SWIFT and Singapore-based Infocomm Media Development Authority (IMDA) have signed a Memorandum of Intent (MOI) for global trade digitalisation.
The MOI will set the framework to offer SWIFT's community of more than 11,000 financial institutions and corporates in over 200 countries and territories more efficient and cost-effective cross-border paperless trade, without the need for multiple bilateral linkages and siloed systems. Both companies see the moving manual processes to digitally-enabled ones creating opportunities to shorten trade processing times and open up possibilities for innovation such as new trade financing offerings to the trade community, according to cdotrends.com.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.