SMBC builds out trade innovation team with new hire | Global Trade Review (GTR) gtreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gtreview.com Daily Mail and Mail on Sunday newspapers.
Goldman Sachs has continued its venture into new technological territory, following up the launch of a transaction banking service in mid-2020 with an API-based offering that lets clients embed banking services directly into their own products.
The US-headquartered banking giant has added hundreds of clients and US$28bn in deposits since the establishment of its transaction banking service, a spokesperson says.
Chad Wallace, global head of digital product and design at Goldman Sachs, tells
GTR about the next step: its development of a banking-as-a-service model, which lets clients connect directly to internal systems and offer “embedded finance” to their own customers.
Waldo de Vleeschauwer, co-founder and former managing director of Africa Merchant Capital’s trade finance business, has launched Artis Finance, a London-headquartered alternative finance provider.
Artis is founded against a backdrop of growing market and regulatory pressure on traditional bank lenders, which de Vleeschauwer says has made it more difficult for companies of all sizes and sectors to access trade finance.
The company plans to partner with mid-market corporates looking to optimise their working capital arrangements, as well as businesses with over US$100mn in turnover and value-aligned organisations that can demonstrate sound governance.
“Bank lending is cyclical and glacial in nature, and like the natural world, we are going through a ‘glacial retreat’ phase with respect to lending in trade finance,” says de Vleeschauwer, speaking to
Important information and who we are
For the purposes of the Data Protection legislation, the Department for Digital, Culture, Media & Sport is the controller of the personal data you provide us with for the purposes of our stakeholder engagement.
We collect and process your personal data in accordance with applicable law. This includes, without limitation, the EU General Data Protection Regulation (2016/679) and the UK Data Protection Act 2018 together with other applicable UK and EU laws that regulate the collection, processing and privacy of your personal data.
We have appointed data protection officers (DPO) within the Department for Digital, Culture, Media & Sport who are responsible for overseeing questions in relation to this privacy notice. If you have any questions about this privacy notice, including any requests to exercise your legal rights, please contact the DPO using the details set out below.
James Binns, global head of trade and working capital, Barclays
Mencía Bobo, global head of trade and working capital solutions, Santander
Michael Hogan, head of transaction banking in Emea, MUFG
Naeem Khan, global head of trade finance, Crédit Agricole CIB (
chair)
Daniel Schmand, global head of trade finance, Deutsche Bank
Enno-Burghard Weitzel, global head of trade products, Commerzbank
Martina Zimmerl, head of trade finance, Raiffeisen Bank International