Problem Statement 3
TradeTech for Emerging Markets
The trade finance gap is particularly acute in emerging markets. Many such markets do not yet benefit from tech-driven trade networks and platforms. Accordingly, these markets could greatly benefit from low-cost or open-sourced technology that leverages common standards (e.g. ISO20022, UCP600, etc.) to deploy trade finance applications. These applications could connect to jurisdictional infrastructures, such as automated single windows or implementations of the ASYCUDA software developed by the United Nations Conference on Trade and Development (UNCTAD). The aim of this part of the TechChallenge is to develop technology solutions that support trade finance functionalities for emerging markets. Possible technology solutions could include amongst others -
low-end mobile devices with intuitive user interfaces that feature connectivity to public and private trade infrastructure;
technology solutions that facilitate the development of open data and API standards;
a platform-based approach that leverages the automated single window of one or more jurisdictions to connect to B2B services, such as trade finance;
open-sourced technology solutions that support the establishment of national trade finance platforms.
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