https://www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png
  • Home
  • COVID-19
  • News
  • Intelligence
    • Back
    • Analysis
    • Interviews
    • Features
    • White Papers
    • Case Studies
    • Surveys, Reports & Infographics
    • Webinars
    • Podcasts
    • Videos
    • Library
    • Techwire
    • Browse
  • Publications
    • Back
    • Banking Technology Magazine
    • Supplements
    • Daily News at Sibos
    • Subscribe to Magazine
  • Content Hub
    • Back
    • COVID-19: industry impact & response
    • Challenger Banks Guide
    • Food For Thought
    • I’m Just Saying
    • Through a Gen Z Lens
    • Ask The Expert
  • Videos
  • WTF? Podcast
  • Awards
    • Back
    • Banking Technology Awards
    • PayTech Awards
  • Advertise
  • Jobs
  • More
    • Back
    • About us
    • Contact us
    • Advertising / Media Kit
    • Banking Technology Magazine Calendar
    • Reports Calendar
    • FinTech Futures Newsletter
    • Events
  • FinTech
  • BankingTech
  • PayTech
  • RegTech
  • WealthTech
  • LendTech
  • InsurTech
  • US Edition
    • Intl. Edition
Banking Technology
  • NEWSLETTER
  • Home
  • COVID-19
  • News
  • Intelligence
    • Back
    • Analysis
    • Interviews
    • Features
    • White Papers
    • Case Studies
    • Surveys, Reports & Infographics
    • Webinars
    • Podcasts
    • Videos
    • Library
    • Techwire
    • Browse
  • Publications
    • Back
    • Banking Technology Magazine
    • Supplements
    • Daily News at Sibos
    • Subscribe to Magazine
  • Content Hub
    • Back
    • COVID-19: industry impact & response
    • Challenger Banks Guide
    • Food For Thought
    • I’m Just Saying
    • Through a Gen Z Lens
    • Ask The Expert
  • Videos
  • WTF? Podcast
  • Awards
    • Back
    • Banking Technology Awards
    • PayTech Awards
  • Advertise
  • Jobs
  • More
    • Back
    • About us
    • Contact us
    • Advertising / Media Kit
    • Banking Technology Magazine Calendar
    • Reports Calendar
    • FinTech Futures Newsletter
    • Events
  • US Edition
    • Intl. Edition
  • newsletter
  • FinTech
  • BankingTech
  • PayTech
  • RegTech
  • WealthTech
  • LendTech
  • InsurTech

bankingtech.com

bankingtech.com


New epoch for finance as trade unbundles …

  • Written by FinTech Futures
  • 1st October 2014

Rising political tensions and the increasing use of sanctions are making companies think twice about relying on long global supply chains, said John Calverley, head of economic research at Standard Chartered. Firms may decide that rather than hedging their bets with production, they will keep it closer to home, he said during a roundtable session yesterday.

However, while there has been talk about companies ‘reshoring’ (bringing offshored production back onto home territory) there was little concrete evidence that this was yet the case. “Theoretically this could happen; wage rates in Mexico, for example, are now comparable with those of China and it would be easier for some companies in the US to bring manufacturing to Mexico. However, the demand for goods increasingly will come from China and India.”

Caverley is the author of a new report, Global trade unbundled, which examines the increasing unbundling of trade, whereby countries no longer trade in goods so much as in ‘tasks’.

One participant in the roundtable noted how difficult it was for financial institutions to interpret the various sanctions imposed by the European Union and the US. In Europe in particular, there is confusion about exactly what and whom are sanctioned and government agencies in different countries tend to interpret the specifics of the sanctions differently.

Andrey Ivanov, global head of trade finance and correspondent banking, Sberbank CIB, said sanctions have had some impact on the structure of trade finance flows and on the business of Sberbank, geographically and logistically. “However, we consider this to be the start of a new epoch in trade finance as many new partners around the world have shown interest in tapping the Russian market and exploring new opportunities with us to build strong partnerships,” he said.

Sberbank is building partnerships with banks in China, the Middle East and Latin America. There are good trade flows between these countries – for example, $100 billion of business will be done between China and Russia this year.

The bank is continuing to do business with existing partners, although there are some restrictions. For example, exports from Germany have fallen by 20 per cent this year. “This should be taken seriously by German regulators and our banking partners. We are interested in continuing doing business, despite the changes we are facing. The current sanctions regime does not in fact prohibit doing trade finance,” he said.

Tags: Banking, Financial Services/Finserv Sberbank BankingTech, PayTech

Leave a comment Cancel reply

-or-

Log in with your FinTech Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related


  • Fintech funding round-up: SeedFi, Libeo, Ember and Finch Capital
    A round-up of some of the recent investments in fintech, paytech and tax tech firms.
  • Vanquis signs credit building partnership with Loqbox
    Loqbox to help Vanquis customers unable to get credit cards.
  • Capital Group hires Marta Zarraga as new CIO
    Zarraga has 25 years of industry experience at firms like Aviva, Vodafone and BT.
  • Netflix bags Uber’s product head Ebi Atawodi as payments director
    Atawodi spent more than six years at Uber.
  • NBA star Russel Westbrook leads $63m investment in Varo Bank
    Westbrook also joins the bank as an advisor on communities of colour.
  • Banking Tech Awards 2020 Winner: UBS - Best Use of Cloud
    How UBS’s innovative hub helped 60,000 work remotely with virtually no downtime during the pandemic.
  • Video: Top fintech stories this week - 19 February 2021
    FinTech Futures’ weekly news round-up.
  • Banesco Panamá plans digital revamp with Backbase
    Panamanian lender to integrate new products and solutions online.

