this call was released anonymously (understandably) but my local Palestinian organizers who I literally trust with my life have endorsed it, and it seems to be gaining momentum in multiple cities, so I encourage you all to get involved:
"A proposal to coordinate a multi-city economic blockade on April 15th in solidarity with Palestine recently received overwhelming commitments to participate around the US and internationally.
The proposal states that in each city, we will identify and blockade major choke points in the economy, focusing on points of production and circulation with the aim of causing the most economic impact, as did the port shutdowns in recent months in Oakland, California and Melbourne, Australia, as just a few examples.
There is a sense in the streets in this recent and unprecedented movement for Palestine that escalation has become necessary: there is a need to shift from symbolic actions to those that cause pain to the economy.
As Yemen is bombed to secure global trade, and billions of dollars are sent to the Zionist war machine, we must recognize that the global economy is complicit in genocide and together we will coordinate to disrupt and blockade economic logistical hubs and the flow of capital."
ETA: since I posted, organizers in St. Louis, Seoul, Brussels, and the Netherlands have signed onto the agreement, so if you saw this before and your city wasn't listed look again. anyone with the capacity to do some outreach, and a few connections to start with, could take the initiative to bring their city or region on board. read the solidarity agreement and check out the resources, and if you know trustworthy people in your area who might be interested in this sort of thing, talk to them about it.
remember that this isn't a series of protests (although some cities are organizing protests in conjunction), it's a commitment to take mass direct action and to maintain a united front in the face of any state repression. many organizers are (and have already been) using an affinity group model to actually coordinate those direct actions. autonomous groups can take action on April 15th whether or not others in their city/region have committed to this agreement. just do your homework (look up know-your-rights info specific to where you live + general direct action safety tips) and take good care of each other
Blockades: a short guide to getting in the way
Basic blockading
Practical Protest Techniques: using your body
Blockading: a guide
ACT UP civil disobedience guide
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The intense need for digital trade finance is not hidden from anyone.
The present volatile market highlights a variety of challenges for trade finance banks and their corporate clients, including supply chain disruptions, increasing costs, prevailing compliance demands, risks of fraud, and emerging ESG examination.
But the initiative of eliminating paper-based trade finance procedures comes with many complexities, and financiers have to figure out whether they should purchase their solutions through a third party, or create their capabilities in-house.
Recently, Enno-Burghard Weitzel, SVP of Strategy, Digitization & Business Development at Surecomp spoke about digitization in trade finance in a webinar named “Taking trade finance digital — buy vs build.”
Incorporating Digital Solutions
In the present era, various banks and corporations are facing challenges in streamlining trade finance processes. Surecomp surveyed to determine digital solution incorporation and figure out issues.
Weitzel talked about discoveries, examining alternatives for banks to handle these complexities by determining whether to develop digital trade finance solutions in-house or outsource teams.
Trade finance has a long-term dependency on traditional techniques and relationships. But as the global economy becomes more digital, institutions need to transform their trade finance operations.
Digitization facilitates an opportunity to streamline processes, boost efficiency, and improve customer satisfaction. Other benefits include cost reduction, faster transactions, and improved risk management.
However, the pathway toward adopting digitization is quite daunting. Institutions must determine whether they want to invest in existing platforms from third-party providers or create custom digital solutions in-house. This “Buy or Build” dilemma has vital significance for long-term success and competitiveness in a quickly developing trade scene.
Surecomp’s Survey Discoveries — Discontent and Need For Improvement
To acquire a better understanding of the existing state of play, a survey is conducted by Surecomp on banks and corporates to evaluate their incorporation of digital trade finance tools and access complexities and development opportunities.
The results uncovered a critical degree of dissatisfaction among banks and corporates with their existing trade finance processes.
A notable 41% of banks highlighted their discontent with the overall duration of issuing financing approval to their clients, with 35% of them being completely depressed.
Similarly, 45% of corporates reported being unsatisfied with the time it takes to get approvals from their financiers.
Undoubtedly, both banks and corporates have a dire need for improvements in their trade finance processes. The top reactions in this regard were “more digital” ( 53% for banks, 52% for corporates), “more time-effective” ( 53% for banks, 52% for corporates), and “more optimized & easy” ( 41% for banks, 45% for corporates).
Surprisingly, despite this powerful urge for improvements, the survey results uncovered a noticeable gap concerning adoption.
While 71% of banks and 73% of corporates admitted that process automation is an intense requirement for internal stakeholders, a critical extent still can’t seem to carry out digital trade finance solutions to automate their processes.
A striking 59% of banks and 70% of corporates reported not utilizing a digital trade finance solution for automating the process.
Besides, 93% of banks keep on depending on email as the primary mode of negotiating with their trade finance customers, featuring the continuous utilization of time-consuming and error-prone manual processes.
“This gap highlights a significant chance for development and transformation, and by overcoming it, banks and corporates can leverage the full potential of digitization, organize their processes, and gain improved efficiency,” stated Weitzel. “The challenge, however, lies in determining the most appropriate sources of doing so.”
To Buy or To Build, That Is The Question
The trade finance industry has witnessed a huge surge in technological advancement in recent years, with a variety of solutions emerging to resolve several complexities and inefficiencies in the sector.
However, the landscape is described by fragmentations, with several fintechsolutions, and blockchain platforms in several phases of development.
Numerous arrangements have yet to enter into the stage of a live production from the mere proof-of-concept, and the events of recent months, where a few enormous initiatives have shut down subsequent failure to reach commercial viability, have yet to inspire confidence.
Weitzel stated, “Banks have invested huge amounts of money into digital transformations, but they are attracting development gradually.”
