Finverity to address $1.5trn trade finance gap at GTR MENA on 17 February 2021

  • Finverity's CEO to speak at GTR MENA conference on 17 February 2021
  • Digital deal room will showcase digital supply chain finance programme for corporates and funders

15th February 2021 – London. Finverity, the cross-border supply chain finance platform, is pleased to announce its co-founder and CEO, Viacheslav Oganezov, will be speaking at Global Trade Review MENA, the largest trade and export finance conference in the Gulf Region and export finance conference, on 17 February at the 11:00 am session:

“Better together: can technology and innovation help close the trade finance gap?”

The session will consider how a three-pronged collaborative approach involving technological innovation, new regulatory priorities in the role of government and multilateral support can play a role in reducing the current $1.5 trillion trade finance gap and supporting trade growth.

Moderator: Vincent O’Brien, Member, Executive Committee, ICC Banking Commission

The significant unmet demand for trade and supply chain finance globally has been well documented and showed no signs of improving even before the pandemic. The Asian Development Bank estimates the global trade finance gap now stands at US$1.5 trillion, with the pressure on SMEs perhaps the most acutely felt. The World Economic Forum forecasts that the trade gap could rise to US$2.5trn by 2024, a forecast made before the start of the COVID-19 pandemic. The trend is likely accelerating as the pandemic and trade conflicts prompt further reshuffling and nearshoring.

Viacheslav Oganezov, Co-founder and CEO, Finverity, commented: “This is an incredibly exciting time of opportunity for supply chain finance, which has been supercharged by current market conditions. The demand for this type of financing has grown from the corporate side due to the Covid-19 pandemic-related shock. At the same time, funders are increasingly looking for stable and uncorrelated yield alternatives given the almost negative interest rates and negligible yields offered by traditional fixed income. This is leading to an influx of capital into this growing asset class. Yet, technology is needed to effectively match demand and supply, operate the transaction efficiently via automation and provide transparency into the underlying assets. We look forward to discussing these issues at GTR MENA and welcoming corporates and funders to our digital deal room.”

Finverity will be operating a digital deal room at GTR MENA, which will demonstrate to funders a snippet of MENA-based supply chain finance deals available to fund on the Finverity platform and allow corporates to submit their funding requests.

For complimentary registration to GTR MENA please click here


Notes to Editors:

About Finverity

Finverity is a supply chain finance platform connecting mid-market companies in ‘developed’ emerging markets in need of optimizing their working capital with institutional funders seeking access to this asset class. It provides an efficient and scalable end-to-end process to fund supply chain finance deals across the world.

The platform acts as an origination pipeline, quality control mechanism and servicing facility for supply chain finance. In order to guarantee the highest quality deal flow and streamline funders’ own due diligence all of the deals on Finverity pass internal due diligence and structuring processes before being made available for investment. Our award-winning technology automates most back and middle office tasks post-deal approval to provide full servicing capabilities, which are also available to service funders’ existing transactions that they wish to bring to the platform. Finverity also offers corporates a range of additional operational benefits beyond financing, allowing them to secure quality financing origination.

Finverity aims to close the $1.5 trillion funding gap in global trade finance left by banks’ withdrawal from the sector. By focusing on technology solutions, we make supply chain finance for mid-market companies economically viable worldwide and allow a wider pool of funders to participate in this asset class by relying on Finverity’s infrastructure.

www.finverity.com

About GTR MENA

GTR MENA returns in 2021 as a hybrid event, offering an extended offering as the region’s leading gathering for networking and knowledge sharing, with a virtual event on February 15-17 and a physical event on September 22.

For nearly 20 years GTR MENA has covered critical market insight and provided excellent networking opportunities with leading experts from the region. The highly anticipated virtual event will encompass all the key aspects of a live GTR conference experience in a digital format, combining a mixture of live-streamed and pre-recorded content, plus networking opportunities via GTR’s dedicated virtual event platform, whilst the September event will include an extensive programme, full exhibition and that much-missed opportunity for participants to network in-person and connect with key experts, industry peers and potential clients.

Both events will dive into the most pertinent discussion topics impacting the MENA trade and export finance industry, the rapidly changing dynamics in a turbulent global economic landscape, challenges faced and the bountiful opportunities available for those doing business in this exciting and dynamic region.

GTR MENA 2021 Virtual

About supply chain finance

Supply chain finance, also known as reverse factoring or payables financing, is a process whereby a buyer partners up with a funder and/or technology provider to offer early payment to suppliers. Finverity’s platform automates a large portion of the tasks needed to run these types of facilities at scale, thereby enabling the participation of smaller companies and a larger pool of alternative funders.

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Posted by Radek Vanis

Chief Marketing Officer at Finverity