Digital alternatives to traditional trade instruments
As global trade moves to open account terms, digital communications can bring greater efficiency and reliability across trade and supply chain solutions.
Our trade digitisation solutions can help you reduce risk, enhance the efficiency of your processes and improve liquidity management.
- The Bank Payment Obligation (BPO) is a digital instrument which supports trade settlement using ISO 20022 data structures and automated matching.
- The MT 798 message is a multi-bank standard for automating corporate-to-bank documentary trade flows, such as letters of credit and demand guarantees.
To learn more about digital trade finance, speak to your bank to find out which services they support. Or use our Bank Readiness portal to identify banks which support the relevant solutions.
MT 798: a single message to communicate with all your trade banks
MT 798 is a standardised format for communicating with all your trade banks, supporting import/export letters of credit and guarantees.
The Bank Payment Obligation (BPO)
A new trade settlement instrument, the BPO uses ISO 20022 data structures and provides the security associated with letters of credit.
Trade Services Utility (TSU)
The TSU is a centralised matching and workflow engine which enables the accurate matching of structured data – facilitating value-added supply chain services.