Through a stormy year, true stars shone through. Global Finance recognized them at a special live virtual event held during BAFT.
After more than 20 years of recognizing the best trade finance and supply chain finance providers, Global Finance was not going to let the minor issue of a pandemic keep it from acknowledging the best in finance.
On June 7, in conjunction with the Bankers Association for Finance and Trade global annual meeting and centennial celebration, the publication held its annual Trade Finance and Supply Chain Finance awards as a virtual event for the first time.
“We have partnered with BAFT since 2014 for these awards,” said Joseph D. Giarraputo, president and editorial director at Global Finance. “In the last 15 months, BAFT members have faced more uncertainty—for better or worse—than most sectors of finance. World trade saw a sharp drop early last year but experienced a quick recovery as the year progressed.”
Accepting the award for Best Non-Bank Supply Chain Finance Provider, Orbian Chairman Thomas Dunn cited the common wisdom that there is a healthy tension between short-term and long-term results when times are normal, but that “in a crisis, only the long term matters,” adding “and 2020 was a crisis year.”
Fellow winner Sergio Dalla Riva, head of product development, Global Transaction Banking at Intesa Sanpaolo, also noted, while accepting Best Trade Finance Bank in Italy, that global political realignments and changes to the world economy have raised the performance bar for everyone significantly.
All of the 2021 award winners showed their mettle by not only keeping their businesses running but making sure that they met their clients’ needs through innovation, application of the latest technology, and sheer determination.
This year Citi took home the global prize as Best Trade Finance Bank, along with the top honor in Latin America and other awards.
Tradeteq’s end-to-end trade finance platform, which incorporates portfolio management, risk analytics and investment automation, helped the vendor win as this year’s Best Non-Bank Trade Finance Provider.
Meanwhile, Santander won an armful of awards, including Best Supply Chain Finance Bank globally, as well as Western Europe’s Best Supply Chain Finance Bank and several other categories.
Societe Generale also had an impressive showing, winning Best Bank for Trade Finance in Emerging Markets; Best Trade Finance Provider in Western Europe; and Best Trade Finance Provider in Algeria, Burkina Faso, Cameroon, France, Morocco, Romania and Senegal.
By the end of the event, Global Finance had acknowledged banks from more than 100 countries and from six continents. Hopefully, next year, all will be able to celebrate in person once again.