SWIFT and the International Chamber of Commerce keep promoting the BPO vigorously. The latest publication from SWIFT on the ‘Market Adoption of BPO’ reveals that BPO adoption grows steadily, and current situation is:

Source & Copyright©2014 - SWIFT 

For corporates interested in implementing the BPO in their financial supply chain, the report lists the Banks adopting BPO, the banks reachable on TSU, banks with multiple BIC8s on TSU and the BPO certified trade platforms.

The report concludes that the BPO is modernising trade and trade financial services in four different ways:

• leading trade banks are partnering with the ICC and SWIFT to bring a modern trade instrument to the market: the BPO
• the BPO can be used on any channel (Internet, SWIFT) and with any software solution; the SWIFT Certified Application ensures inter-operability between competitive vendor solutions
• the BPO is based on proven best practices: technology neutral industry standards (ISO 20022)
• all leading trade vendors and trade banks in the world are adopting the BPO which confirms the growing acceptance and immediate relevance of the BPO to the trade finance market.

---

CTMfile take: BPO is making steady progress, but, how far the BPO has to go to become a major part of the supply chain trade finance is shown by how each BPO implementation is reported individually. BPO is a ‘great idea’; it will just take many years to be adopted generally.