While banks have accelerated digital solutions across business lines, accomplishing end-to-end digitalization of global trade remains far beyond their reach. The complexity of supply-chain finance remains a challenge, and banks continue to hunt for scalable solutions. Embedded finance could be the answer.

The inability of trade-finance participants to fully leverage the value of the data generated by transactions remains a source of frustration, particularly for small businesses.

Banks may be retreating from lending directly to small and medium-sized enterprises, but by lending to credit specialists with good technology they can still be a source of funding for the sector.

At SIBOS, Mark Monaco, head of global payments solutions at Bank of America, pulled back the curtain on the strategies driving the bank’s leadership in an exclusive interview with Euromoney. “Success has three ingredients: people, process and technology,” Monaco shared on the bank's ability to stay ahead in an ever-evolving industry.