Robert Meters is Director of Global Business at SCHUMANN. He studied Business Administration and International Management at the University for Economics and Management in Düsseldorf and Essen. He has been in the credit risk management industry since 1993 and has worked for leading information service providers as well as in the telecommunications industry. He advises and takes care of customers in the automation of credit risk management for the financial services sector with excellent references in leasing, factoring, banking and trade credit insurance.
HSBC Honored with Euromoney Award
Receivables Finance is one of the products besides letter of credit business and trade loans business. In a concrete customer example, John Beaney impressively describes the combination of of good banking practices and the the digital journey.
Digitalisation is vital in trade finance. HSBC´s customers want self-serve and work with HSBC efficiently. Furthermore, it is also important to have interfaces with people when they have to make strategic decisions or face challenges.
One of the more comprehensive market developments is the "Electronic Documents Act" in the United Kingdom, an important piece of legislation. 28 billion commercial transactions that are processed with physical pieces of paper can be carried out digitally in the future, with a significant impact on sustainability and customer satisfaction, and better process speed and efficiency. It will also open up new financing opportunities.
John Beaney uses selected examples to explain the opportunities and expectations on the digital path and shows differences in digital data availability in different regions of the world. There is undoubtedly a huge demand for working capital, which can be met by a bank with a high level of expertise in working capital using modern digital solutions in collaboration with technology partners. The collaboration with these is very fruitful and has wonderful potential.