Key Expectations for Banks and Corporates 

While the pain points stated above can be significantly eased by digital trade ecosystems, some alignment is still required between the expectations of corporate clients and the capacity of banks providing products and services in trade finance. Corporates are mostly looking ahead to automated digital trade processes that will reduce manual effort while ensuring consistency and reducing error rates. They also seek the increased connectivity that digital ecosystems of various banks, fintechs, and other players in the trade space can provide within the fragmented trade community of importers, exporters, shipping companies, customs agencies, and banks. They are less concerned with gaining access to new, innovative products, improved commercial terms, or greater choice between competing banks. They instead seek the operational benefits of digital ecosystems and the potential to significantly reduce their costs in a more competitive world.

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