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Embedded finance payments globally are expected to surpass 6 trillion euros by 2025. That’s according to the new Global Embedded Finance Market 2024 report, which explores how AI, collaboration, and data security are going to be key themes for the sector in the coming year. Read more about the future of embedded finance in FinTech Futures - https://lnkd.in/embZeH-5 #report #payments #embeddedfinance

AI's ability to transform Trade Finance is tantalizingly immense, so I thought it helpful to share 5 key areas for an AI revolution... and one key area of concern specific to our industry 🙄😅 1. Risk ⚡️ AI's ability to analyze vast datasets offers deep insights into market trends, credit risks & fraud detection. This isn't just about risk mitigation; it's about seeing around corners and foreseeing them. 2. Efficiency/Speed 🏎️ Trade Finance is synonymous with paperwork and slow processing. From KYC to document verification, AI radically reduces processing/ decision & execution times. 3. Compliance/Regs: 📜 International trade is complex and compliance is often a Herculean task to process, requiring massive human teams & oversight committees. AI's ability to continuously learn/adapt to reg changes enables compliance to become seamless, fast, robust....and most importantly, fun! Well, perhaps not fun, but certainly quicker/better! 4. New Products: ✨ Trade Finance has existed for thousands of years & AI's ability to analyze complex data at an unprecedented scale unlocks the creation of new, tailored financial solutions. This shift enables clients to leverage trade finance products that are not just effective but also aligned perfectly with their specific needs and goals. That's huge. 5. Blockchain Integration: ⛓️🖥️ Blockchain's potential has always been compelling, but when combined with AI, the success potential multiplies exponentially. AI/Blockchain integration promises enhanced security, transparency, and traceability in trade finance, building an open trust-based ecosystem that all parties can rely on... this is somewhat a 'nirvana' state, but certainly worth discussing. Now, the area of concern... 🤦♂️ This won't be popular and is my own opinion (as always), but at a recent GTR NY event a speaker (who I won't name, but comes from a Top 4 Consulting Firm) also gained zero friends by observing "80% of this room will be retired in under 10 years"... and herein lays the problem. Traditional Trade Finance was slow to execute on Web 2.0/3.0 innovation due to a lack of technical knowledge & and these same faces who have IMMENSE product expertise, but can barely operate a microwave, are still here today. 😅 The amount of casually dismissive comments about AI/Blockchain I hear on a day-to-day basis from incumbents is bizarre & the reason for it, is simple. The "80%" (consultants' words, not mine!) - won't be around to see it implemented, so why bother to adapt now? Our industry needs fresh perspectives, new technologies & new talent with the 'crazy dreamer' mindset required to modernize, disrupt and (most importantly), grow our industry! We need entreprenuers! ... So my only ask if you are an "80%er" and encounter one of these unicorn builder folk who might need your expertise... For god sake don't put them off! 😅 #AI #fintech #tradefinance #blockchain

How are changes in the Finance Industry impacting Finance Departments? The latest report from World Bank Group gives some interesting insights. Here's what you need to know: 1️⃣ Innovation in Payments: ➡ The evolution in payment methods, from mobile wallets to real-time transactions, demands that finance departments adapt to new payment processing systems and consumer interactions. ➡ With real-time payments becoming the norm, finance departments need to ensure seamless cross-border and B2B payment processes. 2️⃣ Emerging Risks: ➡ The rise of big tech and market concentration poses potential data abuse risks. Finance departments must prioritize data security and ethical data handling. ➡ New fintech business models challenge traditional regulatory frameworks, requiring finance teams to stay updated on compliance and risk management. 3️⃣ Ethical Use of AI & Data Analytics: ➡ Implementing ethical AI principles, such as human oversight and non-biased algorithms, is becoming a standard expectation. Finance departments must ensure that AI-driven decisions are transparent and fair. ➡ Rapid scalability of data analytics means finance teams need to be agile, especially when recalibrating AI models after market shifts. 4️⃣ Embedded Finance: ➡ The integration of financial services into various business activities is blurring the lines between traditional banking and tech-driven finance. Finance departments must be prepared to navigate this new landscape, balancing traditional practices with innovative solutions. Here are some actionable steps to stay ahead of the curve: 🔹 Embrace payment innovations and ensure your department is equipped to handle new transaction methods. 🔹 Prioritize data security and stay updated on fintech regulatory changes. 🔹 Implement ethical AI practices in all data-driven decisions. 🔹 Stay informed about the rise of embedded finance and its implications for traditional banking. How is your Finance Department adopting to the new trends in Financial Industry? #CFO #Finance #accountingandaccountants #financeindustry

🚀 Discover how trade finance is evolving through digitalization! In this insightful article, Finastra's Head of Trade & Supply Chain Finance, Iain MacLennan, delves into the rapidly changing landscape of global trade finance. He discusses the shift from static data to insight-driven systems, leveraging leading technologies and AI for compliance and scalability. 📖 Read the full article here: https://okt.to/jxzfFB #TradeFinance #Innovation #Agility #Fintech

Gone are the days of finance as just a back-office function; today, driven by tech advancements like automation, AI, and embedded payments, it's a revenue-driver and strategic partner. An astounding 92% of CFOs plan to invest more in finance tech, and embedded finance is emerging as the next big revolution. UNIPaaS stands at the forefront, offering a tailored embedded payment solution to supercharge growth and innovation for businesses. Learn how you can embrace the future of finance now! https://lnkd.in/eCMnCyBM #financerevolution #UNIPaaS #futureoffinance

Is the future of the global supply chain digital? The rise of digital trade finance platforms like 40Seas points in this direction. Founded by Eyal Moldovan, Gil Shiff, Igor Zaks, CFA, and Suki Gao, 40Seas is making waves by disrupting traditional trade financing solutions. Leveraging AI and data-driven technology, they've created a revolutionary platform that offers flexible B2B payment options, providing cost-effective, and accessible working capital for key players in the supply chain. But just how transformative could this be for the global supply chain? Explore our latest article to understand the magnitude of this new disruption in global supply chain! https://lnkd.in/eAu48BvM Join the conversation and tell us what you think about this digital inception in the supply chain finance! Is this the future? #DigitalTrade #Finance #GlobalSupplyChain #FinTech #40Seas #Disruption Startup/company featured: 40Seas Industries: Digital Marketing, Financial Services, FinTech Location: Tel Aviv, Israel Twitter: https://lnkd.in/eQkqdVDH Facebook: https://lnkd.in/enSB2zv9 Linkedin: https://lnkd.in/eyhRzspG

Versapay’s AI-powered cash application boosts efficiency by 69%, according to findings from its Total Economic Impact™ study. 📈 Dive into this article on Global FinTech Series to learn more about how this Ten Coves Capital PortCo is helping organizations streamline manual processes, reduce errors and significantly improve speed to cash. https://lnkd.in/gktFc62P #fintech #AI