New Correspondent Banking Hub Launched by TFG in Collaboration with BAFT and EBRD

June 15, 2023 by [email protected]

Trade Finance Global launches a dedicated Correspondent Banking hub, in collaboration with BAFT and EBRD, to provide sector-specific content and resources for professionals in the global correspondent banking industry.

LONDON —Trade Finance Global (TFG) is thrilled to launch its latest addition to its platform—a dedicated Correspondent Banking hub, in collaboration with BAFT and EBRD. This innovative hub aims to provide a wealth of industry-specific content and resources, catering to the evolving needs of professionals in the correspondent banking sector across the globe, whilst amplifying the voice of key regions and markets.

Correspondent banking plays a pivotal role in international trade, facilitating secure and efficient cross-border transactions. In recent years, traditional correspondent banking has experienced exponential changes across product delivery and servicing, regulatory compliance as well as relationship building. Therefore the need to provide up-to-date knowledge and insights on this impactful sector.

Rudolf Putz, Head of the Trade Facilitation Programme, EBRD, said, “We highly welcome and support this initiative which might help us to raise awareness of the increasing difficulties of smaller banks and banks in early transition countries to establish correspondent banking relationships with foreign commercial banks.”

Responding to these changes, TFG has developed this hub to centralise pertinent information, making it easily accessible to industry professionals, banks, financial institutions, and trade finance practitioners worldwide.

The hub offers content in a wide range of formats, including articles, podcasts, and videos, covering various aspects of correspondent banking, such as market trends, regulatory developments, risk management, compliance, and technology advancements.

Tod Burwell, President & CEO, BAFT, said, “Trade Finance Global has been an important platform for thought leadership in the transaction banking industry, and BAFT is glad to further collaborate with them in support of their Correspondent Banking Hub.”

By leveraging TFG’s extensive network of global experts, thought leaders, and industry professionals, the Correspondent Banking hub ensures that the perspectives and insights from key regions and markets are prominently represented, enriching the discourse and fostering thought leadership in the industry.

Mark Abrams, Managing Director & Global Head of Trade and Receivables Finance, Trade Finance Global said, “Our Correspondent Banking hub is an exciting addition to the Trade Finance Global platform.

“We believe that providing a dedicated hub for this crucial sector will enable professionals to stay updated with the latest industry trends, deepen their understanding of complex topics, and foster meaningful connections within the correspondent banking community.”

In addition to the Correspondent Banking hub, Trade Finance Global continues to enhance its platform, delivering cutting-edge solutions that drive innovation and efficiency in the global trade finance landscape. With a strong commitment to empowering businesses of all sizes, TFG remains at the forefront of bridging the gap between trade finance stakeholders and supporting the growth of international trade.

About BAFT

BAFT, the leading global financial services association for international transaction banking, helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance. Follow Us: @BAFT

TFG Media Contact:
Deepesh Patel
Director, Public Relations
[email protected]
+44 (0) 7507-398018

June 5, 2023 by [email protected]

The Clearing House Payments Company L.L.C. (“TCH”), the American Bankers Association (ABA), and BAFT (Bankers Association for Finance and Trade) (together the “Associations”) submitted a joint comment letter on the proposed ISO 20022 harmonization requirements for enhancing cross-border payments (the “Proposed Harmonization Requirements”) issued by the Committee on Payments and Market Infrastructures (“CPMI”).

The Associations are supportive of the G20 effort to enhance cross-border payments and understand the important benefits that common messaging standards, especially for the ISO 2022 format, could provide for cross-border payments.

At the same time, we believe there are many practical considerations that must be taken into account when developing standards and that without the appropriate balance of flexibility and uniformity, standards can have unintended consequences. We are concerned that overall the Proposed Harmonization Requirements have not struck the right balance and, if finalized and mandated in their current form, would make cross-border payments slower, more expensive, and less accessible than they are today.

Read and/or download the full comment letter below.

May 2, 2023 by [email protected]

WASHINGTON – BAFT, the leading global financial services association for international transaction banking, today announced the graduates of its Future Leaders program class of 2023. The program – now completing its eighth year – recognizes upcoming leaders in the global transaction banking industry. The Future Leader graduates were honored at an in-person ceremony in San Francisco on May 2 as part of BAFT’s 2023 Global Annual Meeting.

Nominated by their respective institutions, the class of 2023 included 38 individuals from 20 countries across six continents representing a variety of disciplines within transaction banking. This year’s group was divided into five project teams to address current industry issues and priorities including developing a hub banking concept, banking in the metaverse, sustainability, fraud in trade finance, and a future of transaction banking business model.

“Congratulations to the 2023 graduating class of Future Leaders,” said Tod Burwell, president and CEO, BAFT. “We are grateful for your impactful work and know that you will continue to drive the transaction banking industry forward through your leadership.”

