Transforming trade and working finance to achieve customer excellence in a post-COVID world

The survey seeks to examine the following key focus areas:
 
  • End-to-end digitization at source, from banks' own channels and from external ecosystems.
  • Total working capital finance – models to enable fast, efficient and integrated innovation of working capital finance products.
  • Networking trade to enable open trade finance through collaboration and leveraging of automation & technology for optimized operations.
 
All responses are anonymous. Please ensure you add your email address to receive a copy of the final report and results. 
 
The survey is estimated to take 5 to 6 minutes.

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* 1. How would you categorize the institution you represent?

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* 2. Are you considering making any changes to your trade finance business model?

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* 3. If yes, why?

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* 4. What options (if any) are your organization considering for its trade finance model? (tick all that apply)

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* 5. To what extent do you forsee demand for trade financing growing or declining over the next two years?

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* 6. What do you consider to be your priority areas of development and strategic focus? 

  1 (highest priority) 2 3 4 (lowest priority)
Attraction of non-bank capital to create additional trade financing
Decrease in geographic/client coverage
Emerging technology, digital trade and online trade platforms
Financing new sectors
Increase in geographic/client coverage
New alliances between banks and fintechs
Organizational structural reform towards transaction banking
Supply chain finance
Traditional trade finance

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* 7. How concerned are you about the potential obstacles outlined below?

  1 (very concerned) 2 3 4 (not concerned)
AML/KYC requirements
Balance sheet constraints and insufficient credit limits
Capital regulatory requirements
Clients’ lack of familiarity with products
Competition and disruption from fintechs and non-banks
Counter-terrorism and international sanctions regulation
High transaction costs and/or low fee income
Increasing protectionism, trade restrictions resulting in economic uncertainty
Lack of access to capital
Legacy technologies
Reduction in pool of trade finance specialists

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* 8. Compared to 2019, before the COVID-19 pandemic, how challenging has it been to attract suitable trade finance knowledge and expertise in the last year?

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* 9. Have you implemented any new digital solutions (such as automated processes, APIs, network capabilities, ERP, blockchain etc.) across the trade and working capital finance business to reduce the disruption caused by COVID-19 to support your customers?

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* 10. If yes, what did you implement and how has the outcome impacted your business?

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* 11. Does your bank have a digital strategy for trade finance to implement new technology solutions?

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* 12. What solutions are you using for digitized trade finance?

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* 13. To what extent do your customers currently use digital channels in each of the following areas?

  1 (fully engaged) 2 3 4 (not used at all)
Documentary trade
Guarantees
Loans
Receivables finance
Supply chain

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* 14. Over the next 2 to 3 years, how much do you foresee the extent to which customers leverage digital challenges in each of the following areas to change?

  1 (fully leveraged) 2 3 4 (none at all)
Documentary trade
Guarantees
Loans
Receivables finance
Supply chain

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