Press Releases

On August 17, BAFT published its 2020 Annual Review Digest covering major activities and achievements for FY2019-2020 including advocacy issues, industry initiatives, thought leadership, educational offerings, events, membership statistics, and more.

The challenges of 2020 have led us all to quickly shift our priorities and methods of operation. Much of the value of BAFT is rooted in personal engagement in various markets. However, we managed to keep our community connected virtually and hosted 29 educational offerings ranging from in-person workshops and conferences to online training, webinars, and virtual events.

Prior to the COVID-19 pandemic, the association hosted workshops in three new countries including Côte d’Ivoire, Madagascar and South Korea; as well as traditional in-person events in Beijing, Chicago, Frankfurt, London, Mumbai, New York, Singapore, and Toronto. Since March 2020, BAFT has offered a range of virtual events, which resulted in a three-fold increase in our global event attendance.

We expanded our membership footprint and welcomed 25 new members including 17 banks and 8 solution providers; several of which represent new countries in the BAFT global community including Afghanistan, Belize, Cambodia, Djibouti, Oman, and Taiwan. With 284 members, BAFT membership now collectively represents 63 countries spread across six continents.

Our policy and subject matter experts have continued to drive forward a broad list of issues most important to our members and delivered advocacy wins covering AML Framework Reform, Correspondent Banking De-Risking, Cross-Border Payments, IBOR Transition, Reauthorization of U.S. EXIM Bank, and Supply Chain Finance Practices to name a few. Throughout the year, we continued to promote thought leadership and produced 11 white papers related to trade, innovation, payments, regulation, and transaction banking.

This past year saw BAFT launch two leadership councils to provide additional structure and guidance in member services: the Africa Council covering sub-Saharan Africa and the Global Payments Industry Council covering treasury, cash management, and payments. We also stood up new working groups to address industry issues and developments including the Buna regional payment platform, cross-border instant payments, supply chain payables finance, and RMAs.

We appreciate the continued support, engagement and commitment of our members and staff. You may view or download the 2020 BAFT Annual Review Digest here.

Please feel free to contact us at [email protected], [email protected] or [email protected] based on your inquiry.

On June 11, BAFT announced it has created a regional council to provide guidance and leadership for member services in sub-Saharan Africa. The council will bring together senior transaction banking leaders from organizations across Africa, looking to address common challenges in trade, payments, liquidity, regulations and innovation.

WASHINGTON — BAFT announced today it has created a regional council to provide guidance and leadership for member services in sub-Saharan Africa. The council will be led by co-chairs Ihunanya Onuoha of Access Bank PLC (Nigeria), and Kevin Holmes of Standard Bank (South Africa), who will also serve on the BAFT Board of Directors.

Onuoha is the group head of corporate operations for Access Bank, with more than 25 years of experience in domestic, international banking operations and trade finance.

“Access Bank prides itself in being at the forefront of positive change, driving innovations in the financial services sector as well as setting standards for sustainable business practices in all the markets that we serve,” said Onuoha. “We are delighted to join BAFT in promoting and pushing innovation in the global space, increasing impact in the financial services sector through the formation and implementation of policies geared towards improving financial services globally.”

Holmes, head of trade product management, worked with BAFT for several months to establish initial plans for the council.

“I am honored to be part of the BAFT team, having worked with the council in various capacities during my tenure in trade finance,” said Holmes. “As African economies start the process of recovery, I am optimistic that through the Africa Free Trade Agreement, underpinned by the guidance and collective experience within the BAFT Africa Council, the region will exit this pandemic stronger. Standard Bank is taking a leading role in realizing the scale of this opportunity and we remain committed to playing a more meaningful role in addressing the growing trade finance gap.”

The council will bring together senior transaction banking leaders from organizations across Africa, looking to address common challenges in trade, payments, liquidity, regulations and innovation. Topics such as capital treatment for trade finance, transition from LIBOR, payments innovation, and de-risking in correspondent banking are among the various concerns of organizations in the region.

BAFT maintains regional councils in Asia, Europe, the Middle East & North Africa and North America to enable the transaction banking community to best leverage the association to address issues within the local region.

“We are delighted to re-establish the Africa Council to ensure proper engagement of one of the increasingly important regions for trade, payments and innovation,” said Tod Burwell, president and CEO, BAFT.

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
[email protected]
+ 1 (202) 663-5468

Follow us on Twitter: @BAFT
Follow us on LinkedIn: BAFT

On May 21, BAFT announced the graduates of its Future Leaders Program class of 2020 whose research presentations and papers are now available online.

WASHINGTON – BAFT, an international financial services association, today announced the graduates of its Future Leaders Program class of 2020. The program – now completing its fifth year – recognizes upcoming leaders in the global transaction banking industry.

