CBiBank is targeting the global trade market and solving payment problems of SMEs

Recently, the WTO has released trade data and forecasts, which estimate that the global merchandise trade volume will increase by 3% in 2022 and 3.4% in 2023. Since the outbreak of the pandemic, with the active response of all countries, the development of global trade has gradually recovered. Also, other development trends are gradually emerging. The pandemic has promoted the combination of the Internet, big data and traditional trade industries, thus accelerating the digital transformation of global trade and changing the global trade pattern.

Although the pandemic still spreads, the data show that since last year, the global trade has recovered obviously, and the GDP growth of Japan, South Korea and other countries with import and export trade has gradually returned to the normal level. According to the data released by WTO, the total foreign trade volume of the United States rose to 4.692 trillion USD in 2021, up 22.4% year-on-year, and the import and export volume of Japan in 2021 also increased by 19.4%. Recently, according to the relevant person in charge of the General Administration of Customs of the People’s Republic of China, the total value of China’s foreign trade import and export in the first quarter was 9.42 trillion yuan, a year-on-year increase of 10.7%.

For global trade practitioners, there are both opportunities and challenges. Especially when the global anti-money laundering campaign has strengthened the supervision of many banks and significantly raised the threshold for opening accounts, many small and medium-sized trade enterprises have no way to open accounts, but if they borrow other collection modes, there are some problems, such as poor security, high handling fees, slow collection speed and limited amount. With the outbreak of international trade demand, more efficient, convenient and professional payment tools have become the urgent need of most small and medium-sized trade enterprises.

CBiBank, a US-based bank, has become a new digital bank in the trade market. CBiBank, with the license of American commercial bank and being supervised by American banking supervision institution, is a member of American Banking Association (ABA), SWIFT, UNIONPAY, CIPS, etc.

Regarding the difficulty of opening an account for small and medium-sized trade enterprises, CBiBank has created a convenient process of online application, zero financial management, zero savings requirements, and the fastest seven working days to open an account, which has solved the problems of large amount of initial financial management requirements and the very long application process. In addition, its “24-hour online” customer service provides users with efficient solutions.

In terms of business handling, CBiBank fully supports the collection and payment of mainstream currencies in global trade, such as USD, Euro and offshore RMB, and supports the use of multi-scenarios such as physical trade, service trade, investment and financing, and e-commerce platform, so that enterprises can perfectly adapt to various cross-border collection scenarios.

It takes a good blacksmith to make steel. In the post-pandemic era, the global economic trend is not clear. Small and medium-sized trade enterprises with relatively small anti-risk ability need to consolidate their own foundation, stabilize their basic market, gradually break away from the previous “barbaric growth” rhythm, and value more to safety compliance and capital security. CBiBank has currently provided safe, fast and efficient one-stop financial services to tens of thousands of customers of small and medium-sized trade enterprises, and has become a “ferryman” for its global trade. With the fast and steady development of CBiBank’s global business, it will benefit more small and medium-sized trade enterprises, help them realize digital management, and thus promote the further development of the whole trade status.