Nearly 90% of global trade relies on trade financing — helping to protect buyers and sellers in the international marketplace. By using a blockchain-enabled platform, the London insurance market is making it possible for more companies to access working capital.
Trade finance programmes give companies access to capital, allowing them to improve their payment terms with their suppliers and clients. However, managing global invoice payments can be time consuming across many jurisdictions and currencies. The London insurance market is using its appetite for innovation to make it easier for companies to benefit from distributed ledger technology to give real-time visibility for managing customer terms and credit risk.