Tallinn SCF Summit shed light on the future of real-time economy

Published on 2022-06-09

The inaugural Tallinn SCF Summit, organised by ITFA and its fintech member SupplierPlus, was held on 31 May - 1 June in the capital of Estonia, one of the most digital societies in the world. The event explored innovations in trade and supply chain finance as well as real-time economy - technologies that simplify data exchange between state and private sector information systems.

Delegates included representatives of financial institutions, technology vendors and corporations that manage working capital with factoring, letters of credit and other trade finance products.

Luukas Ilves, Government CIO of Estonia, highlighted that it is not only goods that flow in supply chains, but also data related to the transactions. States must thus take an active role in developing standards, regulations and technical solutions that facilitate the flow of data. These solutions can improve access to working capital, which is particularly valuable at a time when markets are volatile and supply chains disrupted.

Sean Edwards, Chairman of (ITFA) noted that e-invoices and eID solutions that enjoy broad adoption in Estonia set an example for Europe and the rest of the world.

“While working capital needs in Baltic retail are typically met by traditional business loans and factoring, the market is now moving towards payables finance and other supply chain finance techniques. Technology allows financiers to secure the necessary documentation and confirmations in electronic form. This reduces risks and costs, which in turn enables funding even in less predictable economic circumstances,” said Kaspar Kägu, CEO of SupplierPlus.

ITFA members Enigio and Tradeteq as well as local technology vendors eID Easy and Guardtime showcased their solutions that are transforming financial services.

Please find video recordings of all sessions below:

May 31 (Day 1):

June 1 (Day 2):

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