‘Open by default’ - Finastra’s Iain MacLennan on partnerships, digitalisation, and helping SMEs triumph in uncertain times

2022-03-14

The last two years have been a difficult time for SMEs, who have had to grapple with the challenges of supply chain disruptions, a global credit crunch, and inflation during the COVID-19 pandemic. But despite the uncertainty and volatility of the last two years, SMEs’ working capital practices have evolved significantly, and perhaps irreversibly. Though the global trade finance gap has continued to make new highs, hitting $1.7 trillion in 2020, both SMEs and the banks that serve them are ...

The last two years have been a difficult time for SMEs, who have had to grapple with the challenges of supply chain disruptions, a global credit crunch, and inflation during the COVID-19 pandemic.

But despite the uncertainty and volatility of the last two years, SMEs’ working capital practices have evolved significantly, and perhaps irreversibly.

Though the global trade finance gap has continued to make new highs, hitting $1.7 trillion in 2020, both SMEs and the banks that serve them are now focusing on new ways to access much needed capital.

At the forefront of this challenge is digitalisation, which in trade finance is driven by a mixture of new technologies and partnerships that aim to increase efficiency and reduce costs.

But where does the industry currently stand on the challenge of digitalisation, and how much closer are we to the ambitious goal of frictionless, borderless trade finance?

Joining TFG's Deepesh Patel to discuss is Iain MacLennan, head of trade and supply chain finance at Finastra.

Read more here: https://www.tradefinanceglobal.com/posts/podcast-open-by-default-finastras-iain-maclennan-on-fintech-partnerships-digitalisation-and-helping-smes-triumph-in-an-uncertain-macro-world/

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