EXCLUSIVE: “Oiling the Cogs” – Featuring Finastra and Contour in ‘The Paytech Magazine’

It has never been so important to facilitate the movement of international trade finance, argue Finastra’s Michael Vrontamitis and Joshua Kroeker from Contour. Decision-makers in most major economies are on the horns of a dilemma in which they are raising interest rates to curb inflation while simultaneously trying not to tip their country into recession by dampening […]
Sibos Spotlight: Collaboration is key to driving progressive finance

The theme at this year’s Sibos was Progressive Finance for a Changing World. There was a lot of excitement and buzz about this topic as a lot has changed in the industry over the last few years. The energy was very vibrant in Amsterdam – thousands of meetings and events took place throughout the four […]
Standards, solutions and supply chains: How digitisation is fuelling the future of the oil trading industry

Digitally transforming trade finance in the oil industry is a tremendous opportunity, but how does the sector overcome the obstacles and jump on board the opportunities? Here are some industry insights from a recent Energy Trading Week webinar. Oil is the world’s most important source of energy. The oil industry is also a major contributor […]
Trade finance digitisation: Why the focus should be on the journey and not the finish line

When it comes to the digitisation of trade finance, the industry is often fixated on the momentum and when we’ll get to the finish line. While there are obstacles, there are also opportunities for both corporates and banks to get on board the digitisation bandwagon. Here is a summary of the views of industry insiders […]
How Contour is leading digital asset innovation in trade finance

Much of the media’s focus on digital assets is on cryptocurrencies, which have been characterised by intense volatility and crypto exchanges closing and investors losing their funds. But the potential of digital assets goes beyond cryptocurrencies, which is just one aspect of this new asset class. A good place to start is by defining what […]
Industry Perspectives: Why digital trade is set to surge across the Middle East

Across the Middle East, financial institutions, fintech companies and regulatory bodies have taken steps over the past couple of years to accelerate a shift towards the use of digital trade solutions. Both Bahrain and Abu Dhabi have adopted legislation that gives electronic documents the same legal standing as their paper-based counterparts, tackling a key problem […]
Cultivating Culture: Here are 3 ways we are doing it

It’s no secret that a strong and positive workplace culture drives company success. How exactly is Contour shaping its culture and what are the key metrics it uses for success? Sarah Rebello, Contour’s Head of People, shares the top 3 ways the fintech is cultivating culture. Two months ago, I joined Contour as our new […]
How Contour is sustaining the future of global trade

Small and medium-sized enterprises make up about 90% of businesses in the world, however, many struggle to access trade finance. When it comes to closing the trade finance gap, banks—specifically those with deep understanding of their local business communities, can be the missing piece of the puzzle. Trade finance is about risk and providing working […]
Contour’s Decentralized Network Streamlines Global Trade Finance by Digitizing Letters of Credit

Globalization depends on banks and corporations employing digital technology to make trade more efficient. Lessening structural and financial constraints on global trade enables more businesses to participate and builds a stronger, interconnected global economy. International transactions are more complex than typical face-to-face exchanges because distance and national borders separate importers and exporters. Importers would prefer […]
The trade digitalisation journey – innovation at Contour

TFG’s Deepesh Patel met with Contour’s CEO, Carl Wegner, and Chief Product Officer, Josh Kroeker, to discuss their approach to innovating in the trade finance space.Any transition is a journey. A journey from the present to an idealised future state, following the long, winding, and often foggy path connecting the two. To make progress, someone […]
Banking on Technology: The business case for modernising trade finance

Digitalisation is an almost $2 trillion opportunity in trade finance and banks have a crucial role in this ecosystem. Many global banks, however, are still behind in digitally transforming their trade finance functions. What’s holding the industry back from accelerating its digital agenda? Here are some industry perspectives from a recent International Chamber of Commerce […]
New data points, new opportunities for digital transformation

Data as the new oil or currency is not a new concept, but the pandemic has accelerated the emphasis on data. With more and more of the commodity trading industry transitioning to a digital format, the amount of data has increased. But the crucial questions remain. What data is being captured? What is the source? […]
Ready to digitise trade? 3 considerations for commodities trading firms

