Navigating supply chain disruptions for banks

Banks need to enhance their digital capabilities so that firms can quickly receive trade financing support, without the need for physical interaction.

Published Mon, Jul 6, 2020 · 09:50 PM

Supply Chain

The Covid-19 pandemic is expected to have a prolonged impact on our lives.

According to the World Trade Organization, the year 2020 could see the worst collapse in international trade since the Great Depression, with a decline of between 13 and 32 per cent. Sectors such as automotive, construction, retail and logistics have faced the brunt of the impact so far, as cities around the globe entered into varying degrees of lockdown. Though some of the measures have since been rolled back, many businesses continue to remain deeply impacted by continued disruptions to supply chains and less active trade corridors.

Supportive policy responses from global governments in the form of fiscal relief and grants have provided a lifeline. But the prolonged nature of this crisis continues to threaten the survival of businesses and the industries they operate in. Those with the financial muscle to weather the storm ha…