Do letters of credit have a future in the current economic landscape?

Letters of credit are holding up as trusted international financial trade instruments.

Digital solutions exist to help financial institutions adopt digital back office operations for processes such as bills of lading and negotiable instruments. These technologies, such as blockchain, can eliminate the need for paper documentation and manual processes by offering a safe and transparent method of recording and validating transactions.

This whitepaper examines the role and importance of the documentary landscape for trade finance and what it means to leverage the latest technology within the trade ecosystem.

Included in this Contents

• The effects of economic uncertainty on documentary trade.
• How have letters of credit fared since the last economic crisis?
• Digitization of trade finance: The state of play.
• Do letters of credit need to be redefined?
• Looking to the future.

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