital. The deal comes with guaran...

UK's AML fines surge 166%
1 December 2017

The value of anti-money laundering (AML) fines issued by the UK's revenues and customs branch, HMRC, has surged 166% this year to more than $1.5 million, suggesting authorities are getting tougher on compliance, according to FortyTwo Data research.

Waddle secures $38m debt funding
30 November 2017

Australian SME lender Waddle has secured $38 million of debt funding from an unnamed investment management firm. The company - which last year started providing invoice financing to SMEs on the Xero platform - also said its lending volume has surged nearly 100% to $22.8 million.

Infosys Finacle puts blockchain into practice for trade finance
30 November 2017

Infosys Finacle, part of EdgeVerve Systems, has unveiled the global availability of Finacle Trade Connect, a blockchain based trade finance solution for banks. The solution will help digitise processes such as validation of ownership, certifying documents and making payments.

Currenxie offers trade finance to online sellers in Asia
28 November 2017

Asia-based SMEs that sell online to overseas buyers face a growing challenge accessing finance, especially from traditional sources, according to the eCommerce head of Currenxie, which plans to start offering trade finance to Asia-Pacific businesses selling via Amazon.

Predicting dilution is key for invoice finance solutions
28 November 2017

Despite a flurry of new kinds of invoice finance, funding receivables based on buyer data will always be safer than doing so based on seller data, given that buyer data helps predict dilution, according to the chief credit officer of Interface Finance.

Bank of Baroda launches SCF solutions
28 November 2017

India's state-run Bank of Baroda has launched a supply chain finance (SCF) solution to offer working capital loans to SME and big corporate clients. The solution will cover pre- and post-shipment products such as dealer or channel finance, vendor finance and payable finance.

Big banks raise SME loan approval rates
28 November 2017

Big banks have raised their SME loan approval rates to a new post-recession high, with 25% of SME loan applications green-lighted in October, according to Biz2Credit research. Still, alternative lenders approved 56.8% of SME loan applications, with 42% of those SMEs using AltFin to buy inventory.

Allianz to buy rest of Euler Hermes in €1.85bn deal
27 November 2017

Germany's biggest insurer Allianz is to buy the shares in French credit insurance firm Euler Hermes it does not yet own for about €1.85 billion. Allianz has struck a deal to buy 11.3% of Euler Hermes’ stock for €122 per share in cash, taking its holding to 74.3% of shares.

Linkifin to to offer SCF in West Africa
24 November 2017

Nigeria-based fintech Linkifin has partnered with South Africa's Propell to provide end-to-end supply chain finance (SCF) solutions across West Africa. The two firms also recently inked an agreement to provide Prime Revenue's SCF platform in South Africa.

Manual invoice processing a burden for UK firms
23 November 2017

The manual processing of supplier invoices is a major burden for UK firms' finance staff, with more than half of those surveyed by Wax Digital saying suppliers often create invoices with incorrect financial values while 37% complain of missing PO numbers.

Deutsche Bank, ADB agree $200m SCF deal for SMEs
23 November 2017

The Asian Development Bank (ADB) and Deutsche Bank have agreed a $200 million financing deal for SMEs under the ADB's Supply Chain Finance Program. It will support SMEs in Bangladesh, China, India, Sri Lanka and Vietnam that supply United Arab Emirates-based retailer Landmark Group.

Australia shortens terms for SME suppliers
23 November 2017

Australia will from this week pay its government contractors within 20 days as part of an effort to combat late B2B invoice payments to SME suppliers. The new invoice payment term rules apply to contracts worth up to $1 million and will reportedly affect more than 6,800 firms.

UniCredit rolls out cross-border instant payments solution
21 November 2017

UniCredit has launched its instant payments solution in Italy and Germany. The lender immediately conducted its inaugural instant payment from Germany to Italy. The payment took 2.5 seconds to be completed.

Kabbage secures $200m RCF from Credit Suisse
21 November 2017

Alternative lender Kabbage has reached a deal with Credit Suisse for a $200 million revolving credit facility and says it will use the funds to offer longer-term credit to SMEs. Kabbage is currently the target of a lawsuit that argues it and partner Celtic Bank tried to evade Massachusetts' usury law.

