Driving trade efficiency through SWIFT
Corporations of all sizes are expanding their trade and supply chain networks into new territories. Maximising the speed, certainty and efficiency of trade transactions is essential to global trading success. Digital trade, replacing the manual trade finance processes of the past, with settlement often delayed by days or weeks, is a key way to achieve this.
SWIFT’s Bank Payment Obligation (BPO) is a digital instrument for cross-border trade that uses ISO 20022 formats and facilitates automated matching and rapid settlement, as an alternative to trade instruments.
MT978 message is a multi-bank standard for corporate-to-bank documentary trade flows, such as letters of credit and demand guarantees, replacing lengthy, paper-based processes.