The trade finance gap represents the cumulative amount of requested trade finance that is rejected. In 2019, the Asian Development Bank estimated that the global trade finance gap was at USD 1.5 trillion, but amid the fallout from the pandemic this figure has skyrocketed. A new research from the International Chamber of Commerce (ICC) estimates a capacity of USD 1.9 to USD 5 trillion in the trade credit market is necessary to return to 2019 levels. Factoring in this estimation along with the existing 2019 trade finance gap of USD$1.5 trillion means that now between US 3.4 trillion and US 6.5 trillion are needed to be able to meet the 2015 UN’s Sustainable Development Goals.
Mitigram is the leader in the technological revolution of Trade Finance, and is investing significantly to expand its global reach by adding of a number of experienced Trade Finance sales directors in different markets.
Pepi Bedi joins Mitigram with a focus on financial institutions. Previously the Head of Structured Trade Finance at Sumitomo Mitsui Banking Corporation, Pepi brings years of global experience from the production, trading and banking perspective.
John Treasure has begun working with Mitigram in the United Kingdom with a focus on the US and UK markets. John has some 40 years’ experience covering all aspects of trade finance. as previous roles include Head of International Trade and Transaction Banking at Crédit Agricole CIB; and a board member of the IECA.
Samia Sadouki brings fluency in German, French, Arabic and English to expand Mitigram’s efforts further into the German-speaking corporate market, as well as North Africa. Samia has 15 years of experience with financial institutions including LBBW, Citigroup and Deutsche Bank.
Toh Bee Lian joined Mitigram’s newly established office in Singapore. She brings 15 years of banking/corporate trade finance experience and is bilingual in Chinese and English.
Mitigram’s CEO, Milena Torciano, states the four new Sales Directors will play a pivotal role in the company’s growth. “The next phase of our global expansion is focused on Asia as we have established a strong foundation in both the Nordics and the rest of Europe in the first few years of our operations. As we are a truly global network, we look forward to the tremendous opportunities arising in geographies previously left out as they become essential to global trade and our advancement.”
Mitigram has recently exceeded $60 Bn in Trade Finance transactions negotiated on the platform. With the release of the Open Market Discovery module and the latest product Transaction Manager - TxM, Mitigram is now the full-fledged market network driving the adoption of technology in Trade Finance.