Perfect 10 Deals of the Year 2017: Send submissions now
Perfect 10 Deals of the Year 2017: Send submissions now
Sean Keating
20 November 2017

TXF is open for submissions for its Perfect 10 Deal of the Year Awards 2017. Please help us to help you to ensure your deal is on the system prior to launch of voting in December

Visible supply chains mean predictable cash flow
20 November 2017

Effective supply chain management goes beyond shipment tracking and into areas like payments tracking, supplier management and predictive data analytics, according to Elemica. For many industries though, supply chain visibility remains stubbornly elusive.

Trad tech or trade tech?
Trad tech or trade tech?
Helen Castell
20 November 2017

As corporate demands for faster, more seamless services put banks under pressure to digitise, traditional trade financiers face an uphill struggle caused by their own legacy technology and the growing competition from fintechs.

Russian PXFs: Has the post-2014 bubble burst for good?
Russian PXFs: Has the post-2014 bubble burst for good?
Callum Burroughs
20 November 2017

Margins and the security afforded by pre-export loans to Russian borrowers have weakened in 2017 as unsecured loans gain market share. But is it simply a market correction or an ongoing trend?

Currenxie launches trade finance solution for Amazon sellers
17 November 2017

Cross-border payments provider Currenxie, which counts Chinese technology giant Tencent amongst its clients, has announced the launch of its Trade Finance Solution for Amazon sellers. The service is available in Hong Kong and APAC, with a gradual global rollout planned for the future. 

TPP moving forward again
17 November 2017

The Trans-Pacific Partnership trade agreement is moving forward once again. With the endorsement of the leaders of 11 countries, the deal could come into force as soon as next year.

LCs: An outdated concept?
LCs: An outdated concept?
Helen Castell
17 November 2017

The shift to open account trade continues to raise question marks over the future and relevance of traditional letters of credit (LCs).

Only 12% of US SMEs have used alternative finance
16 November 2017

Only 12% of SMEs in the US have used alternative finance to access credit, while 39% have not even heard of it, according to a survey by alternative lender Reliant Funding. The minority of SMEs who do use alternative finance say the length of time accessing bank loans was a key reason.

Prudential, StarHub launch blockchain-based trade platform for SMEs
16 November 2017

Insurer Prudential has partnered with Singapore telco StarHub to launch a blockchain-based digital trade platform for SMEs. Called Fasttrack Trade, it will help SMEs find distributors, make payments, track goods and buy insurance, and could be expanded to SMEs outside Singapore.

BlockEx partners OpenText to develop blockchain-based SCF platform
15 November 2017

London-based BlockEx has partnered with Canada's OpenText to develop a blockchain-based marketplace for supply chain finance. The more-than 600,000 companies connected to OpenText's Business Network will have the choice of opting in to the platform.

Noatum Maritime refinances terminals debt
14 November 2017

Spanish ro-ro and bulk port operator Noatum Maritime has refinanced €91 million ($107 million) of debt backing its terminals in Barcelona, Malaga...

Societe Generale launches a “Sustainable and Positive Impact Finance” offering
13 November 2017

Societe Generale has unveiled the creation of a consolidated "Sustainable and Positive Impact Finance" offering within the global banking & investor solutions activities.

Ultimate Finance launches SME AP solution for food and agriculture
13 November 2017

UK-based Ultimate Finance has launched an accounts payable solution to help SMEs in the food and agriculture industry pay supplier invoices on time. Big data and sophisticated risk management software have made it easier for financiers like Ultimate Finance to address SMEs' financing gap, it says.

B2B fintechs land big investments
13 November 2017

B2B fintechs including Indian agricultural supply chain financier FarmLink, German cloud-based transactions and cash flow management platform provider Treasury Intelligence Solutions and Hong Kong-based alternative lender WeLab secured fresh funding last week.

UK doubles export finance to Ethiopia
13 November 2017

Britain has doubled the amount of export finance it is making available to support UK-Ethiopia bilateral trade to £200 million, Trade Secretary Dr Liam Fox said as he led a UK business delegation to the country.

Trump administration sets approach to new Russia sanctions
13 November 2017

The US government has taken a number of significant steps to implement sanctions on Russia. Recent guidance offers increased clarity for both US and non-US companies on the government's principal areas of concern and implementation priorities.

Banks miss opportunity to collaborate with UK SMEs
10 November 2017

Traditional banks are failing to meet UK SMEs' calls that they play a more collaborative role as business advisor - and most banks are aware of this. As a result, 43% of SMEs are considering switching to a challenger bank or fintech, according to a survey by fintech Strands.

