{"id":44077,"date":"2021-03-14T10:08:03","date_gmt":"2021-03-14T10:08:03","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?page_id=44077"},"modified":"2024-08-21T09:48:52","modified_gmt":"2024-08-21T09:48:52","slug":"tradetech","status":"publish","type":"page","link":"https:\/\/www.tradefinanceglobal.com\/tradetech\/","title":{"rendered":"TradeTech"},"content":{"rendered":"\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"block-header-without-image d-flex flex-direction-column justify-content-center\">\n    <h2 class=\"fs-32 fw-700 fs-xs-28 not-for-table-content\" id=\"heading-tradetech\">\n        TradeTech    <\/h2>\n    <div class=\"d-grid grid-col-2 grid-col-xs-1\">\n                            <div class=\"\">\n                <div>Last updated on 21 Aug 2024<\/div>\n                <div>14 Mar 2021 . 1 min read<\/div>\n            <\/div>\n            <\/div>\n    <\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-600x243.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-372x151.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-450x182.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-380x154.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/TradeTech-285x115.jpg 285w\" sizes=\"auto, (max-width: 869px) 100vw, 869px\" \/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #f2f5f7 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-tradetech-overview\">TradeTech Overview<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/\">\n        Introduction to TradeTech      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/introduction-to-trade-digitalisation-tradetech\/\">\n        Technology in Trade      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/blockchain\/\">\n        Introduction to Blockchain      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<div class=\"wp-block-columns container w-auto country-quick-link h-100 mb-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #ebf5f4 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-technologies\">Technologies<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/cloud-computing\/\">\n        Cloud Computing      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/optical-character-recognition-ocr\/\">\n        Optical Character Recognition (OCR)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/application-programming-interfaces-api\/\">\n        Application Programming Interfaces (API)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/big-data-analytics\/\">\n        Big Data Analytics      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #e5f5ff !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-developing-technologies\">Developing Technologies<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/internet-of-things-iot\/\">\n        Internet of Things (IoT)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/artificial-intelligence-ai\/\">\n        Artificial Intelligence (AI)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/distributed-ledger-technology-dlt\/\">\n        Distributed Ledger Technology (DLT)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/quantum-computing\/\">\n        Quantum Computing      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #E6FAFE !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-resources-guides\">Resources &#038; Guides<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/research\/\">\n        TradeTech Research      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/tradetech\/itc-ai-guide\/\">\n        ITC AI Guide 2024      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/editions\/tradetech-whitepaper-2021\/\">\n        TradeTech Whitepaper 2021      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/editions\/blockchain-dlt-trade-guide-2020\/\">\n        WTO DLT Guide 2020      <\/a>\n      <\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"bg-light-blue d-flex gap-16 h-auto p-16 rounded xs-flex-direction-column\">\n    <div class=\"\">\n    <img decoding=\"async\" style=\"min-width:100px;max-width: 150px\" src=\"https:\/\/secure.gravatar.com\/avatar\/c5c7f46c74d085beb1f2c4863fc91b31?s=160&#038;d=mm&#038;r=g\" class=\"w-100 rounded\">\n  <\/div>\n  <div class=\"col-span-2 col-span-xs-1\">\n    <div class=\"d-flex flex-direction-column gap-16 fs-16 justify-content-between\">\n      <div class=\"fs-16 fw-700\">Deepesh Patel<\/div>\n      <div class=\"fs-14 fw-400 elipsise-2-line\" title=\"Deepesh Patel is Editorial Director at Trade Finance Global (TFG) and host of Trade Finance Talks. Deepesh regularly chairs and speaks at international industry events held by the IFC, EBRD, IMN, WTO, Financial Times and Economist Impact, as well as industry associations including ICC, FCI, ITFA, ICISA and BAFT.\">\n        Deepesh Patel is Editorial Director at Trade Finance Global (TFG) and host of Trade Finance Talks. Deepesh regularly chairs and speaks at international industry events held by the IFC, EBRD, IMN, WTO, Financial Times and Economist Impact, as well as industry associations including ICC, FCI, ITFA, ICISA and BAFT.      <\/div>\n      <div>\n        <a class=\"text-black fs-12 small-link-arrow-right\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/?author=57\">\n          <span>\n            Latest Post          <\/span>\n        <\/a>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-download-our-tradetech-whitepaper\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Download our Tradetech Whitepaper  <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Accelerating trade digitalization to support MSME financing<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='Editions-Tradetech-Whitepaper-2021' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-150x150.jpg' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-300x300.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-150x150.jpg 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-320x320.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-370x370.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-414x414.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-200x200.jpg 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-250x250.jpg 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-162x162.jpg 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-159x159.jpg 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-123x123.jpg 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021-190x190.jpg 190w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Editions-Tradetech-Whitepaper-2021.jpg 600w' \/>  <\/div>\n      <a href=\"https:\/\/www.tradefinanceglobal.com\/login\/?redirect_url=https%3A%2F%2Fwww.tradefinanceglobal.com%2Fwp-json%2Fwp%2Fv2%2Fpages%2F44077\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Download<\/span>\n    <\/a>\n    <\/div>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-content\">Content<\/h2>\n\n\n<div class=\"block-table-content h-auto bg-white auto\">\n    <ul class=\"table-content\"><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><div class=\"block-content align bg-tale rounded p-24 fs-16 h-auto wp-block-acf-block-content\"style=\"background-color: ;color: #002F4D;\"\n>\n    <p>Welcome to the TFG TradeTech hub. International trade and trade finance is going through rapid innovation, thanks to the advancement of both developed and brand new technologies. In the TFG TradeTech hub, we focus on how technologies affect the digitalisation of freight and transport, trade and customs and access to finance. TradeTech can help reduce some of the biggest challenges when it comes to paper documents, access to MSME finance and getting goods from A to B would be easier.<\/p>\n<\/div>\n\n\n<p><\/p>\n\n\n<div class=\"block-content align wp-block-acf-block-content\"style=\"background-color: #FFFFFF;color: #002F4D;\"\n>\n    <p><script src=\"https:\/\/fast.wistia.com\/embed\/medias\/we2ej11p03.jsonp\" async><\/script><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_we2ej11p03 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img decoding=\"async\" src=\"https:\/\/fast.wistia.com\/embed\/medias\/we2ej11p03\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"video\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tradetech-layers\">TradeTech \u2013 Layers<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"610\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-1024x610.jpg\" alt=\"\" class=\"wp-image-108819\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-1024x610.jpg 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-300x179.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-768x458.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-320x191.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-370x221.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-414x247.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-503x300.jpg 503w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-335x200.jpg 335w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-419x250.jpg 419w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-272x162.jpg 272w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-267x159.jpg 267w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-206x123.jpg 206w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1-285x170.jpg 285w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/Technologies-and-tradetech-by-layer-and-types-analytical-connectivity-data-input-and-infrastructure-scaled-1.jpg 1300w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"block-faq overflow-hidden h-auto py-10\">\n  <div class=\"container w-auto\">\n    <div class=\"d-grid grid-col-1 grid-col-xs-2 mb-24\">\n      <h3 id=\"heading-tradetech-frequently-asked-questions\" class=\"not-for-table-content fw-700 \">TradeTech \u2013 Frequently Asked Questions<\/h3>\n          <\/div>\n    <div class=\"d-grid grid-col-4 grid-col-xs-1 gap-24\">\n              <div class=\"d-flex overflow-x-auto hide-scrollbar xs-flex-direction-row flex-direction-column gap-24 list-question\">\n                      <div class=\"single-anwser active pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"What is the definition of TradeTech?\">\n                What is the definition of TradeTech?