New technologies such as the internet of things and 3D printing are not just transforming global supply chains – they are also changing the way trade is being financed, forcing trade finance providers to innovate their offerings.
In a conversation with GTR on the launch of a new report, Vinay Mendonca, HSBC’s global head of trade finance propositions, says the bank is currently exploring ways to finance the trade of data and design as 3D printing and the internet of things (IoT) gain momentum. It comes in response to a growing need from the bank’s customers for more innovative ways to finance modern supply chains.
The bank’s report Navigator: Now, next and how for business, released today, surveyed 6,033 firms of all sizes across 26 markets on their short-term outlook for global trade. It found a high degree of optimism: 77% of the companies expect their trade volumes to increase in the next 12 months.
