According to Euromoney’s Trade Finance Survey 2018 on usage of digital trade finance products, Swift’s MT798 standard was rated the highest with 28% usage, while the Bank Payment Obligation (BPO) came second with 23%. BPO is witnessing an upward swing in its usage as banks realize it as a viable option as they explore new deals in multiple markets. With increasing levels of digitization in trade finance, BPO also is likely to witness higher adoption in the near future.

Digital-world consumers expect banks to securely step up their technology game

elawrobel

Traditional banks must evaluate their place within the payments ecosystem and be open to partnering with FinTechs and third-party developers to drive value collaboratively.

Collaborative Payments Ecosystem Boosts Customer Centricity

elawrobel

Structural changes are spurring payments industry participants to evaluate the future of the business as well as their role in the months and years ahead.

New payments ecosystem key enablers

elawrobel

The Payment Services Directive 2 or PSD2 has been in full force for more than six months, and its impact is being felt not just in the European Union, but across the globe – with several markets, such as Singapore, Australia, and Nigeria, as well as Hong Kong announcing open banking initiatives inspired by the PSD2

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