Digitising Trade Finance Facilitating trade finance digitisation through technology-based messaging and legal industry standards
SWIFT’s Corporate and Supply Chain Market Management team [email protected]
July 2016 Corporates are driving the Trade Digitisation agenda
B2B space moves fast to eCommerce platforms Business to ̶ More efficiency in the business-to-business space Business ̶ e-invoicing, purchase-to-payment & shipping documentation platforms connecting buyers and suppliers
MNCs adopt multi-banking trade finance solutions
C2B
̶ Advanced bank-agnostic trade software solutions C2B ̶ Trade finance workflows and industry standards ̶ Cloud technologies accelerating roll-out
Banks start to modernise inter-bank practices Bank to Bank ̶ Using ISO 20022 messaging standards and ICC rules ̶ Correspondent relationships to focus on core markets
[email protected] 2 Regulators and industry associations are promoting Trade Digitisation too
INDUSTRY LEGAL SWIFT INDUSTRY SWIFT MESSAGING INSTRUMENT RULES AND MARKET STANDARD SERVICE PRACTICE
MT 7xx Letter of Credit (LC) FIN MT 798 UCP 600 / eUCP
Bank Payment ISO 20022 tsmt Trade Services Utility Obligation (BPO) URBPO 750
MT 7xx Demand Guarantee FIN MT 798 URDG 758 Single European Payments Area ISO 20022 FileAct Credit Transfer / pain pacs camt Direct Debit (SEPA)
Cross-border MT 103 SWIFT FIN service FIN [email protected] MT 9xx description 3 SWIFT is committed to facilitating trade and trade finance digitisation
A network of networks Business to ̶ Trade hubs connect with banks via SWIFT to trigger trade Business finance and payments processes – essDOCS is first adopter
Bank communication at global level is the key C2B ̶ All leading trade finance vendors are certified on SWIFT’s
trade finance standards and connectivity
C2B
̶ Corporates can optimise use of cloud thanks to Lite2 for Business Applications – GTC is first adopter
Re-wiring the banking system for trade finance Bank to Bank ̶ SWIFT and ICC have rolled out ISO 20022 messaging standards to digitise correspondent banking practices for trade finance
[email protected] 4 Industry standards support end-to-end payments and trade finance flows
MT 798 MT 7XX MT 798 ISO 20022 ISO 20022 ISO 20022
Internet Internet
Buyers Issuing banks Advising / confirming banks Suppliers
Application, Inter-bank flows Advice, confirmation, amendment, … amendment, …
Automate workflow of the trade and payment life cycle to reduce cost Streamline the L/C, Guarantees, BPO and payment transactions Move to paperless transaction processing when desired
[email protected] Accelerate handling of document discrepancies 5 Enhance visibility on credit lines Industry standards enable commercial vendors to co-exist
MT 798 MT 7XX MT 798 ISO 20022 ISO 20022 ISO 20022
Internet Internet
Buyers Issuing banks Advising / confirming banks Suppliers
Application, Inter-bank flows Advice, confirmation, amendment, … amendment, …
Business process-level interoperability between various software solutions Increased choice of vendor solutions in competitive space No need for banks to join multiple vendor portals
[email protected] Reduced technical, operational and legal costs 6 Avoid vendor lock-in Industry standards and technologies address various Corporate needs
Existing paper-based • MT 798 for Letters of Credit and Demand trade finance Guarantees supported on SWIFT’s FIN and FileAct instruments
• ISO 20022 for Bank Payment Obligation New digital trade supported on SWIFT’s Trade Services Utility (bank- to-bank) and FileAct (corporate-to-bank) finance instruments and technologies • Can be combined with electronic bill of lading (by essDOCS)
[email protected] 7 Trade and BPO Messages and Business Flows In Figures
MT 798 20 32 14 13 / 20 Corporates live or Banking groups Banking groups 13 of the top20 trade banks (*) are implementing MT 798 live MT 798 testing MT 798 implementing MT 798
BPO 60+ 21 22 18 / 20 Corporate relationships Banking groups Banking groups 18 of the top20 trade banks (*) are live on BPO live on BPO / TSU testing BPO on TSU reachable on TSU to process BPOs
(*) ranking based on Cat 7 traffic
8 Boston Consulting Group
For now, banks have a choice on how proactively to push MT798, BPO or eB/Ls but, at the minimum, they should build the plumbing to open the tap and turn these on when client demands change. Sukand Ramachandran, Partner and Managing Director, Boston Consulting Group, UK
Click on image to access online copy [email protected] 9 SWIFT & OPUS Advisory – Information Paper
Alexander R. Malaket, CITP, President of Canadian consultancy OPUS Advisory Services International Inc. has worked with SWIFT on this Information Paper
Click on image to access online copy
[email protected] 10 Digitising Trade Finance using MT 798 Facilitating multi-banking in documentary trade finance
SWIFT’s Corporate and Supply Chain Market Management team [email protected]
Corporates adopting the MT 798 standards
20 Corporates live or implementing
[email protected] 12 Drivers for Corporates to adopt multi-banking trade finance solutions