Sustainability, supercycles and digitisation. These are some of the megatrends impacting commodities trading today. But against a backdrop of supply chain disruptions, high inflation, the green energy transition and most recently, the Ukraine crisis, is digitisation ready to take commodity trade finance to a new level? In the commodities trading industry, like others, having the […]
Contour celebrates International Women’s Day 2022

This year’s International Women’s Day theme is #BreakTheBias – a gender equal world that is free from bias, stereotypes and discrimination. There is a lot to celebrate, considering the growing number of females founding or leading fintech companies. But in a future-forward industry, more can be done to achieve that reality of equality. Since Contour […]
How fintechs are advancing the digitalisation agenda

Digitalisation and the deepening trade finance gap were among the key themes at the recent GTR MENA conference. With SMEs often at a disadvantage, leading fintech players are stepping in with solutions to bring about equal opportunities. GTR MENA 2022 returned to Dubai in February and if there was any doubt about the city’s efforts […]
Looking forward to 2022

In many ways, 2021 was a formative year for Contour, as we put in place the pieces we needed for exponential growth going forward. Now, in 2022, we believe Contour will prove to be the common decentralised network that the trade finance industry needs as a foundation for future progress. We expect our volumes for […]
2021 in Review: Contour reflects on its impact on global trade

Global trade has been in the spotlight this year as the pandemic exposed many shortcomings and choke points of this paper-based industry, whether it be ships stranded at ports, all-time-high shipping rates, or the Suez Canal blockage. Yet, from these incidents, global trade has benefitted from the scrutiny. The case for digital and process reform […]
How digitisation can add value to the agricultural supply chain

The digitisation of agricultural supply chains has increased at a rapid rate, with more corporates and banks beginning to benefit from the efficiency gains that digital solutions offer. Even so, many aspects of the agricultural sector are beholden to legacy processes, with paperwork still being used in key steps of the trading cycle. At the […]
Why Singapore is Asia’s jewel in the crown for trade finance

Since gaining independence over fifty years ago, Singapore has established itself as a key player in Asia’s burgeoning tech and finance scene. Today, the city-state boasts a plethora of forward-thinking initiatives across the trade finance space. Many of these have informed approaches from other nations, paving the way for how technology can be integrated into […]
Corporate data – to keep or to sell?

Who owns your data? Who can sell your data? While some individuals may choose to exchange privacy for free or subsidised digital services, more and more options are in place for those who would prefer not to. This development is thanks largely to governments that have mandated the protection of personal data worldwide and set steep penalties for breaches. […]
Blockchain’s potential to change the face of trade finance

Of all the learnings from the pandemic, the realisation that digital transformation is no longer a choice is perhaps one of the largest – and global trade is no exception to this. Recent challenges across the industry, such as the Suez Canal crisis and disruption to the supply chain at the height of the pandemic, […]
Technology holds the key to driving greater sustainability in global trade

Whether environmental, social or economic, the sustainability challenges at the heart of trade often seem insurmountable in this global, sprawling industry. Recent research suggests 92% of CEOs believe the integration of sustainability will be important to the future success of businesses – but only 48% say they are actually implementing sustainability into operations. Against this backdrop, what […]
International trade must go digital to fight back against fraud

Trade finance is a critical component of global trade, enabling banks to provide risk mitigation and working capital facilitation. Any transaction brings with it a degree of risk, and trade finance is no different – but the $18 trillion market is simply too profitable to abandon. So what are banks looking out for when it […]
Trade Digitisation: To scale is to standardise

We, in the global trade and trade finance industry, are nearing an inflection point. We will either embrace digital platforms en masse, or we will return to discussions about a future held back by seemingly endless challenges, as pockets of digitisation progress. For the most part, the technical challenge of digitisation has been solved through […]
Contour’s Growth in 2020: A year in review

When Contour launched in January, we could not have anticipated the tumultuous year that would lay ahead. COVID-19’s impact across the world has only exacerbated the inherent limitations in international trade networks and highlighted the need for an effective, digital, and common solution for banks and corporates. As we near the end of this memorable […]
A step-by-step guide to trade digitisation

As much as USD 5 trillion of trade credit may be needed simply to bring the global trade in goods to pre-pandemic levels by next year. As big gaps in trade finance hamper the capability of trade to deliver jobs, growth and reduce poverty globally, it’s vital for this problem to be addressed through advances […]
How technology & governance underpin Contour’s value

Revolution, evolution, disruption. The latest buzzwords do not really matter as trade finance has seen them all. What does matter is the kind of net value a change in the industry can generate. The legacy world of trade finance has gone through many initiatives, but it still remains close to the bottom of the digital […]
Trade Digitisation: The catalyst for growth in developing and emerging markets?

