Market adoption of Bank Payment Obligations
by Kylene Casanova
SWIFT are working very hard to promote BPOs. In their recent (31 October 2013) they describe BPOs as “Facilitating multi-banking in supply chain finance to mitigate payment risks and enable financing opportunities.”
Overall BPO position:
Source & Copyright©2013 - SWIFT
Banks live on BPO (with live transactions and one corporate case study):
Source & Copyright©2013 - SWIFT
Banks ready for live use of BPO (but with no love BPO transactions):
- Bank al Etihad (Jordan)
- Barclays
- Byblos Bank (Lebanon)
- Commercial Bank of Dubai
- Commerzbank
- Deutsche Bank
- J.P. Morgan
- Kasikornbank (Thailand)
- RHB Bank
- Standard Bank of South Africa
- Sumitomo Mitsui Banking Corporation (SMBC)
- UniCredit.
There are 56 banking groups adopting BPO with 156 BIC8 and BIC11 in 42 countries.
Overall TSU position:
There are 83 banking groups reachable on SWIFT’s TSU (Trade Services Utility: a centralised matching and workflow engine) and those with multiple BIC8s on the TSU are:
Source & Copyright©2013 - SWIFT
For once SWIFT have downplayed the BPO progress, they describe it as ‘BPO adoption grows steadily’, it is far more than that.
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