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>Trade finance technology, often abbreviated as TradeTech, refers to the use of technology, innovation, and software to support and digitally transform the trade finance industry. It is often considered to be a subcategory of the more widely used term, FinTech. TradeTech, which can include several technologies, puts a particular emphasis on the application of technology and software to modernise trade finance.<\/p>\n<p>These technologies include but are not exclusively limited to cloud computing, optical character recognition (OCR), internet of things (IoT), big data analytics, artificial intelligence (AI), quantum computing, distributed ledger technology (DLT) and application programming interface (API).<\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"Who uses TradeTech and what is its role in global trade?\">\n                Who uses TradeTech and what is its role in global trade?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>TradeTech can be used by any firm in the international trade ecosystem. While TradeTech applications are often developed by large banks or innovative technology companies, the applications themselves are not limited to this demographic.<\/p>\n<p>Many micro, small and medium enterprises (MSMEs), however, are often under the impression that technology is simply not for them and view it as complex and costly. This may be due to the idea that some digital trade technology solutions focus more on trying to explain the technology itself rather than simplifying the explanation and service offering to MSMEs, leading to a lack of audience engagement. Continual efforts to make MSMEs aware of the plethora of opportunities available to them are important. Governments may have a role to play in this respect to raise awareness and provide education for MSMEs.<\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"How has the COVID-19 pandemic impacted TradeTech?\">\n                How has the COVID-19 pandemic impacted TradeTech?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>The COVID-19 pandemic has rapidly accelerated the development and adoption of many TradeTech applications. Largely, these have come about as a result of a lack of physical employee presence at the usual places of business, coupled with the inability to print and transport documents. Operating under \u201cnormal\u201d processes has not been an option. To cope, banks have been forced to create or scale up ad hoc digital processes.<\/p>\n<p>Despite this firm-level acceleration, there have also been indications that many banks have not received significant meaningful support from government authorities to facilitate trade on digital terms. Nevertheless, the desperate necessity for paperless workarounds has set the industry on a digital course.<\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"Does TradeTech include data security?\">\n                Does TradeTech include data security?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>Absolutely. Given the vast amounts of data that exist today, data security must be treated as a top priority and subsequently exists at the heart of nearly every TradeTech application. For some, like distributed ledger technology, the security of data is at the core of their reason for being. <\/p>\n<p>For many firms, using TradeTech applications will go a long way towards boosting their data security. This is because TradeTech providers generally operate internationally. In order to do so effectively, the data security standards that they use to protect consumer data must meet the stringent requirements of every region they operate within. For most end-users, this means that their data will be protected to a standard greater than that legally required in their own jurisdiction.  <\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"What is the most prominent technology in trade?\">\n                What is the most prominent technology in trade?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>There is a complex interplay between all of the technologies used in trade. Each technology relies on the capabilities of others to deliver its most powerful benefits. Some of them work to collect and deliver data, others analyse and interpret this data, and still others provide the infrastructure which allows this communication to occur. Take, for example, the role of the internet of things (IoT) in this relationship. IoT devices and sensors on their own provide minimal value. However, when they are combined with the secure transmission capabilities of distributed ledger technology (DLT) and the analytical capabilities of big data analytics tools enabled by artificial intelligence (AI), they are able to deliver meaningful and actionable information.<\/p>\n<p>To name one technology as the most prominent would be like deciding which part of a car is the most important. One could argue the engine, or the brakes, or the tires \u2013 but it is safe to agree that the car is just better when it has all of these combined together. <\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"Why is technology in trade so underdeveloped relative to other industries?