Digitise and automate
Improve internal Consolidate workflow information and control
Accelerate trade Standardise processing bank to be more interface competitive [email protected] 13 (*) ranking based on Cat 7 traffic Banks adopting the MT 798 standards Including 13 of the top20 trade banks (*)
46 Banking groups live or implementing
[email protected] 14 and more … MT 798 Corporate-to-Bank traffic evolution
[email protected] 15 MT 798 adoption Case studies and recent adoption news
Date Recent news
May 2016 Webinar: MT798 - Digitization of Trade Finance Flows with MT798 (Nokia, CA-CIB, Case studies GTC, SWIFT) Mar 2016 Nokia Corporation Expands Use of Volvo: Trade Finance Development @GlobalTrade™ for Alcatel-Lucent Seaboard, GTC & Alliance Lite2: Automating Feb 2016 Kongsberg Selects GTC's Multi-bank Trade processing of Export Documentary Credits Finance Platform and SWIFT Safran, Credit Agricole-CIB and GlobalTrade Oct 2015 Deutsche Bank: SWIFT MT798 – Global Corporation integrated solution for Trade Finance Alcatel-Lucent and Credit Agricole-CIB: Automating Sep 2015 SWIFT MT798 supported by IBAS Demand Guarantees in a multi-bank environment using MT798 Sep 2015 GlobalTrade Corporation (GTC) integrates SWIFT’s Alliance Lite2 with its Multi-bank Trade Finance Platform Dec 2014 BillerudKorsnas selects GTC’s @GlobalTrade Export Document Credit System to manage it s global LC flows [email protected] 16 Testimonials
“Finland as a market is often characterised by a “At Citi, we see real potential in the MT798, “Our primary focus is in the digitisation of dynamic that can be described as “First Mover, which we believe will enable easier, faster and traditional trade, and in this, we view the MT798 Fast Followers”, and in this respect, we have more cost-effective adoption of digitisation as an important enabler of corporate access to decided to move in committed fashion to based solutions for trade financing. The 798 the SWIFT network, and of multibank solutions digitised trade and trade financing, starting with allows corporates to efficiently and affordably which more and more corporates today are implementation of the MT798 which enables the access the global SWIFT network, and presents demanding. We see the business model based use of a global standard in a multibank a useful step ahead in the evolution of trade and on 798 implementation as significantly more environment. The rest of the corporate world, trade financing. There are challenges however, affordable than alternatives in the market, and including the finance function related to other in that the wider context of international rapid deployment options make this even more areas, is advancing, but trade is lagging behind, commerce, including customs clearance and attractive. We aspire to flawless and quick and it is imperative for the banks to innovate and logistics, is still heavily paper-driven, and implementations with corporate clients and are early adopt in this space. We are engaging our demand from the corporate side for advanced working to facilitate and motivate greater bank core banks in this process, and find them technology enabled models has not yet reached adoption of such enablers of digitisation in trade receptive and responsive; it is important a tipping point, partly because of legacy and trade finance, with emphasis on solutions however, for corporates becoming invited and practices and partly because the market does like the 798 that run on the familiar, trusted and actively involved in the process of conceiving not have full visibility on the economics of such bank-friendly SWIFT platform.” new models and solutions for trade: such a transition.” Jacob Katsman, CEO engagement would be helpful to advance both John Ahearn, Global Head of Trade, GlobalTrade Corporation, Canada the MT798 and other digitised solutions as the Citi, USA Bank Payment Obligation, as it will ensure alignment of industry propositions with client needs and expectations” Jari Hanninen Head of Structured Finance, Credit Products, Nokia Networks, Finland
[email protected] 17 Multi-banking trade finance implementations on SWIFT
Rules • ICC Banking Commission's rules
• MT 798 standards Messages • ISO 20022 standards
• Business Identifier Code for banks Identity and corporates (BIC or ISO 9362)
• SWIFT Corporate Environment Channel (SCORE)
• Certified vendors applications Solutions • In-house development
[email protected] 18 SWIFT Certified Applications for Corporates
Click to access website
[email protected] 19 SWIFT Certified Applications for Banks
Click to access website
[email protected] 20 Digitising Trade Finance using ISO 20022 Facilitating multi-banking in supply chain finance to mitigate payment risks and enable financing opportunities using ISO 20022 standards and the BPO
SWIFT’s Corporate and Supply Chain Market Management team [email protected]
