TECH BUYER Mar 2020 - IDC MarketScape - Doc # US43482018
IDC MarketScape: Worldwide Trade Finance Systems 2020 Vendor Assessment
By: Thomas ZinkResearch Director, Daniel Garcia, Karel PlevaProgram Director, IDC Financial Insights
This IDC MarketScape presents a 2019/2020 assessment of eight vendor companies providing trade finance solutions to the corporate banking sector. This research is a quantitative and qualitative assessment of the characteristics that explain a vendor's ability to enable trade financers to drive efficiencies and business in this increasingly fast-moving environment. The evaluation is based on a standardized and comprehensive framework and a set of parameters expected to be most conducive to success in providing trade finance services in the short and long term. General market perception and technology buyers' perception of a vendor's current capabilities as well as its attitude to innovation to help corporate banks remain sustainable in an extremely challenging marketplace are key components of this evaluation.
"While the trade finance industry arguably hasn't changed much in decades, a sea change is now upon the industry. New trade finance systems are turning into platforms built on Java, are API enabled, and focus on digitization and automation. The main differentiators are no longer the range of supported products, but effectively the system's ability to keep pace with regulatory and Swift changes, the use of emerging technologies, and ease of implementation and integration with third-party systems," said Tom Zink, research director, IDC Financial Insights.
Turaz Global S.à r.l., Comarch SA, ICS Financial Systems Ltd., Surecomp International Ltd., Commercial Banking Applications SA, Nanjing CS Software Technology Inc., Intellect Design Arena Ltd., CGI Group Inc.
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