• Monday, April 22, 2024
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Expert says up-skilling is critical in trade finance success

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Seyi Ebenezer, a finance and banking professional with extensive experience in trade finance, has stressed that upskilling is a paramount criterion for success in the industry.

He made this known at a media briefing recently stating that the trade finance industry requires constant upskilling to attain desired progress.

Ebenezer emphasised that continuous learning and skill development are essential for staying competitive and adapting to the changing demands of trade finance.

“In trade finance, where regulations, technologies, and market trends are constantly evolving, upskilling is not just beneficial but imperative for professionals aiming to excel in their careers,” he stated.

According to him, trade finance encompasses a broad range of financial services and products used by companies to facilitate international trade and commerce.

From letters of credit and trade finance loans to supply chain finance and export credit insurance, the field requires a deep understanding of global trade dynamics, financial instruments, risk management strategies, and regulatory frameworks, he noted.

Ebenezer underscores the importance of acquiring specialised knowledge and expertise in trade finance domains such as documentary credit, trade documentation, trade compliance, and trade operations.

“Professionals need to invest in acquiring specialised certifications, attending relevant workshops and seminars, and staying updated on industry best practices,” he added.

Furthermore, Ebenezer highlights the role of technology in reshaping trade finance practices and the need for professionals to embrace digitalization and fintech innovations.

“As trade finance becomes increasingly digitised, professionals must enhance their digital skills and familiarise themselves with emerging technologies such as blockchain, artificial intelligence, and data analytics,” he explained.

Ebenezer reiterates the critical role of upskilling in ensuring success in trade finance. “Trade finance professionals can effectively offer innovative solutions needed in international trade and drive growth in the global economy by continuously expanding their knowledge base, honing their skills, and embracing technological advancements.”