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London-headquartered fintech Beacon plans to use open banking to assess customers’ bank account data in real time, enabling it to improve its credit offering to SMEs, the company has revealed. Beacon, which provides a digital supply chain and freight platform, will also use other technology to access clients’ live accounting information. The company’s head of ...
Blockchain platform MineHub has introduced a new solution that will enable its users to certify and report ESG credentials such as direct and indirect carbon emissions for the products they sell, buy and finance. Launched in 2019, the MineHub platform focuses on trade operations and document flows between metals and mining companies. It allows parties involved in ...
The International Chamber of Commerce (ICC) has formed an advisory board comprising intergovernmental, policy and industry actors in the global trade and trade finance industry, in order to accelerate progress on the worldwide legal reform needed to enable digital trade. Launched today under the auspices of the ICC’s Digital Standards Initiative (DSI) governance board, the ...
China’s commitments to financing in Africa are shifting away from giant infrastructure developments and towards developing stronger trade flows and commercial investments, analysts say. At the Forum on China-Africa Cooperation (Focac) in late November, the country unveiled an action plan that included around US$40bn of commitments in the form of trade finance, commercial investments and ...
Troubled commodities trader Rhodium Resources lost insurance cover totalling more than US$580mn last year, leaving it unable to pay creditors and facing the threat of insolvency, court documents reveal. Singapore-headquartered Rhodium fell into serious financial difficulties in August 2020, according to documents submitted to the city-state’s High Court in December that year by its chief ...