The digital platform Trade Club Alliance is expected to accelerate international trade by tackling trade barriers
Image: Fourteen global banks form new trade alliance. Photo: Courtesy of Pete Linforth/Pixabay
Fourteen partner banks have come together for the launch of Trade Club Alliance, a digital platform to help businesses grow in global trade.
The Trade Club Alliance is expected to identify businesses that are looking to trade goods internationally and will provide insight on regulations and trade tariffs for relevant countries.
It will also provide members with market information from more than 180 countries including currency analysis, market trends and shipping requirements, serving as a conduit for trusted buyers and suppliers to connect with counterparts in markets around the world.
The fourteen partner banks that have participated in the Trade Club Alliance include Abu Dhabi Commercial Bank, Attiijariwafa Group, Banco BPM, Banco Santander, Royal Bank of Canada, CIMB, Crédit Agricole Group, Eurobank, KBC Group, Industrial Bank of Korea, MUFG, Nordea Group, Siam Commercial Bank, and Standard Bank.
Trade Club Alliance chairman Jon Barañano said: “The launch of the Trade Club Alliance marks the start of a relationship for businesses with their banks that is more than simply as a finance provider – but as a strategic business partner who guides them through the labyrinth of international trade.
“This transformative trade platform will strengthen existing ties and revolutionise the way businesses seek opportunities in new markets.”
The Trade Club Alliance could offer benefits such as the use of machine learning and cloud-based services with quality social networking capabilities, comprehensive content and corporate banking advisory to businesses.
The alliance is claimed to help in speeding up the exchange of goods and services by uncovering ideal trade partnership opportunities and could also simplify the transaction processes.
Banks participating in the alliance are expected to make ‘Experts & Community managers’ teams available to offer advice businesses at all stages during exporting and importing activity and financing alternatives.
The alliance will also make available more than 25,000 market reports from across 186 countries, along with 2,000 directories from 150 countries, 40,000 commercial fairs and 1,000,000 international tenders and will manage databases from over 120 countries. Weekly and monthly reports on conversions of 147 currencies will be made available.
Santander Banks claims to have developed the initiative for the Trade Club Alliance back in 2015 to connect European and Latin American businesses. After the success of the programme, it was rolled out worldwide and the alliance was formed.
Majority of global trade corridors are expected to be covered by the platform in the near future
By 2022, it is estimated that more than 90% of global trade corridors will be covered by the platform, helping more than a million companies across the world.
Banco Santander senior executive vice president and global payment services head Javier San Félix said: “Only by coming together we can create tangible and sustained growth overseas for all our clients. Through Trade Club Alliance’s combination of human connection and tech innovation, our clients can access a world of new opportunities.
“They can forge genuinely trusted relationships in new markets and have the latest trade tools and expertise at their fingertips. This is just the beginning of a deeper and better alliance to support our customers.”