“Whether it is creating API connectivity for corporate clients into the backend, or investing money on integrations into platforms that don’t get scale, things aren’t moving as quick as they may have expected.”
Meanwhile, the expansion of new technologies in trade creates new complexities.
The stakeholders not only witness the risk of investing in technologies that may ultimately fail, but the requirement for standardization across various solutions develops huge integration obstacles, with banks and corporates finding themselves having to put up resources in multiple platforms to consider different aspects of their operations.
Looking at this scenario, creating a custom, in-house solution may sound satisfactory in terms of flexibility and control.
Building its digital solutions will help banks develop innovative features and capabilities that will distinguish them from their competitors, creating a tailored facility that fulfills the specific requirements of their clients.
This competitive distinction can be a valuable asset in an undeniably swarmed and competitive trade finance scenario, empowering institutions to stand out and cover a larger share of the market.
However, only a few financial institutions are capable of carrying out their digital service, while larger banks may have access to expert groups capable of designing & incorporating digital trade finance systems, smaller institutions might require more resources and skills.
Furthermore, the risks and limitations built-in to this approach often outweigh the potential benefits.
“Developing a custom trade finance solution demands dedicated amounts of time and human resources, “ stated Weitzel. “By choosing to purchase, banks will be capable of allocating their resources more effectively, focusing on things that bring competitive benefits and differentiation. We’ve seen this in the way that the relationship between banks and fintechs has improved from one of competition to one of strategic collaboration, where banks can use fintechs’ specialized knowledge and technological experience.”
Reactions received by Surecomp from the market highlighted a combined picture as to which side of the buy or create debate the industry is settling on.
Banks and corporates said they were already utilizing a digital trade finance solution, roughly half explained this was a third-party platform, while the remainder said they either used host-to-host integration between their enterprise resource planning (ERP) software and their banks’ servers, or a proprietary solution developed by the bank.
Bridging The Gap Between Buying And Building
To leverage huge economic and operational benefits, corporates and banks alike should begin incorporating digital trade strategies now — and this will mean filling the gap between buying & creating to get the benefits of both options while reducing the risks.
As stakeholders within the trade finance ecosystem strive to navigate the challenges of the buy or build dilemma, figuring out a hybrid approach that can empower them to make tangible processes now and expand their skills over time is a compelling alternative.
Surecomp’s RIVO platform, a digital hub that offers open API access to importers, exporters, banks, insurers, shipping companies, and solution providers, is one example of this concept in action.
With RIVO’s integration, organizations can easily connect their current in-house trade finance solutions with third-party platforms and services, empowering them to personalize their offerings and adjust emerging market needs without requiring huge in-house development or procurement efforts.
Embracing The Future Of Trade
The world of trade is currently struggling, with the continuous pressure of digitization compelling banks and corporations to reconsider their conventional processes & systems.
The advantages of incorporating digital transformation are clear, yet the complexities and decisions that institutions must navigate along this pathway are challenging and multifaceted.
Eventually, it will not be a one-size-fits-all initiative. Each organization must thoroughly assess its unique requirements, resources, and goals to figure out the most suitable path forward.
Originally published at https://www.emeriobanque.com.
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I know I periodically ask people to look at Alice, but I would like to explain why.
That, above, is Alice when she was just ten days old. It was December 2008, and I had gone to Seattle to prepare to die. I was tired, I was dealing with a massive disruption in my social circle, and I was done. So I went to see friends, and to say my goodbyes before I went home and politely made my exit. I had a fully articulated plan, and no desire to tell people about it, which is not a good place to be.
Then we went to visit Betsy, who had recently ushered a litter of kittens into the world. And she put this little blue tabby potato in my hand and said "That's the girl."
And just like that, I decided to live. "Do you take checks?" I replied, and Alice entered my life.
(That makes it sound much easier than it was. Betsy was intending to keep Alice, who was without flaw by Maine Coon breed standards. Seriously, she was the kind of cat breeders work to produce for their entire careers. I spent two months wearing Betsy down before she agreed to let me have her.)
Alice was my first Maine Coon. Alice was my heart and soul somehow walking around outside of my body. She was without flaw. She was everything I wanted in this world, and she loved me as much as I loved her, and I would happily trade a year of my life for another hour with her in my arms.
In 2017, I went to Australia as a convention guest, and when I came home, Alice wasn't right. She was always food-motivated, and she was refusing to eat. I made a vet appointment immediately, and we started the necessary tests to find out what was wrong. Roughly a month later, while I was at another convention, my vet called me.
"I am so so sorry," she said, and the world ended.
Alice had large-cell feline lymphoma. It wasn't a surgically treatable cancer; we were going to have to go through chemo, and hope. So we did. And we did everything it was possible to do. Thanks to my Patreon, there was never a point where I had to decline treatment due to money, and I know what an incredible gift that was. Bit by bit, she faded, but she was still my Alice, and we were still fighting.
Then, on February 13th, 2018, I woke up and she was stretched out along my side from hip to knee, making the worst sound I have ever heard every time she took a breath. I didn't want to let her go. I could no longer make her stay. We left for the vet immediately, and my oncologist agreed that she was done; she was ready to go, and the last gift she gave me was staying by my side, not running and hiding like most cats would.
I held her. I sang "Beautiful Beast" for her. And she went ahead of me to the clearing at the end of the path, to the place she stopped me from going.
I miss her more than I knew I could miss anything in this world. She was my best friend and my favorite thing, and my mother told people I'd lost a child to explain why I would just wander around, dead-eyed and sobbing. Alice saved me when I didn't think it was possible, and I'm grateful; I have no such plans at this point.
But fuck my poor, broken heart, I just want her to come home. And in the absence of that as an option, I want everyone to look at Alice.
Please look at my poor girl.
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