Sumeet Malhotra is new Singapore partner at Hill Dickinson
10 November 2017

International law firm Hill Dickinson has announced that partner Sumeet Malhotra has joined its Singapore office. He previously worked at senior in-house positions at Cargill, and at Noble Group in Singapore, where he dealt with dry shipping matters, commodity trade disputes and transactional matters involving commodity trading and commodity-backed structured trade finance.

BFS provides factoring facility to help US manufacturer meet 400% sales growth
10 November 2017

Bibby Financial Services (BFS) is providing a $3 million factoring facility to support a US-based global manufacturer and distributor of organic salad dressings. The facility solution will allow the company to ramp up production to meet the 400% sales increase projected for 2018.

New secure payment option for traders launches
9 November 2017

Escrow.com has announced that its Platform API is now available in public beta. With escrow, buyers get to inspect the goods or services before accepting them. Likewise, sellers are protected from counterparty risk by no chargebacks.

ICC Banking Commission explores trade finance digitisation

The International Chamber of Commerce (ICC) Banking Commission's new working group on digitisation explored at its recent 2017 technical meeting in London how digitisation might help the trade finance industry improve transparency, make time and cost savings and cut compliance and operational risk.

SCF challenge adds to Toys R Us woes
9 November 2017

Supply chain cash flow has become a major challenge for Toys R Us, with news in September that the toy manufacturer plans to file for bankruptcy, leading suppliers to either stop shipping products to the company or demand cash on delivery.

Bank of China launches operations in Pakistan
9 November 2017

The Bank of China has started its operations in Pakistan by opening its first branch in Karachi. It is hoped the move will further speed up the pace of trade and economic cooperation between the two countries.

Syndicate agrees $318m Kexim-backed shipping deal
9 November 2017

A syndicate of banks, supported by the Export-Import Bank of Korea, has lent $318 million for the purchase of five container ships by CMB Financial Leasing. The vessels will be constructed by Hanjin Heavy Industries and Construction Philippines.

JP Morgan and HSBC use SWIFT's KYC Registry
9 November 2017

JP Morgan and HSBC are both using SWIFT's Know Your Customer (KYC) Registry in a bid to streamline processes and improve customer experience. The registry is a centralised repository that maintains a standardised set of information about correspondent banks.

Euler Hermes releases results for Q3
8 November 2017

Revenues at trade credit insurer Euler Hermes were up 3.2% on the same period in 2016, while year-to-date revenues were up 0.3% at €1,929 million. Net income stands at €228.1 million, up 0.9%.

ECIC and South African exporters revitalise the export effort
ECIC and South African exporters revitalise the export effort
Jonathan Bell
8 November 2017

At the TXF Cape Town conference in October, Kutoane Kutoane, CEO, Export Credit Insurance Corporation of South Africa (ECIC) took time out to talk with TXF editor-in-chief, Jonathan Bell, about the changing focus of ECIC and the new push now being made for South African exports with a greater emphasis on markets across the African continent.

Open Banking will weaken traditional banks
8 November 2017

The introduction of Open Banking could see new digital players use the huge volumes of data that traditional banks have gathered - and failed to use - to target the most profitable parts of the same bank, according to new research. This could leave traditional banks saddled only with unprofitable products.

UPS joins blockchain alliance
8 November 2017

United Parcel Service (UPS) has joined the Blockchain in Trucking Alliance and says the technology has the potential to increase transparency among shippers, brokers, consumers, vendors and other supply chain stakeholders. Analysts say it could also reduce payment disputes in the industry.

Yes Bank appoints Ajay Rajan as head of transaction banking sales
8 November 2017

India's Yes Bank has appointed Ajay Rajan as group president and head of transaction banking sales. He will be responsible for a range of products, including trade and supply chain finance. He has more than 21 years of corporate banking experience with Deutsche Bank in the areas of trade finance and cash management across India.

Ebury opens new office in Toronto, led by Matthew Acton-Davis
8 November 2017

Corporate global transaction services fintech group Ebury has opened an office in Toronto - its first outside Europe. The office will be led by Matthew Acton-Davis as country manager.

DS-Concept provides factoring facility for expanding garment trading company in Hong Kong
8 November 2017

DS-Concept has provided a $1.5 million factoring facility to a garment trading company that specializes in sourcing solutions for its global customers. The company, headquartered in Shanghai with an office in Hong Kong, mainly exports to Europe.