Fourteen banks are supporting a trade finance standardisation plan intended to encourage prospective investors beyond the core banking sector to get involved . Launched by Tradeteq , the Trade Finance Distribution Initiative ( TFD ) will begin by prioritising creating common data ##sets and definitions to improve operational productivity and risk management . Ultimately it is aiming to create a worldwide network that utilises technology to facilitate simple transactions and transactions , making trade finance more appealing to outside parties . companies participating in the initiative include ANZ , Credit Agricole CIB , Deutsche Bank , HSBC , ING , Lloyds Bank , Rabobank , Standard Bank , Standard Chartered Bank and te Mitsui Banking .
Fourteen banks are supporting a trade finance standardisation plan intended to encourage prospective investors beyond the core banking sector to get involved. Launched by Tradeteq, the Trade Finance Distribution Initiative (TFD) will begin by prioritising creating common data standards and definitions to improve operational productivity and risk management. Ultimately it is aiming to create a worldwide network that utilises technology to facilitate simple interactions and transactions, making trade finance more appealing to outside parties. Banks participating in the initiative include ANZ, Credit Agricole CIB, Deutsche Bank, HSBC, ING, Lloyds Bank, Rabobank, Standard Bank, Standard Chartered Bank and Sumitomo Mitsui Banking.