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The platform, dubbed eTrade Connect, aims to improve efficiency in the financing of international trade by reducing the time needed to approve trade loan applications from thirty-six to just four hours. HSBC is reported to have earned $2.52 billion in trade-finance revenue in 2017, making it one of the global banking leaders in the industry.
As of 2017, trade finance transactions were worth over $9 trillion, and the industry remains heavily reliant on legacy systems and cumbersome paper-based systems, according to Reuters.
The eTrade platform digitizes trade documents and automates many
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