Transaction banking's trailblazers
Driven by changes in technology and many new entrants to the business, transaction banking is no longer a boring, old, but stable revenue earner, chugging along in the background. Instead, trade finance and cash management are becoming an exciting and critical area of banking.
Distributed-ledger technology is transforming trade finance. Cryptocurrencies and tokenization will lead to quicker money transfers to meet the demands of treasurers who require instant access to cash. And competition is heating up as fintechs, techfins and banks all scrabble for a piece of the pie.
Leading the charge is a set of bankers and corporate treasurers that has questioned the status quo and catapulted trade finance and cash management into the modern age. Here Euromoney profiles 10 such trailblazers who are driving the sector’s developments and asking why things haven’t gone further.
This is no list of senior bankers who have transformed the business, nor is it a list of young, up-and-coming bankers and treasurers who will eventually assume leadership.