Adoption of ISO 20022 for 60+ 18 / 20 BPO in Trade Corporate relationships live on BPO 18 of the top20 trade banks (*) are Finance reachable on TSU to process BPOs 21 68% Banking groups live on BPO / TSU 68% of the top50 trade banks (*) are reachable on TSU to process BPOs 22 80 Banking groups testing BPO on TSU Banking groups reachable on TSU
(*) ranking based on Cat 7 traffic 51 194 [email protected] Countries reachable on TSU Banks (BIC8) reachable on TSU ISO 20022 for BPO brings value in various industries
Chemicals
General Retailers Personal Goods
Mining
Technology Hardware & Equipment
Automobiles & Parts
Food Producers
[email protected] 23 21 banking groups live on ISO 20022 for the BPO Including 7 of the top15 trade banks (*)
(*) ranking based on Cat 7 traffic Banking groups testing BPO on TSU
Banco Santander ING Bank Mandiri J.P. Morgan Bank of America Kasikornbank Bank of Ayudhya (Krungsri) la Caixa Citi Mizuho Crédit Agricole CIB National Australia Bank Danske Bank Rand Merchant Bank Deutsche Bank Samba Financial Group Finansbank Standard Bank of South Africa HSBC Sumitomo Mitsui Banking Corp. (SMBC) Iccrea Banca UBS
Non-live banks with 1 or more established baseline(s) in test
[email protected] 25 ISO 20022 for BPO adoption Case studies and recent adoption news Date Recent news Jul 2016 UniCredit Bank issues the first BPO from Case Studies Romania
UniCredit (2016) May 2016 First BPO transaction for Akank (Turkey)
TEB, TEMSA, ZF and UniCredit Mar 2016 First BPO transaction for ICBC (China)
Commerzbank Nov 2015 Toyota’s Middle East car dealer eyes more BPOs China Merchants Bank and Angel Yeast Oct 2015 BCG Paper: Embracing Digital in Trade BPO accelerates faster trade finance processes at Finance BTMU Aug 2015 Standard Chartered completes first end-to- Bank of Tokyo-Mitsubishi UFJ end electronic transaction in the Middle East automotive sector BNP Paribas Fortis - BP Aromatics Jul 2015 A new Digital Era for Trade (JPMorgan)
Koksan, Isbank, Bangkok Bank, PTTPM Jul 2015 How the digitisation of trade finance is Siam Commercial Bank and PTT Polymer Marketing rocking the boat for banks (ANZ) Apr 2015 First ever CargoDocs BPO Plus (BPO+) ROI for BP Petrochemicals transaction completed successfully Itō Yōkadō, BTMU and Bank of China Mar 2015 First BPO in Italy to replace open account [email protected] 26 (GTR on UniCredit) 2014 Case study: “The first open account BPO”
Japanese importer German exporter Delivery contract (Gearbox and Coupling) and agreement on “BPO at 7 days after TSU data match”
Energy infrastructure New importer – exporter relationship Machine building industry Implemented BPO instead of Advance Payment industry
Obligor bank Processing the first open account BPO Recipient bank - World-wide - Between Europe and Japan - Between a German company and a bank
[email protected] 27 2015 Case study: “Coming from open account”
Turkish importer German exporter Delivery contract (spare parts) and agreement on BPO (sight for exporter; Deferred-Payment for importer)
automotive industry Before they used open account technology industry
Obligor bank Recipient bank
Processing BPO and financing Deferred-Payment for importer
due master loan agreement between the banks; TEB charged importer financing costs
[email protected] 28 2014 Case Study - “Optimisation of internal payment handling processes”
Importer in Frankfurt Exporter in Bangkok
Trade contract and
shipping documents
German SME PTT Polymer Marketing Global merchant, specialising Company Ltd. in polymers, additives
Data for Shipping baseline data sets
Matching of trade data
Frankfurt Recipient Bank Obligor Bank Import BPO
[email protected] 29 2015 April 2015 – First ever BPO with eB/L
1 Delivery contract (Iron Ore) and agreement on BPO as payment method
Commodity / Previously through documentary credit Mining Agriculture industry industry
2 Data for Shipping Release of eB/L eB/L held in escrow baseline 5 3 data sets
TSU URBPO
Obligor 4 Exchanging and matching trade Recipient [email protected] data to create payment obligation Bank 30
2015 First end-to-end electronic transaction in the Middle East automotive sector for Al-Sayer
Importer in Kuwait Exporter Al-Sayer had previously relied on traditional Letters of Credit for trade settlement and was seeking more efficient methods to Automotive reduce the reliance on paper documentation Industry: vehicles Automotive dealer as well as optimise their transaction processing
Obligor bank Recipient bank With automated data matching, BPO removes the risk of subjectivity in the physical examination of documents, thus significantly reducing discrepancy disputes and delays. Al-Sayer will benefit from increased efficiency in trade processing and the assurance of payment to trading partners
[email protected] 31 Corporate Testimonials