Nominated by their respective institutions, the class of 2020 included 30 individuals from 14 countries and a variety of disciplines within transaction banking. This year’s group was divided into four project teams to address current industry issues including the impacts of SWIFT gpi, the profitability of sustainable finance, IBOR transitions and a comparison of faster payments systems globally.

“We are very proud of this year’s class of future leaders,” said Tod Burwell, President & CEO, BAFT. “They were able to collaborate and adapt through this unprecedented crisis to achieve their goals, producing high quality content and thought leadership for our members.”

The Future Leaders webinars and research papers are available for all BAFT members online here. Due to the global COVID-19 pandemic, the formal graduation ceremony has been postponed and will be held at the 2020 BAFT International Convention on November 15 in Orlando, Florida.

BAFT congratulates the following graduates from the Class of 2020.

• Suzan Al (Imam) Husseini, Arab Bank
• Caitlin Blasi, CoBank
• Carla Dodds, Banco Santander
• Fadel Elassa, Standard Chartered Bank
• Maria I Galvez, BBVA
• Brian Goldwasser, Commerzbank
• Andrew Hale, ANZ Banking Group
• David Hehlen, UBS
• Lewis Heptonstall, Wells Fargo Bank
• Adrian Hofer, Credit Suisse
• Venkata P Javaji, Visa
• Tarun Khosla, Citibank
• Kamna Krishnan, BMO
• Alfred Lam, Shanghai Commercial Bank
• Jing Wei Joel Lim, Bank of America
• Steven Liu, HSBC
• Tania Markovic, Royal Bank of Canada
• Lee Phahladira, Rand Merchant Bank
• Harro Prins, ING Bank
• Luis Quilico, UniCredit
• Alexander Rakhmanin, Société Générale
• Yasminie Ramos, Barclays
• Harsh Shah, Deloitte Transactions and Business Analytics
• Terence Tan, BNY Mellon
• Akshat Tiwari, MUFG
• Huy Tran, BNP Paribas
• Niels Brand Van Duinen, INTL FCStone
• Michael Walker, Finastra
• Hebe Wildi, Lloyds Banking Group
• Hoor Yar, Deutsche Bank

BAFT would like to congratulate its board officers on their re-election to the 2020-2021 association year and also welcome new directors Maurice Iskandar, Banque Libano-Française; Robert Mancini, Finastra; Nick Smit, ING; Robert Hostler, JPMorgan; and Michael Vrontamitis, Standard Chartered Bank.

WASHINGTON — BAFT, an international financial services association, announced today Mark Garfield of Zions Bancorporation will serve a second term as the chair of its board of directors for the 2020-2021 association year.

Garfield is the head of global financial institutions at Zions and a long serving member of the BAFT board. He has over 30 years of banking experience, with more than 25 years covering trade finance, foreign exchange and correspondent banking. Garfield has served on the DEC National Advisory Board, Board of the World Trade Center (Utah), and as Chair of the Utah District Export Council.

“I look forward to continuing to serve as the board chair for BAFT,” said Garfield. “In a time of unusual crisis, BAFT continues to support its members by providing thought leadership, best practices, and serving as a global advocate for the transaction banking industry.”

BAFT board officers include:

• Vice Chair: Raffaele Martino, Intesa Sanpaolo
• Secretary / Treasurer: Stephanie Wolf, Bank of America

Other directors include:

• Maram Al-Jazireh, Arab Bank
• Tod Burwell (CEO), BAFT
• Maurice Iskandar, Banque Libano-Française
• Patrick Gmür, Credit Suisse
• Miriam Ratkovicova, Deloitte
• Ulf-Peter Noetzel, Deutsche Bank
• Robert Mancini, Finastra
• Amy Sahm, Fulton Financial Corporation
• Patricia Gomes, HSBC
• Nick Smit, ING
• Robert Hostler, JPMorgan
• Steve Lotito, MUFG
• Mark Borton, National Australia Bank
• Jonathan Elkins, National Bank of Canada
• Kimberly Burdette, PNC
• Bart Timmermans, Santander UK
• Michael Vrontamitis, Standard Chartered Bank
• Tarik Muzaffar, TD Bank
• Christian Stolcke, UBS
• F. H. Ahlborn, US Bank
• Kai Fehr, Wells Fargo

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
[email protected]
+ 1 (202) 663-5468

Follow us on Twitter: @BAFT
Follow us on LinkedIn: BAFT

On January 13, 2020, BAFT announced the Future Leaders Program class of 2020, with 32 individuals from member institutions representing 14 different countries.

WASHINGTON — BAFT, the leading global trade association for transaction banking, announced today its Future Leaders Program Class of 2020. The program – now in its fifth year – recognizes upcoming leaders in the transaction banking industry.

