Relevant Advanced Technologies for Trade and Supply Chain Finance
A new industry report titled »Relevant Advanced Technologies for Trade and Supply Chain Finance« launched by Commerzbank, in partnership with the Fraunhofer Institute for Material Flow and Logistics (IML), reveals that the trade and supply chain finance industries are at a turning point, with emerging technologies and the increasing volume of accessible data setting in motion the rapid evolution of new ecosystems.
Combining the expertise of application-oriented scientists from Fraunhofer IML with trade finance specialists at Commerzbank, the paper underpins the bank’s commitment to shape the trade finance business of the future. The joint research effort shows that digital advancements are pushing the development of improved business models to meet the need for increased operational efficiency and alignment with more complex sustainability goals.
The report identifies the key innovations that are forming the building blocks of the new trade finance ecosystems, including: Big Data and Artificial Intelligence (AI), Blockchain, Distributed Ledger Technology (DLT), smart contracts, Internet of Things (IoT) and sensorics.