BAFT, the leading global financial services association for international transaction banking, has published a new white paper titled “ISO 20022 Migration: Lessons Learned”.
While it comes with many business benefits, engaging in trade with nations around the world can be a complex process. As a result, it may be tempting to pay your invoices in GBP which, at face value, may seem like a simpler and more beneficial option – but this often isn’t the case.
Over the past years, international trade has been challenged by various factors. According to the 2023 Digital and Sustainable Trade Facilitation Global Report, while global merchandise trade volumes in 2021 displayed a strong recovery from the contraction suffered in 2020 due to COVID-19, trade growth slowed down in 2022.
BAFT has announced the 2024 International Trade and Payments Conference, set to take place from 27-29 February 2024, in Washington, D.C.
According to Mastercard’s 2023 Borderless Payments Report millions of consumers and SMEs worldwide are increasingly dependent on both intra and cross border payment flows.
Businesses and public authorities across the EU may be facing tougher laws on late payments, with the European Commission proposing a new regulation enforcing maximum 30-day terms.
At TFG, we took the time to reflect back on the happenings across trade, treasury, and payments in 2023. After sifting through our news archives and speaking with industry experts, we devised this list of 9 key events and themes that shaped trade, treasury, and payments in 2023.
Remittances to countries with low and middle incomes experienced a growth of 3.8% in 2023, showing a slowdown compared to the substantial increases of the preceding two years.
Buy-now-pay-later solutions will turbocharge growth in B2B e-commerce, combining trade credit insurance with a seamless digital purchasing experience.
The European Union’s proposed Late Payment Regulation (LPR), a revision of the Late Payment Directive (2011/7/EU), has sparked responses from the International Chamber of Commerce (ICC) and the International Trade and Forfaiting Association (ITFA).