The finance industry has gone through massive transformations in recent years due to digital evolution and technological advancements. These transformations have posed several complex challenges for modern leaders in the finance industry. These challenges include global cyberattacks, major commodity price fluctuations, transport costs, diverging standards and regulations, and tougher environmental obligations. Other challenges include sustainable cost efficiency, declining revenues, disrupted supply chains, higher compliance costs and overall inflationary pressures.
Embracing these challenges and delivering exceptional customer experiences, Graham Bright (Head of Compliance and Operations of Euro Exim Bank) has set a prime example as a remarkable and undefeatable leader in the finance industry. Graham’s experience encompasses more than 40 years in the finance industry working collaboratively with industry utilities, regulators and Central Banks, consulting, and partner/channels management.
A Multi-Faceted Leader
Graham has completed his education in BA (Hons.) in Business Studies from Middlesex University. Apart from this, he also holds a Professional Doctorate in Leadership and Management from the European International University of Paris. His achievements are not just confined to the business field but he is also recognized as a serving UK Justice of the Peace sitting on Crown Court appeals. Throughout his career, Graham has received several industry awards and accolades for portraying his exceptional leadership. His articles on thought leadership have been published in the financial technology press.
Graham is also a recognized speaker at trade industry conferences across the globe. In addition to these, Graham has won several prestigious industry awards throughout his career including the ‘Most Innovative Executive in Trade Finance–2020’. Graham currently spearheads the operations of EEB and contributes his efforts towards building the largest trade finance sales team on the planet. Expressing his views, Graham states, “At Euro Exim Bank, we understand that the industry is transforming. Thus, we have embraced digital banking and exceptional customer experiences, as part of our core ethos”.
A Team of Proficient Individuals
EEB was established in the year 2017 and offers services related to trade finance. Primary services include Letters of Credit, Standby Letters of Credit, Performance Bonds, Bank Guarantees, Bank Comfort Letters, Proof of funds, Payment Services, Escrow Services, etc. The team of EEB delivers exciting new solutions to its customers including electronic trade finance products and services as well as blockchain-powered international trade settlements. Additionally, it focuses on building an experienced sales team and digital processes including the use of latest technology such as blockchain, AI, and others at competitive rates.
As the Head of Compliance and Operations, Graham leads a team of specialists with more than 1500 agents and partners in over 100 countries. He is responsible for going through the profiles of the clients, type and size of deals, customer onboarding, and internal policies. He is also responsible for intraction with regulators, and working closely with the legal team. To constantly stay up-to-date with the recent trends and ensure constant motivation within the team, Graham contributes to regular training sessions on regulatory and compliance issues, product and sales, with constant information sharing.
Promoting Diversity
Being a modest leader, Graham practices a healthy work culture environment consisting of open honest dialogue, finding solutions for disadvantaged customers in often difficult jurisdictions to achieve trusted importing of goods and services in a highly competitive market. To ensure this, the team of EEB actively encourages listening to the client, tailoring the appropriate instruments, building long-term relationships, and treating clients with respect and dignity.
Encouraging and promoting diversity, the team encompass multiple faiths, religions, creeds, minorities, and diverse cultures. Adding to this, Graham states, “Our policy remains to welcome those who wish to work with us, to the best of their ability, finding solutions and building revenue”.
The Exim Wave Platform
Being a digital trade finance provider, the operations of the bank were not disrupted due to the COVID-19 pandemic. Thanks to the rapid shift towards digitization, EEB currently offers worldwide solutions to its customers including electronic LCs, guarantees, and digitally driven supply chain financing. The Covid pandemic also prompted the introduction of smart contracts powered by blockchain that are helping to automate the enforcement and settlement of cross-border transactions.
As one of the adopters of blockchain to power international trade settlements, EEB has recently developed the Exim Wave–a state-of-the-art multi-currency global trade platform. The Exim Wave platform provides access to over 150 global currencies. Digital trade finance is further expected to grow along with digitalized end-to-end supply chain monitoring. These developments will further lubricate and streamline global trade resulting in a new and more lucrative age of international trade.
Embracing Difficulties and Challenges
With the arrival of several new Fintech challenger companies in the financial sector, traditional banks are facing tough competition. Our approach remains to listen to market trends, filter out noise and concentrate on deliverables, embrace technologies from trusted sources, especially to support the complex, multi-participant ecosystem of trade finance. Since its inception, EEB has taken a keen interest in maximizing value and efficiency and has invested in such new technologies. This has helped the bank to manage critical data areas including legal jargon, the interaction of buyers, sellers, banks, ports, importers, insurers, inspectors, and shippers, all of whom have complex systems, conditions and obligations.
To digitize and automate this process as much as possible, EEB operates systems enabling rapid online onboarding of clients, new agents and partners with due diligence, AML and indemnity checking, scanning identity, shipping documents, bills of lading and document verification. This is done by gathering information source documents electronically and with innovative workflow, covering the entire trade lifecycle supported by the latest OCR, blockchain, and AI innovation. EEB strives to meet current and future challenges in providing world-class service, for efficient, competitive, sustainable, and economically viable instruments facilitating international trade.
Ensuring Client Satisfaction
Recently, there has been an increase in the demands of the clients and expectations of service by customers, much of which is driven by the ease of access through electronic hand-held devices powering social media. To meet these demands and expectations, EEB is contributing its efforts to implement new technologies and become ever more agile. The foundations of this move to fully paperless digitization are found through digital transformation, Ai, and greater collaboration with FinTech companies. With the support of a tech-savvy board, strong IT development and implementation services, EEB has purposefully invested and worked to involve leading technology as a prime business enabler. This has helped in refining the internal processes, improving efficiencies, and ultimately assisting end-user economies and experience.
Guiding Aspiring Leaders
Sharing his knowledge and expertise, Graham advises all aspiring leaders in the financial sector to seek out the best resources, collaborative staff and sales agents with experience. Additionally, he recommends constantly analyzing the market, sharing the corporate vision, and keeping in mind business sustainability. Further, for improved efficiency and motivation, Graham advises to set realistic timely goals, recognize individuals for their performance and actions, and promote the deserving.
“Our philosophy has always been to encourage teamwork, consistent frequent training and above all provided development opportunities”–says Graham. Additionally, he believes that an efficient leader should always be flexible and open to change, as world events, pressures, political and geographic challenges are more pressing than ever and demand constant attention and action.
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