Polish Trade Finance Symposium 2024 Summary

Digital Trade

Poland is at the forefront of trade finance digitalisation in Europe, with over 50% of bank guarantees issued electronically using qualified electronic signatures. BNP Paribas Bank Polska highlighted that over 90% of the bank’s guarantee applications in the country are processed online, although personal interactions remain essential for complex requests.

ESG

ESG can no longer be ignored. EcoVadis shared insights on integrating ESG and sustainability into supply chain finance, highlighting the benefits of these practices. The discussions underscored the growing importance of sustainability in trade finance and the fact that ESG compliance is no longer a nice-to-have – regulation is coming and it is vital to stay ahead of the curve.

AI in Trade Finance

AI integration is rapidly accelerating in trade finance, enhancing automation and risk decision-making. While showing promise in AML and document checking, advanced AI tools are still in the pilot phase, requiring further industry development.

Closer Collaboration

Interoperability remains distant. Despite digital efforts and MLETR, efficient trade finance operations and global e-invoicing are hindered by local nuances. Collaboration among banks, fintechs, governments, regulators, and corporates is essential for progress.

Human connections

People remain crucial. Despite technological advances, it is people who drive trade. The event's networking opportunities highlighted the importance of bringing industry participants together to forge connections, exchange ideas, and collaborate on innovative solutions.