Geopolitical events and a volatile and challenging economic climate still reverberate around the world as central banks attempt to ease inflationary pressures while the threat of global recession looms. In the past year financial institutions have started to look beyond conventional ways of doing business, although a continuing reliance on traditional, over-provisioning models of legacy banking systems is slowing this transformation. With the trade finance gap at US$1.7tn and still growing, supply chain finance providers, among others, face a colossal task to support their clients in these stranger-than-fiction times. To rebuild a foundation for success in the new paradigm, the receivables finance industry must increase resilience and discover new ways to grow.
