Enigio has been featured in the Berne Union Yearbook 2020, an annual publication that provides up to date information on institutions offering export credit and investment insurance.
In the publication, John Bugeja, the Managing Director at Trade Advisory Network, gave a situation report on digitalisation in trade.
Digitalisation will facilitate innovation. The aim should not be to merely digitalise existing processes, but to find new, more efficient ways to meet clients’ financing and risk mitigation needs, exploiting the functionality that digitalisation brings.
Why trade finance needs digitalisation
In the comprehensive report, Bugeja noted that replacing paper documents with electronic records would help drive automated decision making. Products such as Enigio’s trace:original help verify and authenticate paper originals. It’s easy to create fake paper documents and it can be hard to spot them. However, with digitalisation, through the exercise of caution, fraudulent activities around electronic records can be reduced.
About Berne Union
The International Union of Credit and Investment Insurers (Berne Union) is a non-profit association on a mission to facilitate cross border trade. Every year, Berne Union releases a publication dubbed the Yearbook covering market trends, situations and future trends in trade. Members of the union include export credit agencies, political risk insurers and multilateral trade institutions from across the globe.