Supply Chain on SWIFT - Newsletter Q1 2014. PDF Print E-mail
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Monday, 03 February 2014 15:49

Dear Trade and Supply Chain professionals,

Happy New Year to all of you in the trade industry. SWIFT’s global Corporate and Supply Chain team looks forward to progressing the roll-out of our collaborative technology innovations in the Corporate market during the new year.

2013 was marked with important decisions from industry organisations and early commercial moves from banks and corporates. The initial implementations illustrate the Corporate benefits of our flagship industry innovations such as the multi-bank standards for documentary trade (MT 798) and the new ISO 20022 payment instrument for securing and financing trade transactions (BPO).

2014 will be the year for more banks and corporates to benefit from such recent developments. To this end, we will focus on developing industry-specific Corporate value propositions and engage early adopters in that process. We will also combine SWIFT’s messaging solutions and ICC’s payment instruments with 3rd party innovations such as Electronic Shipping Solutions (ESS) CargoDocs, which digitizes shipping and trade documentation in the corporate-to-corporate space.

We are happy to share the latest facts and figures on the roll-out of those innovations and other key trade-related SWIFT news:

Rollout of the MT 798 standards for Letters of Credit and Demand Guarantees

20+ banks are live on the MT 798
10+ corporates are live on the MT 798
Latest testimonial: The Volvo Group joins SWIFT to increase competitiveness
All leading trade vendors are certified by SWIFT

Rollout out of the ISO 20022-based Bank Payment Obligation instrument

18 of the top20 trade banks are adopting the BPO, half of them are either live or ready for live
146 banks are connected to the Trade Services Utility representing 83 banking groups
25 corporates are live on BPO, mainly in Asia Pacific
Latest testimonial: PTT runs BPO from Thailand to Dubai

Recent news: Banks in BPO charge for 2014
Syrtals and TradeWiz are the two first SWIFT certified trade consultancies
TSU and BPO in 90 minutes web classes now available in Spanish and Portuguese too

Recent trade-related SWIFT news

RMB breaks into the top ten most-used currencies for payments
SWIFT announces KYC Registry and dedicated Financial Crime Compliance unit
SWIFT announces 2013 rebate of EUR 33 million
RMB now 2nd most used currency in trade finance, overtaking the Euro
SWIFT Index anticipates a strong start to 2014 for the UK and US economies

Africa white paper highlights transaction banking trends

We look forward to meeting you at the following trade events

Middle East Trade Finance Week 2014, Dubai, 25-26 February (*)
Next Generation Technology in Trade Finance by ICC RBC MENA and Dubai Chamber, Dubai, 26 February (*)
Eurofinance Working Capital Optimisation Using Alternatives Sources for Supply Chain Finance, London, 26 March
ICC Banking Commission Meeting, Dubai, 27-30 April
BAFT-IFSA Annual Conference - The Americas, La Jolla, CA, 4-7 May
SWIFT EMEA Trade and Supply Chain User Conference, London, 21-22 May
Europe Trade Finance Week 2014, Hamburg, 11-13 June (*)
2nd Annual North America Trade & Export Finance Conference, New York, 19 June (*)
ICC UK BPO Seminar, London, 9 July
Asia Trade Finance Week 2014, Singapore, 9-11 September (*)
Sibos Corporate Forum, Boston, 1-2 October
Eurofinance International, Budapest, 15-17 October
(*) Limited number of free corporate passes for treasurers, credit managers and CFOs available. Contact GTR at gnaughton@exportagroup.com for details.

We also seek out to pursuing the fruitful exchange of expertise and opinions on the open Supply Chain on SWIFT LinkedIn Group.

 

SWIFT's Corporate and Supply Chain team
Read: Sibos Corporate Forum wrap-up report
Visit: www.swift.com/corporates
Contact: swiftforcorporates@swift.com supplychain@swift.com
Join: SWIFT for Corporates Supply Chain on SWIFT

 

Source: FACTORing PRO

 

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