Innovation
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Bringing Finance into the Digital Age
As a worldwide forum for analysis, discussion, and advocacy in international financial services, BAFT supports new technologies for trade and cash management products, with a focus on distributed ledger technology (DLT), blockchain, and artificial intelligence (AI) in transaction banking.
The BAFT Innovation Council is a body of experts who look at emerging technologies, track use cases beneficial to the transaction banking industry, and engage with policymakers to advance responsible innovation.
We continue to engage with policymakers on the need to rationalize laws and regulations to best address emerging technology and business models that affect financial services worldwide.
MLETR and the Shape of Things to Come
November 2021 could prove hugely significant in providing a window into the future of global trade, following the completion of a test pilot between Abu Dhabi Global Market (ADGM) and Singapore’s Infocomm Media Development Authority (IMDA), the first trade finance transaction conducted in adherence to the United Nations Commission on International Trade Law’s (UNCITRAL) Model Law on Electronic Transferable Records (MLETR).
With much anticipation surrounding the concept of electronic trade documents being given the same legal standing as their paper-based counterparts – breaking down a crucial barrier to end-to-end trade digitalization – watch this on-demand session at GTR MENA 2022 featuring insights from BAFT, Emirates NBD, ITFA, TFD Initiative, and the World Trade Organization.
Our Priorities
- Artificial Intelligence
- Blockchain
- Central Bank Digital Currencies
- Distributed Ledger Technology
- Trade Digitization
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Our Experts
Scott Stevenson
Senior Vice President, Trade
Contact: [email protected]
