Digital negotiable instruments – secure digital forms of recognised instruments of global trade, such as promissory notes and bills of exchange – are increasingly supported by multi-bank portals. Will single-bank portals follow suit?
Samuel Mathew, global head of flow and financial institution trade at Standard Chartered, says truly open and interoperable systems are needed to allow digital assets such as DNI tokens to move to any party with a wallet with any provider.
“Service providers and industry standards will play a vital role in the integration of DNIs with bank and corporate back-office platforms as there will be a limit to how many of these ecosystems banks can join,” he adds.
For now, most tools that financial institutions could potentially integrate into their front- or back-office platforms – or that corporates may consider integrating with their enterprise resource planning systems – are standalone, says Heather Crowley, managing director, global head of supply-chain finance...
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