By implementing multi-currency settlement and enhanced risk controls digitally, CZBank (Shanghai) taps into faster collections, improved security, and emerging market expansions.
On 9 September, CZBank Shanghai Branch had announced its advancements of international trade support through enhanced digital financial services for Chinese exporters.
Traditionally, many small- and medium- sized enterprises (SMEs) in China’s foreign trade sector faced challenges in managing cross-border collections and cash flow across complex global currency environments. Inefficient transaction processes, security concerns, and limited access to diverse settlement options had constrained their international expansion and operational resilience.
To address these challenges, the bank partnered with a specialized cross-border trade payment platform to digitally transform its global collection and cash management capabilities. This collaboration has enabled the bank to deliver:
- Integration of multi-currency settlement solutions to streamline foreign exchange and minimize conversion risks
- Development of local account structures facilitating faster, more direct collections in key global markets
- Advanced risk control systems to enhance security in cross-border capital flows
- Expansion into emerging markets to diversify trade channels and support broader export reach
- Data-driven, cloud-enabled finance infrastructure for improved efficiency and scalability
Said the bank’s Vice President, Yan Jun: “Partnering to expand our global financial network allows us to create a more professional and resilient cross-border financial service system, empowering enterprises to extend their global presence.”
According to Bill Deng, founder and CEO, XTransfer, the partner platform involved synergy between traditional banking expertise and innovative technology: “Combining deep cross-border financial experience with technology and global networks enables us to provide foreign trade enterprises with a robust financial infrastructure to support steady growth in international markets.”
Looking ahead, the two parties will engage in extensive cooperation in areas such as Local Account services, multi-currency settlement, risk control system development, and expansion into emerging markets, jointly promoting innovation and upgrades within China’s foreign trade financial ecosystem.
This collaboration demonstrates how integrating digital payment technologies with financial institution capabilities can tackle persistent obstacles in cross-border SME trade finance, fostering smoother, safer, and more efficient global trade ecosystems.
