GTR US 2020 Virtual: A New Approach to the United State’s Leading Trade and Supply Chain Financing Conference

At Export Portal, we know how important it is to stay informed about the latest developments in international trade to pass off the information to you. We recently attended the GTReview US 2020 Virtual conference and found it both insightful and interesting. The conference focused on the key themes of geopolitics and trade, AI and machine learning, digital trade finance, sustainable business, and financial crime prevention. These themes are integral to what we do on Export Portal, so we found this event to be particularly relevant.

Geopolitics and Trade

On geopolitics and trade, the GTR conference and speaker Christine Mcwilliams of Citi discussed the “perfect storm” of 2020 and its impact on global commodities markets and international finance. Export Portal has weathered this storm and provides our users with the support they need to get through these unprecedented times. Check out our response to the economic downturn here.

AI and Machine Learning

There were many discussions about AI and machine learning and how it’s changing the international trade landscape, but the “Transforming trade finance through AI and intelligent automation” session stood out the most. Considering AI and automation user-cases from both procurement and banking perspectives, this session identified the potential for greater visibility and efficiency throughout the corporate supply chain and the financial product development potential in the field of trade payables, receivables, and securitization. With our proprietary blockchain technology and intelligent data, Export Portal is on the cutting edge of this industry’s technology. Additionally, our EPP (Export Portal Payments) portal uses end-to-end blockchain encryption and automation to ensure security for all parties involved.

Digital Trade Finance

Since this conference’s title focuses on trade and supply chain financing, this topic was heavily discussed by some of the most prominent and influential players in this field. The session we found most interesting was the “Build vs. buy – what to consider when looking for a working capital solutions platform” session, led by Steven van der Hooft, CEO and Founder of Capital Chains. Andrew Holmes of Demica and Daniel Son of the US Bank discussed the key drivers behind the decision to build, upgrade, or buy trade finance solutions, as well as the importance of controlling your product development process. Our capital solutions platform, SMEF (SME Financing), is our solution to the USD$1.4 trillion global trade financing deficit (WTO) for SMEs, who lack access to funds for various reasons. We provide our users with a direct connection to financiers who can provide them with favorable financing options.

Sustainable Business

In today’s world, sustainability is on everyone’s mind. International trade is the latest industry to have an influx of sustainable solutions, and this is something we at Export Portal find necessary for our industry’s longevity. The “Sustainable trade – where there’s a challenge, there’s opportunity” session discussed the potential benefits of sustainable trade leadership and how to measure supply chain sustainability. It’s ultimately a question of price versus profit and whether or not early adopters are seeing bottom-line benefits – which they are starting to. At Export Portal, we believe financial incentives for sustainable trade should be introduced, which is a significant way to impact our climate.

Financial Crime Prevention

One of Export Portal’s top priorities is safety and the prevention of cybercrime. Therefore, the “Financial crime prevention – beating the compliance crunch” session held particular interest for us. Moderator John Basquill of the GTR and panelists Jake Jacobson of EY US, Nirjhar Daripa of Accuity, Justin Ross of FedEx, and Simon RIng of Pole Star discussed the complexity of international sanctions programs. They also talked about how the increasingly sophisticated techniques used to evade them combine with internal operational and budgetary challenges to create a resource crunch for those responsible for trade and financial compliance. This session considered some of the fresh compliance challenges emerging during the pandemic and the tools enabling trading entities and their financiers to ‘do more with the same.’ We were able to gather some new ideas for continuing our mission of being the most secure place to trade internationally online.

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