Anglo-Gulf Trade Bank is a new venture supported by Microsoft and Publicis Sapient, the digital business transformation hub of Publicis Groupe, the communications group.
The enterprise is hailed as the world’s first end-to-end digital trade bank by its partners. Anglo-Gulf Trade Bank will provide client experience and addressing the challenge of creating a digital banking solution that helps bridge the trade finance gap.
Nigel Vaz, global CEO of Publicis Sapient, believed that an initiative like Anglo-Gulf Trade Bank is necessary as he thinks trade finance has not caught up with the digital revolution. A consequence of this, he claimed, was that only a few companies could “access trade finance due to the associated administrative and financial barriers.”
Vaz added, “As a new type of transformation partner, built to help clients become digitally enabled businesses that thrive in the future, Publicis Sapient is proud to work with Anglo-Gulf Trade Bank on its journey to create this new and disruptive model for trade finance banking.”
Sayed Hashish, general manager of Microsoft UAE, shared the sentiment that financial services were in dire need of disruption. Essentially, he urged the sector to embrace innovation. “Our commitment to support Anglo-Gulf Trade Bank in this digital journey, is at the core of this effort,” Hashish said.
Daniel Gould, deputy CEO of the bank, stated that Anglo-Gulf Trade Bank will rebuild and reimagine the trade finance sector with its simplified and data-driven approach. “By choosing market-leading partners such as Publicis Sapient and Microsoft, we are able to collaborate and take advantage of their best-in-class capabilities to harness the latest technological advances,” Gould said. “In building a fully cloud-based and data-driven enterprise we aim to improve cross-border trade finance and stimulate collaboration within a growing trade ecosystem. Together we are fixing trade finance.”
Copyright © 2019 FinTech Global