Next up in our “Meet the Team” series is Joon Kim, Global Head of Trade Finance and Portfolio Management for Treasury Services. He talked about current trends, the evolution of trade finance and the importance of selecting the right correspondent bank. An excerpt of our conversation is below.
Where are the growth opportunities in Trade Finance?
The greatest growth opportunity within the Trade Finance landscape is what we call emerging market or south to south. International trade is where we see the greatest growth potentials- so that’s why we have a strategic location and trade processing centers specifically focusing in on the APAC region. In terms of the regions as well as the industry many different industries have different requirements when it comes to trade.
Asia is still historically one of the greatest growth, where the opportunities we think is out there, however, the banks in Asia as well as the corporates in Asia are settling trade transactions in a different means. So there are different components of trade instruments that banks offer. So I would say the industry, specific industry vertical differentiation is very important and in terms of how banks play within the trade landscape – when you look at the trade value chain – every region, country has unique needs and that’s what we need to define and, and creating the opportunities and meeting the clients’ needs there.