BAFT Releases New White Paper on Deep-Tier Supply Chain Finance

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WASHINGTON – BAFT, the leading global financial services association for international transaction banking, and the Asian Development Bank (ADB) today released a new white paper, Deep-Tier Supply Chain Finance: Unlocking Potential, which highlights the potential for deep-tier supply chain finance (DTSCF) to bridge the trade finance gap, drive liquidity to the most underserved segments of the trade market and enhance visibility within global supply chains.

Deep-tier supply chain finance is an innovative financial solution with the potential to unlock financing for deeper tier suppliers, where small and medium-sized enterprises (SMEs) are prevalent, by allowing access to finance by leveraging the credit risk of the anchor buyer. DTSCF not only unlocks finance at favorable rates for deeper tiers in a supply chain, but it also promotes an ecosystem of financial stability, risk management, and sustainability throughout the entire supply chain.

BAFT and ADB developed this white paper to provide a shared view of DTSCF, to outline its features as a new technique in financing trade and supply chains, to define what DTSCF is and what it is not, and to offer necessary definitions and legal frameworks to make it a success at scale.

“We’re pleased to have been able to build on the initial work done by ADB on this subject to help identify the key considerations to successful deployment of deep-tier supply chain finance, which can be a useful tool to help address the persistent trade finance gap,” said Tod Burwell, president and CEO, BAFT.

“Deep-tier supply chain finance is an exciting innovation that has the potential to drive greater resilience in supply chains and unlock the potential for SME-led economic growth, job creation, and prosperity,” said Steven Beck, ADB’s Head of Trade and Supply Chain Finance Program. “The publication details the next steps required to overcome the challenges in scaling this innovation and we’re excited to tackle these with our public and private sector partners.”

Click here to read BAFT’s Deep-Tier Supply Chain Finance. The white paper is also available within BAFT’s Library of Documents under the Guidance and Industry Practices section.

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.

BAFT Media Contact:
Blair Bernstein
Senior Director, Public Relations
[email protected]
+1 (202) 663-5468

Follow Us: @BAFT

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BAFT has launched its Women in Transaction Banking (WTB) initiative during its 2024 Global Annual Meeting in Orlando.

Via Trade Finance Global by Brian Canup

BAFT, the leading global financial services association for international transaction banking, has launched its Women in Transaction Banking (WTB) initiative during its 2024 Global Annual Meeting in Orlando.

The BAFT WTB initiative was established to promote gender diversity and inclusion within the transaction banking industry. The program, which aims to foster an environment where women can thrive and excel, will provide a platform for networking, mentorship, and professional development opportunities tailored specifically for women in transaction banking.

“At BAFT, we recognize the importance of gender diversity in driving innovation and success in the transaction banking sector,” said Deepa Sinha, vice president, payments & financial crimes, BAFT. “The launch of the Women in Transaction Banking initiative reaffirms our dedication to advancing the careers of women professionals in our industry and creating a more inclusive and equitable future.”

The program’s unveiling was held during the BAFT Global Annual Meeting, as it brings together industry leaders, policymakers, and stakeholders from around the world to discuss the latest trends, challenges, and opportunities in transaction banking.

As part of the WTB initiative, BAFT will organize a series of networking events, webinars, and a robust mentorship program designed to connect women in transaction banking and enhance their industry-relevant skills. Additionally, WTB will collaborate with member institutions and industry partners to drive meaningful change and promote gender equality throughout the transaction banking ecosystem.

“We are excited to launch the Women in Transaction Banking initiative and look forward to working closely with our members and partners to advance the representation and leadership of women in our industry,” Sinha said.

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Via Global Trade Review by Shannon Manders

BAFT (Bankers Association for Finance and Trade) has launched a Women in Transaction Banking initiative to promote gender diversity and inclusion within the industry.

BAFT’s Women in Transaction Banking (WTB) programme will provide networking, mentorship and professional development opportunities for women professionals to enable them to thrive in transaction banking roles, the association says.

“By addressing the gender gap in the industry, we aim to foster innovation, drive profitability, attract more talent and create a more inclusive environment within transaction banking,” it says.

Deepa Sinha, BAFT’s vice-president of payments and financial crimes, will oversee the initiative as secretariat. Under her guidance, a governance council is being formed, currently consisting of 18 women from around the world who will drive the programme’s activities.

Sinha tells GTR that the council will gather in the coming weeks to appoint leadership positions and establish the framework for the mentorship programme as its primary focus.

The initiative was formally launched last week at a WTB breakfast meeting during BAFT’s Global Annual Meeting in Orlando, Florida. Meeting attendees engaged in informal group discussions covering topics such as unequal pay, microaggressions and biases, and strategies for career advancement.

“We see women enter trade and cross-border payments, and as some rise through the ranks, others fall away. There’s a lot of attrition. Often, the reasons for that are because they don’t have a clear career path, they may face obstacles, and they may not have a mentor or someone who can give them the guidance that they need. They may not find assistance within their organisations or have the required skill set,” said Sinha, speaking on the sidelines of the event. “I want WTB to fill that gap.”

WTB is open to women at all levels of their careers, from all of BAFT’s member organisations.

“This initiative is intended to be driven by our members, mirroring the structure of our other councils and committees,” said Sinha. “These bodies exist for the benefit of our members and are shaped by their input.”

