Gartner Insights Abstract

Top Trend in Banking for 2024: Prioritize Digitalization in Global Trade Finance and Supply Chain

Published: 12 March 2024

Summary

Supply chain is being reinvented. Nonbanks are taking advantage of this reinvention to position their capabilities around global trade finance and supply chain. Financial services leaders can use this analysis to understand future trends and prioritize global trade digitalization.

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Overview

Opportunities
  • Corporates and small and midsize businesses (SMEs) demand a fully integrated payment, trade and financing solution, and have plans to switch to providers that can offer an integrated solution. No predominant financial institutions exist that offer all these supply chain finance solutions. There’s room for banks to upgrade their global trade and supply chain systems to tailor for different client segments. In this research, financial services institutions refer to traditional banks (corporate and commercial banking), commercial lending companies that offer trade finance and supply chain business, digital giants (such as Amazon and Alibaba), and startup or established fintechs.

  • Traditional

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Analysts:

Mary Yan Alistair Newton

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