FOR IMMEDIATE RELEASE
March 8, 2013
BAFT-IFSA Media Contact: Meghan French
BAFT-IFSA DISCUSSES INNOVATION DURING ASIA BANK FORUM IN HONG KONG
WASHINGTON – BAFT-IFSA, an international financial services association, recently concluded its Asia Bank to Bank Forum, an event that drew senior participation from a cross-section of domestic, regional and international banks, as well as government and technology practitioners. The forum, which focused primarily on transaction banking, was organized by BAFT-IFSA’s Asia Council and took place March 6-7 in Hong Kong.
Asian banks are building powerful transaction banking capability in their region, and the forum brought them together to consider topics including the changing economic drivers of trade and commerce flows, regulation in the post global financial crisis period, innovation, sustainability, regulation and the role of technology and social networking in the evolution of payments and trade business.
“Growth will continue, but asymmetrically, as seismic shifts in demographics, the environment, technology, regulation and socioeconomic power fundamentally change the dynamics of the marketplace and our business,” said Alex Holcomb, co-chair of BAFT-IFSA’s Asia Council and group general manager of global transactional services for Westpac Banking Corporation.
The content combined global perspectives with “in the moment” local issues Asian banks face as they build businesses across the region. Operating under Chatham House rule, the discussion was open and collaborative.
“BAFT-IFSA has a special role to play in providing a mechanism for tackling the big questions facing our industry. Exchanges, like this one in Asia, advance the dialogue and offer significant business opportunity for organizations facing increasingly complex economic, regulatory and sustainability challenges in one of the most dynamic regions in the world,” said Jeremy Wilson, chairman of BAFT-IFSA and vice chairman of Barclays Corporate Bank.
BAFT-IFSA is the leading global trade association for International Transaction Banking. It helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. Learn more at BAFT-IFSA.com.