BAFT congratulates the following graduates from the class of 2023:

Adriana Seidl, Deutsche Bank AG
Adrien Laniau, Société Générale
Ahmad Muhaisen, Arab Bank
Ambar Mardikar, Scotiabank
Amresh Jagessar, ING Bank N.V.
Anathi Mkhize, ABSA CIB
Anna Ries, UniCredit S.p.A.
Beatrice Cheng, Standard Chartered
Celina Andrioti, JP Morgan
Charlotte Fryer, JP Morgan
Colin Allshouse, Bank of America
Dipika Surana, Bank of America
Elcin Onat, Citibank
Haitham Hassan, African Export-Import bank
Ines Weibel, UBS Switzerland AG
Jason Haley, BMO Capital Markets
Johnny Chung, BNY Mellon
Jorge Gomez, BNY Mellon
Marko Motika, StoneX
Maxwell Chesky, MUFG
Melinda Jih, HSBC
Mouloud Bouaziz, Credit Agricole CIB
Natalie Patura, PNC Bank NA
Natasa Pudic, ING Bank N.V.
Neslihan Gökmen, Danske Bank
Nicholas Lewis, Barclays
Paolina Stoilova, Banco Bilbao Vizcaya Argentaria (BBVA)
Pia Reyes, American International Group (AIG)
Rebecca Connor, PNC Bank NA
Sabri Riache, Deutsche Bank AG
Samer Mansour, Housing Bank for Trade and Finance
Sarah Zedar, KeyBank National Association
Sue Ellen Hearn, Royal Bank of Canada
Swati Shahani, Barclays
Tebogo Phosiwa, Rand Merchant Bank
Weaam Muaddi, Arab Bank
Yasemin Ozcan, BNP Paribas SA
Zachary Byrne, Deloitte

For more information on the Future Leaders program, including eligibility requirements, timing, and access to the project team research papers, please visit BAFT.org. The application submissions for the class of 2024 will start in late summer/early fall.

About BAFT

May 1, 2023 by [email protected]

Announced at the 2023 Global Annual Meeting in San Francisco, CA on May 1, BAFT is pleased to recognize the following individuals for their tireless commitment and contribution to the success of association and its work.

To publicly acknowledge individuals from member organizations who have volunteered their time and worked tirelessly with the association throughout the prior association calendar year, BAFT annually awards select members with the BAFT Ambassador of the Year Award.

Ambassadors of the Year are individuals representing member organizations recognized by BAFT on an annual basis. Following nomination submissions, annual honorees are chosen following a weighted voting process by BAFT staff.

Officially announced at the 2023 Global Annual Meeting, BAFT is honored to recognize the following individuals for the invaluable assistance they have provided to the association throughout the past year and for helping to continually drive the mission and vision of the organization forward.

· Baishali (Poppy) Biswal, Vice President, Senior Relationship Manager, Key Bank N.A.

· Okechukwu Ihejirika, Senior Manager, Trade Services, African Export-Import Bank

· Sabry Salman, Managing Director, Global Head of Financial Institutions & FinTech’s (Non-Bank PSPs) Barclays

We would like to thank each of the awardees for their time and recognize their organization’s commitment to the advancement of transaction banking. Each honoree has been recognized respectively for their contributions to the advancement of sustainability and support of the association’s work in the Middle East; leadership in the LIBOR Transition Working Group and Future Leaders Program; and development of BAFT education and training programs.

Honorees received their official awards at the BAFT Ambassador of the Year awardee ceremony in San Francisco, CA on May 1, 2023.

May 1, 2023 by [email protected]

WASHINGTON — BAFT, the leading global financial services association for international transaction banking, has announced that Suresh Subramanian of BNP Paribas will serve as the chair of its board of directors for the 2023-2024 association year.

Suresh Subramanian is managing director and head of transaction banking for the Americas at BNP Paribas. Based in New York, Suresh is responsible for business strategy, product management and sales across North and South America.

“After many years of service to the BAFT board of directors, I am honored to continue that work as chair for the upcoming association year,” Subramanian said. “I look forward to collaborating with my fellow officers and board members as we work to advance the goals and priorities of the transaction banking industry.”

Suresh has held several roles throughout his 30-year tenure with BNP Paribas including lead positions in New York, Paris and India for transaction and corporate banking. He also serves on several boards and committees within the bank, including as a member of the Leadership Committee for CIB Americas, a member of the Global Strategic Board for Transaction Banking and Correspondent Banking, a member of the Asset and Liability Committee for CIB Americas, and the Executive Champion for the bank’s Asian Business Networking Group.

BAFT board officers include:

Vice Chair: Nick Smit, ING
Secretary / Treasurer: Michelle Knowles, ABSA

Other directors include:

Maram Al-Jazireh, Arab Bank
Eddy Almonte,Bank of America
Rana Beydoun, Commerical Bank of Dubai
Tod Burwell (CEO), BAFT
Dyanne Carenza, Scotiabank
Mark Doctoroff, MUFG
Derryn Faure, Investec
Jean-Francois Mazure, Societe Generale
Patrick Havander, Visa
Darryl Hendricks, UBS
Maurice Iskander, Banque Libano-Française
Ayaz Kamlani, First Abu Dhabi Bank
John Kinyangi, Standard Bank Group
George Lee, Standard Chartered Bank
Sriram Muthukrishnan, DBS Bank
Miriam Ratkovicova, Deloitte
Amy Sahm, Fulton Bank
Sabry Salman, Barclays
Karin Walchshofer, BMO (Bank of Montreal)
Peter Zotos, JPMorgan Chase
Aaron Zynczak, First Citizens Bank

About BAFT
BAFT, the leading global financial services association for international transaction banking, helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance. The association website is www.baft.org.

April 6, 2023 by [email protected]

BAFT recently formed the Global Regional Bank Council to bring regional banks – those with total assets of USD$250bn or less, regardless of geographic location – together as a community to discuss issues that matter most to this group and amplify their collective voices. Joy Macknight from The Banker sat down with our very own board chair, Maram Al-Jazireh, SVP and Global Head of Financial Institutions at Arab Bank, for a closer look at the new council, and top-of-mind issues of regional banks today.

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