Banks to increase trade finance tech spending but geopolitical risks loom

A growing number of banks surveyed by FIS plan to increase spending on technology next year, as efforts accelerate to upgrade trade finance platforms and incorporate artificial intelligence.  Financial technology giant FIS says just over half of 200 banks quizzed expect their technology budget to increase over the next year, with improving operational efficiency and customer experience cited as the two top priorities for trade finance platform i…

55% of global banks plan to increase spending on trade finance platforms - Credit Connect

Banks are accelerating their investment in trade finance technology to unlock growth, according to research by FIS. The research found that over the next 12 months, 55% of global banks surveyed plan to increase spending on their trade finance platforms. For all survey respondents, key priorities include improving operational efficiency (28%), enhancing customer experience (28%), and upgrading existing product functionality (15%). This focus refl…