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MAJORITY OF UK EXPORTERS SEE INTERNATIONAL DEMAND RISE IN 2021

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A new survey of 752 UK businesses provides insight into the challenges and opportunities of international expansion. It found:

  • 61% of UK businesses either operate internationally already (45%) or plan to expand overseas by the end of 2022 (16%). Of those:
  • 62% said Brexit prompted them to move into markets outside of the EU
  • 68% have noticed increased demand for their goods and services within international markets
  • 67% have found that having a British brand has enhanced their reputation within international markets

Brexit has driven UK businesses to expand into international markets outside of the European Union (EU), with Brand UK aiding their growth, according to new research from One World Express.

The global logistics firm surveyed 752 decision makers within UK-based businesses. It found that 61% either operate internationally already (45%) or plan to expand overseas by the end of 2022 (16%).

Of those currently selling or planning to sell their products and services outside of the UK, 71% are now exclusively targeting countries beyond the EU for their international expansion.

Indeed, the majority (62%) of exporting companies said that Brexit has prompted them to expand into countries outside of the EU.

One World Express’ research also showed that 67% feel having a British brand or a UK-based operations enhances their reputation and increases overseas demand for their goods or services. A similar number (63%) said markets outside of the EU are more likely to pay a premium for their goods or services.

Most (68%) companies have a clear international expansion plan for the year ahead. Indeed, 67% are confident that they will establish themselves in at least one new international market by the end of 2022 – 75% believe they will have established themselves by the end of 2026.

Atul Bhakta, CEO of One World Express, said: “The fallout from Brexit has posed many challenges for UK businesses throughout the previous year. However, as the dust begins to settle, it’s encouraging to see many companies now seizing opportunities for international growth, with Brand UK evidently helping some to break into new target markets.

“That said, successful international growth will not come without obstacles. Careful planning is required, from thorough market research and resource allocation to comprehensive logistics strategies, each of which will be vital in facilitating sustainable growth.

“The post-Brexit future for UK businesses is certainly looking brighter, with growing demand throughout international markets. Provided careful planning is undertaken, I have every confidence that we will see many organisations go from strength to strength in 2022.”

 

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astrantiaPay Selects SaaScada to Enrich Swiss Landscape of Business Payments and Fill Market Gap

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Swiss financial firm, astrantiaPay, to use SaaScada’s cloud-native core banking engine to simplify cross-border payments for SMEs and facilitate international trade and services across the old and new economies

 Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explains Lukas Wissner, CEO of astrantiaPay. “As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. This can hinder growth, and sometimes even threaten a company’s existence. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

SaaScada is an industry-proven core banking system that unlocks trapped customer value, mitigates risk, and drives real-time data insights. It was founded from a desire to provide first-class financial services capabilities for everyone. SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its event-driven architecture will provide astrantiaPay with a real-time stream of events for each company account.

“SaaScada’s experience and deep understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced us,” concludes Lukas Wissner. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be it software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” explains Nelson Wootton, Co-Founder and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”

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Times International and SaaScada partner to deliver innovative trade and commerce financial solutions

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Global trade is forecast to increase between 30% and 70% by 2030, with 80% relying on trade finance. With traditional merchant banks struggling to meet the challenges of digitisation needed to deliver faster trade flows, Times International will focus on bridging the current supply chain funding gaps, offering market leading digital finance and FOREX services to SMEs in addition to insurance and logistics.

Times International will initially launch as a wholesale funded lender in the first quarter of 2023 and apply in parallel for approval to become a fully regulated Bank.

SaaScada’s flexible and scalable technology has been selected to deliver the core banking solution and the team will work closely with Times International to build a cohesive eco-system of financial technology suppliers.

This will deliver greater transparency and an elevated customer experience for all users across the full trade cycle which will deliver international trade finance to SMEs in the UK, continental Europe, and APAC.

Times International chose SaaScada’s core banking technology due to both the excellence of its platform and alignment of sustainability goals.  With an increased expectation for ESG accreditation driving behaviours, the need to simplify the supply chain through directly contracted trade has created a growing need for finance options for SMEs.

SaaScada’s data architecture is designed to enable fast and efficient reporting of financial data as well as consumption of external data, making it possible for Times International to interrogate data sourced from traditional market sources such as Bill of Lading & Customs Data in conjunction with their customer data. SaaScada’s data approach combined with open APIs, will enable one-click SME access to reporting across the Times International portal and minimise rekeying of data for faster and efficient customer verification, processing and approvals.

Importantly, the easy access to real-time data will facilitate both self-assessed and 3rd party assessment of ESG performance to ensure that transactions meet the criteria of green deposits.

Steve Round – ‘SaaScada are very excited to be part of this venture which will power finance to facilitate shorter supply chains and support SMEs to deliver more sustainable global commerce. We are very much looking forward to working closely with Times International to develop their offering and deliver real change in international trade.

Steve Rose – ‘Our partnership with SaaScada will enable us to offer finance solutions not traditionally available to SMEs in this space.  SaaScada’s unique data architecture and extremely flexible product configuration will enable us to support our customer base and respond quickly to their changing needs, which is especially important in the current global economic climate.  Culturally, their shared sense of purpose for sustainability and collaborative approach has made us a natural fit. 

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