Interviewed By Foo Boon Ping
Clients are embracing digital tools and HSBC's innovative financial solutions to adapt to evolving consumer behavior, technology disruptions, ESG transitions, sustainability, pandemic impacts, and geopolitical tensions, with the Electronic Trade Document Act paving the way for enhanced efficiency and fraud reduction in global trade
Clients are adapting to changes in consumer behaviour, technology adoption, disruptions in technology, environmental, social and governance (ESG) transitions, sustainability, the pandemic's impact, and geopolitical tensions. They are exploring solutions like business to business marketplaces, sales portals, and digital tools to support their new business models. HSBC aims to provide solutions such as receivable finance to enhance liquidity and extend payment terms, supply chain finance to expedite supplier payments, and inventory finance for contingency management.
The Electronic Trade Document Act, stemming from United Nations model work, is facilitating the digitalisation of key trade documents, improving speed, reducing fraud, and increasing efficiency in global trade. This legal framework will enable businesses, including SMEs and large corporations, to embrace electronic bills of lading and digital solutions more readily.
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