Trade is the lifeblood of any economy. However, many regions are still unable to reap the benefits that international networks of trade provide. Developing and emerging markets are often held back through lack of access to global trade finance infrastructures, as well as the associated high costs. These markets are keen to trade and engage […]
Why this pandemic has shown how critical it is to go paperless

Since lockdown began in spring, there has been no shortage of discussions exploring how much the world has changed – or how much it ought to adapt to the “new normal”. Trade finance falls into that second category, and many have rightly pointed out that COVID-19 presents an opportunity to reflect on current practices within […]
Letters of Credit: How they work and the need for change

Throughout history, Letters of Credit (LCs) have played a vital role in helping businesses move from the local to the international stage. For as long as merchants have been sending their goods across the world, they would seek to protect themselves from shipments being lost or not paid for by distant buyers. At the same […]
Trade and Interoperability: A key value for Contour

For broad and diverse networks like trade, interoperability has been touted as the key to ensuring an effective digital future. And for us, it’s one of our key values. But what do we mean when we say interoperability? We’re not just talking about the ability for networks to connect, but also the ability for participants […]
Will blockchain digitise global trade?

The answer will depend on the industry’s appetite for change. In the time before computers and the internet, information travelled slowly. A third industrial revolution was just beginning however, which would change how the world conducted business. A business owner could soon send a document over a phone line instead of waiting a week for […]
Disrupting trade finance with Contour

Published on January 29, 2020 | Article link Author: Chris Sunderman Blockchain lead for trade finance at ING wholesale banking The Letter of Credit, one of the oldest trade finance instruments, is being transformed through the use of blockchain. We have all heard about blockchain and since its origination, a huge number of articles about […]
Banks and businesses see transformative changes on Contour’s network

A new case study by R3 reveals how Contour has brought significant benefits to banks and businesses by reducing many of the barriers and complexities they previously faced in Trade Finance. Read the full report here.
Rio Tinto, Baosteel carry out Rmb deal on Contour as new banks join network

Global / 13 May 2020/ By Eleanor Wragg Article source: Global Trade Review (GTR) Blockchain trade finance network Contour has chalked up another first, with the completion of a transaction between Rio Tinto and Chinese state-owned steel firm Baosteel marking the first paperless renminbi (Rmb)-denominated deal in the iron ore industry. The deal, in which […]
What is Corda?

Corda is an open-source blockchain platform, enabling businesses to transact directly and in strict privacy, reducing transaction and record-keeping costs and streamlining business operations. Fine-tuned for the enterprise Traditional permissionless blockchain platforms—in which all data is shared with all parties—have issues around privacy, scalability and interoperability that render them largely unsuited for global businesses. Many […]
Financing a global business in today’s world

How technology can enhance the financial support for corporates and reduce the impact of outdated processes. Every growing global business needs finance. In 2017 alone, USD 15.5 trillion of merchandise exports were transported around the world across sea, air, rail and road, and as much as 80% of this global trade required financing. Traditional trade […]
Blockchain’s potential for better trade and a more sustainable environment

The Times Raconteur shows how blockchain is revolutionising the trade finance sector A recent Times Raconteur piece has shown the potential for blockchain in the trade finance market. While only 11% of treasurers are currently using blockchain technology, the speed, price and less opaque trading process will likely increase adoption. With transparency on trade deal, […]
Blockchain: Solving a trade finance inefficiency solution

A detailed look into the capabilities of blockchain for addressing the limitations of single windows. Exporters and importers in countries with paperless trade spend far less time on paperwork for border clearance. Those in Sub-Saharan African spend an average of 98 hours on paperwork, as opposed to only four hours in Thailand and one hour […]