Trade finance is going through a major shift. Once seen as a safe and steady part of the financial world, recent big failures—Kimura Capital, Stenn, and Artis Finance—have revealed serious problems in how the system works.
These failures have shaken trust in the market and made it harder for businesses to get the funding they need. But beyond the lack of money, a deeper issue has become clear: there is a lack of understanding between the people who provide trade finance and the businesses that need it.
A Market Under Pressure
Trade finance plays a key role in global trade. It helps cover the gap between when goods are produced/shipped and when payments are received. But today, cracks in the system are more visible than ever:
- Kimura Capital faced challenges related to risk management and operational transparency, which raised concerns among stakeholders.
- Stenn, which focused on small business financing through technology, encountered challenges—possibly due to rapid growth ambitions or limitations in its business model.
- Artis Finance, another tech-driven platform, faced similar difficulties—highlighting the importance of having strong risk and operational controls during periods of growth.
These breakdowns have made lenders more cautious. That means less funding is available—especially for businesses in emerging markets or those in the middle-sized range.
It’s Not Just About the Money
Most discussions focus on the lack of funding. But the bigger problem is a gap in understanding.
Many financiers still use standard products and rules. These may work for big companies, but they don’t always fit well for businesses in fast-moving areas like commodities, shipping, or small and medium enterprises in complex countries.
At the same time, many businesses don’t fully understand what banks or lenders need. They may not be aware of how much risk, legal, or compliance work is involved. This often leads to rejection, delays, or missed chances.
A More Tailored Approach
The future of trade finance requires a new way of thinking—on both sides.
For financiers:
- Learn more about each client’s trade process and industry.
- Stop offering the same product to everyone. Instead, create custom solutions.
- Build teams with real knowledge in areas like farming, metals, or energy.
- Use technology to gain deeper insights into how supply chains really work.
For clients:
- Understand how lenders look at risk: identity checks, credit history, available assets, and trust in management.
- Be open and clear about your operations. Trust is key.
- Realize that getting funding takes work—preparation, clarity, and effort matter.
Closing the Gap
New models—like blended lenders, online trade platforms, and bank-fintech partnerships—show potential. But without better understanding between lenders and borrowers, these new tools will not solve everything.
We need a trade finance market where both sides can speak the same language—not just in terms of money, but also in how they work and what they need.
The players who will succeed are those who take the time to listen, adapt, and build real relationships. Flexibility and open communication will be key.
The collapse of companies like Kimura, Stenn, and Artis is not the end of trade finance. It’s a strong message that the system needs to change.
More money alone won’t solve the problem. We must rebuild trust and understanding between lenders and the businesses they serve.
Trade finance doesn’t need a total rebuild—but it does need to be rethought, with more care, more knowledge, and a more personal approach.
"Each door has a key''
Mourad Nait-Atmane
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