The Covid-19 pandemic has gifted us a rare opportunity to reset and re-shape the world we live in. What may previously have been regarded as a dream – paperless trade – is now a reality. What may previously have been regarded as difficult – supplier onboarding – is now made easy. What may previously have been regarded as impossible – interpreting vast amounts of unstructured data – is now child’s play. What may previously have been regarded as low margin – supply chain finance – is now a $20 billion revenue opportunity. Let’s not allow this crisis to go to waste
This paper analyses the perfect storm of Covid-19 and lists seven major areas of focus that show banks how to position themselves not only to survive but to obtain a competitive advantage in these challenging times.
About the author
David Hennah, Global Product Head, Trade & Supply Chain Finance, iGTB
David Hennah leads the trade and supply chain finance business at iGTB, having previously held a similar position at Finastra (formerly Misys). He is also Co-chair of ICC committee that published rules for Digital Trade (URDTT)
David has previously worked for Barclays, ICL/Fujitsu Services and SWIFT and has more than 40 years of experience in senior leadership roles across banking, software and consultancy. He is also the author of the ICC Guide to the Uniform Rules for BPO. More recently, he has assumed a variety of industry roles, including serving as co-chair of the World Trade Board (of which he remains a member). He is also an expert advisor to both the ICC Academy and the London Institute of Banking & Finance (LIBF).
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