Related Content

  • Jamaica Co-operative Credit Union League picks ERI for core banking
  • Baptist Health Federal Credit Union picks Finastra system
  • FinTech Futures presents Dock – a virtual roundtable experience
  • Dutch unicorn Mollie expands to UK for post-Brexit opportunities

Dock - virtual roundtables

Dock is free to attend for banks and FIs

Click here to register

Sponsorship opportunities available at Dock

Click here for more info

Magazine

Banking Technology February issue out now

10th February 2021

Banking Technology December/January issue out now

16th December 2020
view all

Webinars

Webinar: How to stop massive mobile banking fraud with app security and risk-based authentication

9th February 2021

Webinar: Deep dive on ServiceNow’s purpose built product for finserv operations

7th January 2021

Banking Tech Awards 2020 hosted online by Tom Ward

30th November 2020
view all

Reports & Surveys

Report: The power of data analytics in fintech solutions

25th February 2021

Omdia Universe 2020-21: Temenos recognised as a leader for digital banking platforms

15th December 2020

Report: Digital KYB – a springboard to customer onboarding success

30th November 2020
view all

Content Hubs

COVID-19: industry impact & response

26th June 2020

The rise of challenger banks around the world

26th June 2020
view all

Podcast

What the Fintech? | S.2 Episode 5 | Rising to the top

25th February 2021

What the Fintech? | S.2 Episode 4 | TMRW never dies: digital banking in the ASEAN

18th February 2021

What the Fintech? | S.2 Episode 3 | Israel’s mobile lending tech scene

5th February 2021
view all

Videos

It’s a matter of comms | Episode 2 | Strategy

2nd March 2021

Video: Top fintech stories this week – 26 February 2021

26th February 2021

Video: Top fintech stories this week – 19 February 2021

19th February 2021
view all

White Papers

Embedded insurance: a $3tn market opportunity, that could also help close the protection gap

4th January 2021

White paper: The business value of ServiceNow for retail banks

12th December 2020

E-book: Migration to cloud – your guide to delivering an intuitive customer experience

8th December 2020
view all

Techwire

Dividend Finance Announces the First Governance, Risk & Compliance Solution That Intelligently Links to How Companies Operate

2nd March 2021

Carpe Data Partners with Unqork to Help P/C Insurers Improve Automation, Enhance Accuracy and Reduce Costs Across Rate-Quote-Bind and Claims Solutions

2nd March 2021

Xendit Raises US$64.6 Million Series B Led by Accel to Scale Its Digital Payments Infrastructure Ushering in a New Era of Economic Security and Reliability in Southeast Asia

2nd March 2021

Bank of New Hampshire Becomes First in State to Partner with ZSuite Technologies

2nd March 2021

Best’s Review Looks at How the Pandemic Is Transforming the Insurance Industry

2nd March 2021

ACI Worldwide and the Internal Revenue Service to Offer New Tax Payment Options for Taxpayers—Including Unbanked and Underbanked Populations—with ACI Payments, Inc.

2nd March 2021

Irish-based Fintech Firm Horizon8 Launches valid8Me, The Digital Identity Vault Solution Transforming Customer Onboarding

2nd March 2021

Prepaid Financial Services Is Now Known As EML Payments

2nd March 2021
view all

Twitter

FinTech_Futures

Dear Luc: Your most embarrassing fintech problems solved In Dear Luc, we answer the questions the industry's finte… twitter.com/i/web/status/1…

3rd March 2021
FinTech_Futures

#Budget2021: What does it mean for UK fintech? fintechfutures.com/2021/03/budget… #FinTech #BudgetSpeech2021 #RishiSunak #Budget

3rd March 2021
FinTech_Futures

RT @moorwand: We've launched a new segment with @FinTech_Futures! 💳 Twice a month 'Dear Luc', the payments agony uncle, will be answering q…

3rd March 2021
FinTech_Futures

London calling "Yet this is not the death knell of the City as we know it." fintechfutures.com/2021/03/london…

3rd March 2021
FinTech_Futures

.@Square finally launches bank after filing first application in 2017 fintechfutures.com/2021/03/square…

3rd March 2021
FinTech_Futures

.@Piraeus_Bank extends Antelop partnership for digital payments [@AntelopSolution] fintechfutures.com/2021/03/piraeu…

3rd March 2021
FinTech_Futures

ABA Bank picks Alessa [@AlessaRCM] system to meet new AML regulations fintechfutures.com/2021/03/aba-ba…

3rd March 2021
FinTech_Futures

.@cryptocom signs deal with @AstonMartinF1 ahead of its return to Grand Prix. @astonmartin fintechfutures.com/2021/03/crypto…

3rd March 2021

Dock: virtual roundtable experience like no other

18-19 May 2021; FREE TO ATTEND

US Challenger banks: who's who & what's their tech

Free to read

Banking Technology Magazine February 2021

Free digital edition

Banking Tech Awards 2020 Winners Supplement

Free digital edition

Fintech Futures
  • About us
  • Advertise with us
  • Contact us
  • Fintech jobs
  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookies Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X