TFG’s Editor Deepesh Patel spoke to Stacey Facter, BAFT’s Senior Vice President for Trade Products, during BAFT’s Global Annual Meeting, held in Frankfurt from January 13-15, 2020. Anti-money laundering (AML) and sanctions were key compliance themes at the meeting, so TFG caught up to discuss how these could be tackled moving forward, and what’s in stock for 2020.

Currency is part and parcel of monetary policy, and a public mandate of the European Central Bank (ECB). TFG’s Editor, Deepesh Patel, spoke to ECB’s Yves Mersch about the possibilities of central bank digital currencies in relation to payment systems, faster transaction times and settlements. Separating the hype from reality; Mersch spoke to TFG about the regulatory consequences of central bank digital currencies. “We are tech neutral. We want to stay ahead of tech. Tech has to serve our purpose, not the other way around.”

Putting up a business typically involves complex financial processes—the kind that can be overwhelming for anyone who’s new to the field. To avoid getting into monetary troubles, it’s important that owners get all their finances ironed out right from the start.

Trade Finance Global spoke to Wenhui LIANG at the WTO Global Trade and Blockchain Forum, on the nature of the current state of the global trading and blockchain adoption in global trading.

There is a common miss-conception that four or five multiple banks must be involved to manage letter of credit transactions. These multiple banks include credit issuing banks, advising banks, negotiating banks, confirming banks, and reimbursing banks. What is less understood is that these “banks” are functions, not necessarily physical banks. The trade finance functions these banks perform in a transaction can be done by separate banking institutions or by one bank under UCP 600 guidelines (Uniform Customs and Practice for Documentary Credits, ICC Publication 600).

Listen to this podcast on Spotify, Apple Podcasts, Podbean, Podtail, ListenNotes, TuneIn, PodChaser Season 1, Episode 30 Host: Deepesh Patel, Editor, Trade Finance Global Featuring: Dirk Bullmann, Innovation Team Leader,… read more →

Banks are often slow to adopt the latest technology, and in many cases that is warranted. As highly regulated institutions tasked with protecting valuable data, banks understandably want to avoid “running with scissors.” By starting slow with simply implementing APIs in a few areas, they can begin to modernize and ultimately provide streamlined payments solutions, like RTPs, to their largest pool of customers.

TFG heard Judd Holroyde, Head of Global Product Management, Wells Fargo. We talked about the changing payments landscape, about SWIFT and SWIFT Gpi and how the FinTech creativity can be used as a customer value proposition messenger.

NEW YORK CITY – Businesses large and small have a common challenge: choosing the best, most efficient payment channels for hundreds or thousands of recipients. Deciding between card, wire, automated… read more →

New service links gpi, banks and domestic real-time payments systems·                 Successful trial with Europe’s TIPS SWIFT today announces the launch of a new service to deliver global instant payments by… read more →