Could technologies such as blockchain and AI bring greater diversity to the trade finance industry?
The technologies that are changing the way trade finance is delivered could level the playing field for both those women who deliver the funding, as well as those receiving it. Or could they? Speakers at the third London-based GTR Women in Trade Finance event in December debated the issue at length.
It’s no secret that there are currently fewer women than men in top trade finance management positions. But the advent of fintech could mean that women have a real opportunity to become leaders in the space because it’s not yet an entrenched “boys’ club”. Technological disruption may indeed be necessitating the importance of driving more diversity into the trade finance space – because a new way of doing business demands fresh talent to drive the change.
What’s more, in the relationship-centric world of trade finance, which frequently excludes women, technology could attenuate the importance of these interpersonal relationships.
In the video, we caught up with Louise Beaumont, co-chair of techUK’s open bank working group, Alisa DiCaprio, global head of research at fintech firm R3, and Beatrice Collot, head of global trade and receivables finance at HSBC France, to find out how technology can – and cannot – drive gender diversity in the industry.