\">\n                Why is technology in trade so underdeveloped relative to other industries?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>Many of the cumbersome processes that exist in trade today have been developed to allow parties to a transaction to trust the outcome of the transaction even if they do not trust their counterparties. Considering that the counterparties are often on opposite sides of the globe and operating in vastly different legal systems, it has been critical to thoroughly develop robust instruments that both parties trust to facilitate these transactions. <\/p>\n<p>Until recently, the technological tools that could be used simply did not suffice in facilitating this trust \u2013 meaning that they were just not good enough to replace the paper processes that were already in place. This led to several decades of technological progress in other industries that effectively bypassed international trade.  <\/p>\n<p>Today, however, with advancements in technology such as distributed ledger technology (DLT), it is finally possible to trust digital mechanisms in lieu of their paper counterparts that have been in use for so long.  <\/p>\n<\/div>\n                          <\/div>\n                      <div class=\"single-anwser  pointer bg-anti-flash-white border-radius-12 p-24\">\n              <h4 class=\"fs-20 mb-0 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"How can TradeTech help inform trade policy?\">\n                How can TradeTech help inform trade policy?              <\/h4>\n              <div class=\"detail-anwser d-hidden fs-16\"><p>Most current national regulations do not allow most TradeTech solutions to be widely adopted. This stems from legal concerns, such as the ambiguity of Uniform Customs and Practice for Documentary Credits (UCP) rules, which do not specify whether digital tools such as artificial intelligence (AI) can be used in lieu of humans. As increased developments and proofs of concept demonstrate the efficiencies and power of TradeTech, policymakers around the globe will be forced to modernise their nation\u2019s policy or sit idly by as the global economy moves on without them. <\/p>\n<p>The United Nations Commission on International Trade Law (UNCITRAL) has already developed a model law that would create an enabling regulatory framework recognizing e-signatures and e-documents \u2013 the Model Law on Electronic Transferable Records (MLETR).  The UNCITRAL MLETR has already been adopted by 2 countries \u2013 the Kingdom of Bahrain and Singapore. Its adoption by the broader global community is critical to the continual development of TradeTech solutions. <\/p>\n<\/div>\n                          <\/div>\n                  <\/div>\n        <div class=\"col-span-3 col-span-xs-1 detail-anwser-block hide-scrollbar bg-tale rounded p-24\">\n          <h4 class=\"fs-20 fw-700 elipsise-2-line detail-question not-for-table-content\" title=\"How can TradeTech help inform trade policy?\">\n            What is the definition of TradeTech?          <\/h4>\n          <div class=\"detail-anwser fs-16\"><p>Trade finance technology, often abbreviated as TradeTech, refers to the use of technology, innovation, and software to support and digitally transform the trade finance industry. It is often considered to be a subcategory of the more widely used term, FinTech. TradeTech, which can include several technologies, puts a particular emphasis on the application of technology and software to modernise trade finance.<\/p>\n<p>These technologies include but are not exclusively limited to cloud computing, optical character recognition (OCR), internet of things (IoT), big data analytics, artificial intelligence (AI), quantum computing, distributed ledger technology (DLT) and application programming interface (API).<\/p>\n<\/div>\n          <a href=\"\" class=\"detail-link text-black fs-12 small-link-arrow-right text-right mr-0 d-hidden\">\n            <span><\/span>\n          <\/a>\n        <\/div>\n          <\/div>\n  <\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n\n\n<p><\/p>\n<\/div>\n<\/div>\n\n\n<div class=\"modules w-100 partners-sponsor container py-10\">\n  <div class=\"d-grid grid-col-8 grid-col-xs-1 grid-col-sm-4 gap-1 max-w-100 py-50\">\n    <div class=\"col-span-2 col-span-xs-1 col-span-sm-1\">\n      <div class=\"d-grid 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Layers<\/p>\n","protected":false},"author":57,"featured_media":110548,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"footnotes":""},"categories":[11038,2711],"class_list":["post-44077","page","type-page","status-publish","has-post-thumbnail","hentry","category-hub","category-tradetech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TradeTech 2023 | The Tech Megatrends in Trade Finance<\/title>\n<meta name=\"description\" content=\"[UPDATED 2023] TradeTech (aka Trade Tech or Trade Technologies) is a set of technologies which are disrupting the digitalisation of global trade and trade finance. 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