The market needs new solutions in support of We are pleased to pioneer this trade innovation In the context of digitisation, our focus currently the efficient conduct of international trade: the in our industry and markets. Delays in receiving is on the Bank Payment Obligation, where we BPO is a perfect instrument, as it allows the title documents, which affect the timely receipt of see potential and the opportunity for creative financial processes to ‘catch up’ in terms of goods, have always been a significant challenge solutions. We have been doing several BPO’s processing time, to the physical movement of for us. With the help of Standard Chartered, we so far, in some instances replacing other trade goods and to the ERP-enabled, 24/7 and near- can now enjoy much faster turnaround times by finance products, in other instances allowing our real time communications now possible even utilising the BPO for trade settlement, and in the buyer to benefit from working capital across complex international supply chains. process, avoid additional costs such as optimisation. We complement the BPO with our Digitisation and solutions like the BPO commission and demurrage charges. own SWIFT address and an additional platform effectively speed up commercial response, Mubarak Naser Al Sayer, CEO, Al Sayer we use for our trade transactions, which is eliminates delays and removes time zone issues Group (Kuwait) partially digitised and partially requires data when dealing across markets, and needing to entry. We may be ‘kicking in an open door’ by quickly line up suppliers in response to a new stating this, but transaction lead times in trade order from a client. Banks will need to broaden are compressing, and traditional L/Cs are often and further develop their digitised offerings in no longer fit for purpose: digitisation is here, and support of trade to remain relevant; while the BPO is a natural channel for digitisation into corporate clients and SWIFT are working today the world of trade. to advance market adoption, the expectation in Michael van Steenwinkel, Global Credit future is that banks should lead and facilitate Manager Chemicals, BP (Belgium) this process. Ural Inal, Chief Financial Officer, TEMSA GLOBAL (Turkey)
[email protected] 32 Bank Testimonials
BNP Paribas was the 1st European Bank At CIMB, we view the BPO as a key UniCredit worked on BPO right from the After going live with the BPO in October to book a live BPO transaction in April differentiator in trade financing, in the beginning and was active in drafting the 2014, we are pleased that our customers 2014. This operation was awarded Deal context of increasing and irreversible uniform rules for the BPO. When we responded positively to the BPO and of the Year 2014 by Trade & Forfaiting shift towards digitisation. Market completed the first BPO in Germany and processed other BPO transactions with Review and was a starting point for more adoption of BPO will accelerate over in Italy we established our leading us. Being the leading Mittelstandsbank in recurring streams of BPO transactions. time, and the speed depends on the position in managing BPO transactions Germany, we are ambitious to expand BNP Paribas has been closely involved efforts from both banks and corporates. in Europe. Since then we have received our BPO business in Germany and in the URBPO exercise and supported More banks need to switch on to BPO many client requests from both mid-caps abroad, we see opportunities in the the initiative from the beginning. With the and focus on educating their clients. and multinationals. UniCredit is the context of supply chain finance and the BPO, BNP Paribas offers flexible risk SWIFT also has an important role to play European banking gateway to the world, market trend for digitisation of trade mitigation and financing services to all in educating banks and corporates, and and can leverage its broad flows, benefiting from our relationships corporate clients across the supply encouraging adoption. Corporates have correspondent banking network and with about 5,000 credit institutions chain. Speed and flexibility are important an even more pivotal role in motivating presence in more than 50 markets. As a worldwide. challenges for every company in every adoption by their counterparties. This consequence, we are able to offer Frank-Oliver Wolf, Head of Sales sector. The Group has invested a lot in approach requires at least one trading services that enhance operational Commerzbank Transaction Services product development and innovation for partner to be convinced of the value efficiency and mitigate payment risk for Germany at Commerzbank AG many years. BNP Paribas was also the proposition of BPO, and further requires the ever growing volume of trade 1st European Bank to implement them to have figured out the economics transactions that are managed on an SwiftNet Trade connectivity for of such a solution. Perhaps more open account basis. Corporates (MT798) in February 2010. critically given the nature of these Claudio Camozzo, Global Transaction Eric Henry, Global Head of e-Trade transactions, business partners must be Banking Co-Head at UniCredit and Sales, BNP Paribas, France willing to share the benefits of SWIFT Board Member conducting trade on a platform such as the BPO, which is particularly well suited to high-growth open account trade flows across ASEAN.
