“ When we show the we.trade to some of our clients, they identified immediately the value-added service and then they already think about how they can apply the usage of such a solution to their operation ”
— Raphael Barisaac, Global Co-Head of Trade and Working Capital Solutions, UniCredit
Business Challenge
As one of the largest banks in Europe and a major player in trade finance, UniCredit S.p.a. has been a strong proponent of the development of digital innovations in trade finance. As part of its ongoing strategic assessments, the bank also gave voice to what it saw as a risk in the growth of digital trade finance: that small and midsize enterprises (SMEs) might, in essence, fall below the radar.
Transformation
UniCredit’s vision was consummated in 2017 with the founding of we.trade, a joint venture among 12 leading European banks. The blockchain trading solution is based on the IBM Blockchain Platform running on IBM Cloud.
Solution Components