As open account trade continues to rise in most markets, there is increasing interest in the new Business Payment Obligation (BPO) instrument to achieve better standardisation and reduce risk. At the same time, more than half of banks are demanding simpler ways to manage regular updates to existing standards. Both of these results are good news for SWIFT, given its current involvement with the International Chamber of Commerce (ICC) to develop the BPO, and its work with member banks and corporates on the MyStandards platform.
A copy of the full report on the results of The Global Transaction Banking Survey 2012 can be found here.
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