[email protected] Thomas Tan, Group Head, 33 Transaction Banking, CIMB Group, Malaysia SWIFT White Paper (2015)
[email protected] 34 Live use of ISO 20022 for BPO is accelerating
[email protected] 35 DE Recent BPO BE routes SI RO IT TR JP CN KR
KW
UAE TW OM TH HK
MY SG
AU
[email protected] 36 ISO 20022 traffic for BPO
[email protected] 37 Banks reachable on TSU to process BPO transactions
DK 1 AT 2 FI 1 CN 19 BE 3 GB 11 HK 13 BG 1 SE 2 IN 4 CH 1 JP 6 DE 6 KR 4 51 CA 1 ES 5 AE 6 LK 1 Countries reachable on TSU US 9 FR 5 JO 1 PK 2 GR 1 KW 1 TW 2 HR 1 LB 1 IT 6 OM 2 ID 5 NL 3 QA 5 MY 5 RO 1 SA 1 PH 2 TR 5 SG 18 AR 2 SI 1 194 TH 7 BR 4 GH 1 VN 3 Banks (BIC8) reachable on TSU CL 1 KE 1 PE 1 MA 1 NG 1 AU 5 ZA 3
[email protected] 38 Number Banking group Locations Banks with multiple BIC8s on TSU of BICs 4 Bank of China BR, CN, HK, US 4 CIMB Bank ID, MY, SG, TH 4 Deutsche Bank DE, GB, SG, US Number Banking group Locations 4 J.P. Morgan GB, HK, SG, US of BICs
25 Bank of Tokyo Mitsubishi AE, AR, AU, BE, BR, CL, CN(2), DE, FR, GB, HK, ID, Number Banking group Locations JP, KR, MY, PH, PK, SG, TH(2), TW, US, VN(2) of BICs 22 Standard Chartered Bank AE, CN, GB, GH, HK, ID, IN, JP, KE, LK, MY, NG, 3 Maybank CN, MY, SG OM, PH, PK, QA, SG, TH, TW, US, VN, ZA 3 Mizuho HK, JP, SG 12 HSBC AE, AU, CN, GB(2), HK(2), JP, KW, OM, QA, SG 3 Qatar National Bank GB, QA, SG 9 BNP Paribas BE, DE, FR, HK, IT, NL, QA, SG, TR 8 UniCredit AT, BG, DE, HK, HR, IT, RO, SG Number Banking group Locations 7 National Australia Bank AU, CN(2), HK, IN, JP, SG of BICs 5 ANZ AU, CN, GB, HK, SG 2 Bangkok Bank ID, TH 5 Bank of America GB, HK, SG, US(2) 2 Citi HK, US 5 Commerzbank AT, BE, DE, GB, NL 2 First Gulf Bank AE, SG 2 National Bank of Greece GR, TR 2 Rand Merchant Bank IN, ZA 2 RHB Bank MY, SG 2 SMBC JP, SG [email protected] 39 2 Westpac Banking Corporation AU, SG TSU BICs within Europe FR - France •Bank of Tokyo-Mitsubishi UFJ, Paris AT - Austria •BNP Paribas •Crédit Agricole CIB DK 1 •Commerzbank, Vienna •UniCredit Bank Austria •Crédit Mutuel CIC FI 1 DK - Denmark •Société Générale BE - Belgium GB 11 •Danske Bank GR - Greece SE 2 •Bank of Tokyo-Mitsubishi UFJ, Brussels FI - Finland •BNP Paribas Fortis •National Bank of Greece •Nordea •Commerzbank, Brussels HR – Croatia AT 2 GB - United Kingdom BG - Bulgaria •Zagrebačka banka BE 3 •ANZ, United Kingdom •UniCredit Bulbank BG 1 IT - Italy •Bank of America Merrill Lynch, London CH - Switzerland CH 1 •Bank of Tokyo-Mitsubishi UFJ, London •Banca Nazionale del Lavoro DE 6 •Barclays •UBS •Banca popolare dell'Emilia Romagna •Banca Popolare di Vicenza ES 5 •Commerzbank, London •Deutsche Bank, London DE - Germany •Banco Popolare FR 5 •HSBC Bank plc •Bank of Tokyo-Mitsubishi UFJ, Dusseldorf •Iccrea Banca GR 1 •J.P. Morgan, UK •BNP Paribas Germany •UniCredit HR 1 •Qatar National Bank, London •Commerzbank NL - The Netherlands IT 6 •Standard Chartered, UK •Deutsche Bank •LBBW •BNP Paribas, Amsterdam NL 3 SE - Sweden •UniCredit Bank (HypoVereinsbank) •Commerzbank, Amsterdam RO 1 •SEB •ING ES - Spain SI 1 •Swedbank RO - Romania •Banco Popular •Banco Santander •UniCredit Bank Romania •Bankinter SI - Slovenia •BBVA •la Caixa •NLB (Nova Ljubljanska Banka) [email protected] 40 AE - United Arab Emirates TSU BICs within Middle East and Africa •Bank of Tokyo-Mitsubishi UFJ, Dubai •Commercial Bank of Dubai •First Gulf Bank •HSBC Bank Middle East, Dubai •Standard Chartered, Dubai JO - Jordan •Bank al Etihad AE 6 GH - Ghana JO 1 •Standard Chartered, Ghana KW - Kuwait KW 1 •HSBC Bank Kuwait LB 1 KE - Kenya OM 2 •Standard Chartered, Kenya LB - Lebanon QA 5 •BLOM Bank MA - Morocco SA 1 OM - Oman TR 5 •Banque Marocaine du Commerce Exterieur (BMCE) •HSBC Bank Oman NG - Nigeria •Standard Chartered, Oman •Standard Chartered, Nigeria QA - Qatar GH 1 ZA - South Africa •BNP Paribas, Qatar KE 1 •Rand Merchant Bank •HSBC Bank Middle East, Qatar MA 1 •Standard Bank of South Africa •Qatar National Bank •Standard Chartered, Qatar NG 1 •Standard Chartered, South Africa ZA 3 SA - Saudi Arabia •Samba Financial Group TR - Turkey •Akbank •Finansbank •Türk Ekonomi Bankasi [email protected] 41 •Türkiye Is Bankasi (Isbank) •Yapi Kredi TSU BICs within Asia Pacific CN - China IN - India •Agricultural Bank of China •FirstRand India •ANZ, Shanghai •ICICI Bank •Bank of China •National Australia Bank, India •Bank of Communications •Standard Chartered, India •Bank of Tokyo-Mitsubishi UFJ, Beijing •Bank of Tokyo-Mitsubishi UFJ, Shanghai JP - Japan •China Citic Bank •Bank of Tokyo-Mitsubishi UFJ, Tokyo •China Construction Bank •HSBC Japan •China Guangfa Bank •Mizuho •China Merchants Bank •National Australia Bank, Japan •China Minsheng Banking Corp. •Standard Chartered, Japan CN 19 •HSBC Bank China •Sumitomo Mitsui Banking Corp. (SMBC) HK 13 •Hua Xia Bank IN 4 •Industrial & Commercial Bank of China KR - Korea JP 6 •Industrial Bank •Bank of Tokyo-Mitsubishi UFJ, Seoul •Maybank Shanghai KR 4 •Hana Bank •National Australia Bank •Korea Exchange Bank LK 1 •Standard Chartered, China •Woori Bank PK 2 HK - Hong Kong TW 2 LK - Sri Lanka •ANZ, Hong Kong •Standard Chartered, Sri Lanka •Bank of America Merrill Lynch, Hong Kong •Bank of China, HK PK - Pakistan •Bank of Tokyo-Mitsubishi UFJ, Hong Kong •BNP Paribas, Hong Kong •Bank of Tokyo-Mitsubishi UFJ, Karachi •Standard Chartered, Pakistan •Citi, Hong Kong •Hang Seng Bank TW - Taiwan •HSBC Hong Kong •Bank of Tokyo-Mitsubishi UFJ, Taipei •J.P. Morgan, Hong Kong •Standard Chartered, Taiwan •Mizuho, Hong Kong •National Australia Bank, Hong Kong [email protected] •Standard Chartered, Hong Kong 42 •UniCredit Bank AG Hong Kong TSU BICs within Asia Pacific SG - Singapore •ANZ, Singapore •Bank of America Merrill Lynch, Singapore •Bank of Tokyo-Mitsubishi UFJ, Singapore AU - Australia •BNP Paribas, Singapore •ANZ •CIMB Bank Singapore •Bank of Tokyo-Mitsubishi UFJ, Sydney •Deustche Bank, Singapore •HSBC Bank Australia •First Gulf Bank, Singapore •National Australia Bank •HSBC Bank Singapore AU 5 •Westpac Banking Corporation •J.P. Morgan, Singapore •Maybank Singapore •Mizuho, Singapore •National Australia Bank ID - Indonesia •Qatar National Bank, Singapore •RHB Bank, Singapore •Bangkok Bank Jakarta •Standard Chartered, Singapore •Bank Mandiri •Sumitomo Mitsui Banking Corp. (SMBC), Singapore ID 5 •Bank of Tokyo-Mitsubishi UFJ, Jakarta •UniCredit Bank AG Singapore MY 5 •CIMB Niaga •Westpac Banking Corporation, Singapore PH 2 •Standard Chartered, Indonesia SG 18 MY - Malaysia TH - Thailand TH 7 •Bank of Tokyo-Mitsubishi UFJ, Berhad •Bangkok Bank VN 3 •CIMB Bank •Bank of Ayudhya (Krungsri) •Maybank •Bank of Tokyo-Mitsubishi UFJ, Bangkok •RHB Bank •CIMB Thai Bank •Standard Chartered, Malaysia •Kasikornbank •Siam Commercial Bank PH - Philippines •Standard Chartered, Thailand •Bank of Tokyo-Mitsubishi UFJ, Manila VN - Vietnam •Standard Chartered, Philippines •Bank of Tokyo-Mitsubishi UFJ, Hanoi •Bank of Tokyo-Mitsubishi UFJ, Ho Chi Minh City [email protected] 43 •Standard Chartered, Vietnam TSU BICs within Americas
CA 1 US 9 AR - Argentina CA - Canada •Banco Galicia •Bank of Montreal •Bank of Tokyo-Mitsubishi UFJ, Buenos Aires US – United States BR - Brazil •Bank of America Merrill Lynch, US •Banco do Brasil •Bank of China, US •Bank of China, Brazil AR 2 •Bank of Tokyo-Mitsubishi UFJ, New York •Bank of Tokyo-Mitsubishi UFJ, Sao Paulo BR 4 •Citi •Bradesco •Deutsche Bank, New York CL 1 CL - Chile PE 1 •J.P. Morgan •Standard Chartered, US •Bank of Tokyo-Mitsubishi UFJ, Santiago, Chile •Wells Fargo PE - Peru •Banco de Credito del Peru
[email protected] 44 ICC publications on the BPO
Click image to ICC website Click image to ICC website Source: ICC Source: ICC
For more BPO related documents, click here and scroll down to: • BPO Accounting and Capital Treatment • BPO Frequently Asked Questions for Banks (April 2016) • BPO Frequently Asked Questions for Corporates (April 2016) • BPO Brochure • ICC Guidelines for the Creation of BPO Customer Agreements (August 2015) [email protected] 45 SWIFT Certified Applications for Corporates
Click to access website
[email protected] 46 SWIFT Certified Applications for Banks
Click to access website
[email protected] 47 SWIFT on distributed ledger technologies (April 2016)
Click on image to access online copy
[email protected] 48 www.swift.com