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Comment: Commerce's best kept secret exposed
10 December 2008
Olivier Berthier, solutions director for transactional banking at Misys, comments on the impact of the credit crunch and subsequent crisis on trade finance and where it may lead the industry.
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Misys global transaction banking trade services finance solutions supply chain
Olivier Berthier, solutions director for transactional banking at Misys, comments on the impact of the credit crunch and subsequent crisis on trade finance and where it may lead the industry.
For years, trade finance has quietly gone about its own business providing the essential oil that keeps the cogs of commerce turning. It was never a dinner party topic and few people outside the industry had even considered it, until excessive lending and the ensuing credit crunch has thrust trade finance into the limelight. There are two side effects of this, on the one hand industry better understands the importance of trade finance, but the credit crunch has also increased the cost of trade finance creating in many industries the semblance of a house of cards, where the smallest break in the supply chain could have a huge effect on many.
Whilst the world was trying to understand what was...
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