Commenting on the initiative, Caryn Pace Messenger, managing director, global trade and supply chain finance at Bank of America and member of the WTB council, tells GTR: “BAFT continues to impress with the launch of the WTB, which will strengthen our community by providing women with opportunities to expand their industry connections and amplify our collective voice through the global Baft network. This is really exciting.”

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WASHINGTON – BAFT, the leading global financial services association for international transaction banking, has named Andrew Price as its new vice president of international policy. Price will lead the association’s international policy advocacy efforts and relevant councils and committees. 

“We are delighted to welcome Andrew to the BAFT team,” said Tod Burwell, President & CEO of BAFT. “His legal background coupled with his international advocacy experience will serve him well in this role and we look forward to working alongside him.”

Prior to joining BAFT, Price was senior vice president of advocacy and general counsel for the World Council of Credit Unions. In that role, he led the group’s global advocacy before various international standard setting bodies, including the Basel Committee, Financial Stability Board, Financial Action Task Force, and others. He simultaneously served as an adjunct professor for Florida State University’s College of Law. Price also held positions with the Credit Union National Association, First Commerce Credit Union in Tallahassee, Fla. and the state’s Office of Financial Regulation.

Price earned his bachelor’s degree from the University of Central Florida and his J.D. from Nova Southeastern University.

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.

BAFT Media Contact:
Blair Bernstein
Senior Director, Public Relations
[email protected]
+1 (202) 663-5468

Follow Us: @BAFT

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WASHINGTON – BAFT, the leading global financial services association for international transaction banking, today announced the graduates of its Future Leaders program class of 2024. The program – now completing its ninth year – recognizes upcoming leaders in the global transaction banking industry. The Future Leader graduates were honored at an in-person ceremony in Orlando on May 7 as part of BAFT’s 2024 Global Annual Meeting.

Nominated by their respective institutions, the class of 2024 included 39 individuals from 16 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 a resource guide for digitization in trade, a client due diligence questionnaire for ESG, harnessing the power of generative language models to transform transaction banking, B2B payments and the G20 FSB payments report, and human resources challenges post pandemic.

“Congratulations to the graduates of the Class of 2024 Future Leaders,” said Tod Burwell, president and CEO, BAFT. “We are thankful for your contributions and for the opportunity to play a small role in helping expand your engagement across the industry. We look forward to seeing your continued leadership growth.”

BAFT congratulates the following graduates from the class of 2024:

  • Adolfo Canales, StoneX
  • Alyazia Bin Suwaidan, Commercial Bank of Dubai
  • Amin ur Rehman, Standard Chartered Bank
  • Amro El-Far, Arab Bank
  • Ana Laura Contelli, American International Group (AIG)
  • Angel Spanos, PNC Bank
  • Anjana Mary Menasis, Surecomp
  • Antonio Muñoz, Deutsche Bank
  • Astrid Perrin-Megret, BNP Paribas
  • Bridget Bonilla, BNP Paribas
  • Cameron Stanton, Lloyds Banking Group
  • Carolina Gonzalez Marino, UBS
  • Christian Khouri Chalouhi, Intesa Sanpaolo
  • Christophe Bock, Société Générale
  • Christopher Finan, BNY Mellon
  • Daniel Vallance, RBC Capital Markets
  • Diego Puron Kelleher, Banco Mercantil del Norte SA (Banorte)
  • Frank Burgman, Barclays
  • Giovanni Paolini, UniCredit
  • Grayson Prickett, First Citizens Bank
  • Hilary Freedenberg, HSBC Bank USA
  • Iris Chen, ING Bank N.V.
  • Jagoda Dul, Citibank
  • Jialing Li, Deloitte
  • Jose Reynoso, Umpqua Bank
  • Kaylee Karumanchi Lord, Bank of America
  • Kubra Guler, Bank of America
  • Lianlian Zhao, BNY Mellon
  • Maria Fernanda Quevedo, Deutsche Bank
  • Michael Chong, Standard Chartered Bank
  • Mónica Dörr, Banco Santander
  • Natalija Katic, Banco Santander
  • Oskar Jerrå, Skandinaviska Enskilda Banken (SEB)
  • Pablo de Bacco, ANZ Banking Group
  • Patrick Wodetzki, Crédit Agricole CIB
  • Petra Gross, UniCredit
  • Sarah Bachwitz Mruk, HSBC Bank USA
  • Sivine Halwani, JP Morgan Chase Bank
  • Tommy Babos, Barclays

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

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.

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Officially announced at the 2024 Global Annual Meeting, BAFT is honored to recognize the following individuals as Ambassadors of the Year for their invaluable contribution to the association and for continuously driving the mission and vision forward.

  • Kenneth Wong, Director, Global Transaction Banking, TD Bank
  • Renata Vilanova Lobo, Managing Director & Global Clearing Head of Payments, JP Morgan
  • Amy Sahm, Senior Vice President and Manager, International, Fulton Bank
  • Brian Gordon, Senior Vice President and Manager, International Banking, Commerce Bank

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

We would like to thank each of the award recipients for their dedication and recognize their organization’s commitment to the advancement of transaction banking.

Honorees received their official awards at the 2024 Global Annual Meeting.