Problem Statement 2

Trade Finance Inclusion for SMEs

SMEs still have only limited access to trade finance, mostly because of data gaps or data silos. Increasingly, technology-driven approaches are being developed to bridge these gaps and break the silo structure, and thereby improve SME access to trade finance. The aim of this part of the TechChallenge is to improve trade finance inclusion for SMEs through technology, including through tech-driven SME risk-profiling, trade authenticity verification and fraud risk assessment. Possible technology solutions could include or combine amongst others -

 

  • novel technologies such as those based on internet of things (IOT), artificial intelligence (AI), machine learning (ML), federated learning, blockchain/ DLT or quantum computing;

  • leveraging non-traditional data such as logistics data (e.g. IOT data for trade authenticity), e-commerce data (e.g. trust scores), mobile payment and other transactional data;

  • a platform-based approach connecting different data sources (e.g. credit, accounting, banking, transaction, and non-traditional data) enabling public and private sector participants to improve SME risk-profiling, trade authenticity verification and fraud risk assessment;

  • a platform-based approach connecting SMEs to the financial institutions in the LEI database or connecting SMEs to large counter-parties to increase access to trade finance.

Thank you for your interest! Submissions are now closed. 

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TechChallenge

Digitising Trade Finance

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