Nominated by their respective institutions, the class of 2020 includes 32 individuals from 14 countries across a variety of disciplines within transaction banking. There are seven member institutions participating for the first time in 2020. This year’s group will be divided into four project teams to address current industry issues including the impacts of SWIFTgpi, the profitability of sustainable finance, IBOR transitions and faster payments systems.

“BAFT is proud to welcome yet another impressive class of transaction banking professionals to the Future Leaders program,” said Tod Burwell, president and CEO, BAFT. “It’s an honor to be recognized by your institution as a leader in the industry, and we look forward to supporting program participants as they work together to address some of the most pressing issues facing transaction banking.”

The class of 2020 will begin the program at BAFT’s Global Annual Meeting-Europe in Frankfurt, Germany and will conclude in May at the BAFT 2020 North America Annual Meeting in Orlando, Florida. Several future leader council members will support the current class as mentors, joining BAFT board members who will again serve as project sponsors.

BAFT congratulates the following individuals who were selected to this year’s program:

• Suzan Al (Imam) Husseini, Arab Bank
• Caitlin Blasi, CoBank
• Carine Cremona, Banque Libano Francaise
• Carla Dodds, Banco Santander
• Fadel Elassa, Standard Chartered Bank
• Maria I Galvez, BBVA
• Brian Goldwasser, Commerzbank
• Andrew Hale, ANZ Banking Group
• David Hehlen, UBS
• Lewis Heptonstall, Wells Fargo Bank
• Adrian Hofer, Credit Suisse
• Venkata P Javaji, Visa
• Tarun Khosla, Citibank
• Kamna Krishnan, BMO
• Alfred Lam, Shanghai Commercial Bank
• Jing Wei Joel Lim, Bank of America
• Steven Liu, HSBC
• Lynn Malka, J.P. Morgan
• Tania Markovic, Royal Bank of Canada
• Lee Phahladira, Rand Merchant Bank
• Harro Prins, ING Bank
• Luis Quilico, UniCredit
• Alexander Rakhmanin, Société Générale
• Yasminie Ramos, Barclays
• Harsh Shah, Deloitte Transactions and Business Analytics
• Terence Tan, BNY Mellon
• Akshat Tiwari, MUFG
• Huy Tran, BNP Paribas
• Niels Brand Van Duinen, INTL FCStone
• Michael Walker, Finastra
• Hebe Wildi, Lloyds Banking Group
• Hoor Yar, Deutsche Bank

Learn more about BAFTs Future Leader Program here.

Europe’s leading bank-to-bank forum to be held Jan. 13-15 in Frankfurt, Germany.

WASHINGTON — From high-level sessions featuring global transaction banking leaders to a showcase highlighting emerging platforms in the cross-border international payments space, BAFT’s 2020 Global Annual Meeting – Europe will bring together more than 250 senior banking and financial services professionals for Europe’s leading bank-to-bank forum. During the conference – which will be held Jan. 13-15, 2020 in Frankfurt, Germany – leading experts will address the most important topics and trends that will shape the banking industry in the coming decade.

The three-day event will feature a keynote address by Dr. Beata Javorcik, chief economist of the European Bank for Reconstruction and Development (EBRD), who will examine the key changes affecting international trade in the next 10 years. In addition, a keynote fireside chat featuring Yves Mersch, member of the executive board and vice chair of the supervisory board of the European Central Bank, will look at the future of the European banking industry and key issues for European banks in the next decade.

This year’s conference co-chairs are Ulf-Peter Noetzel, chairman of trade finance-financial institutions at Deutsche Bank and Stephen Everett, head of payments and global transaction banking at Lloyds Banking Group. As co-chairs Noetzel and Everett lead discussions with fellow committee members to determine content and set programming for the conference.

“Frankfurt is the ideal location to host the 2020 Global Annual Meeting given the city’s established financial sector, and the increasing role it is playing on the continent with major banks moving staff to the city after the announcement of Brexit,” said Noetzel.

“In hosting this conference, BAFT plays a tremendously important role bringing together Europe’s leading bankers to discuss the future of the European banking industry,” said Everett.

The conference will feature more than 13 sessions covering cross-border payments, trade finance, IBOR transition, compliance, instant payments, cybersecurity, transaction banking and more.

In cooperation with Global Finance, the conference will close with the awards ceremony for the Trade and Supply Chain Finance Awards 2020 presented by Global Finance. Global Finance will name the best bank for trade finance globally and eight global regions, as well as the best banks in various service categories, such as document management and export finance. The supply chain finance awards will include winners in nine global regions, as well as global winners for supply chain financing, customer implementation, and other categories.

For the first year, the entirety of the Global Annual Meeting-Europe is open to members of the press. Media should contact Blair Bernstein at [email protected] in order to register for the event.