Tag: anand pande

The UK lender has hired Martin Knott from Bank of America Merrill Lynch for the position, replacing Anand Pande who has left the bank.

Major regional banks, such as ANZ and Maybank, as well as globals, have told CT that bank payment obligation (BPO) deals are set to go public in 2014.

Existing benchmarks for the trade finance industry contain data holes, banks and Swift should make broad transaction flows public.

The first-ever factoring BPO is evidence against the argument BPOs are a tool developed by bankers, for banker’s interests only.

Banks running Bank Payment Obligations, a new Swift-enabled trade finance process, are now all inter-bank capable and automated, while BTMU has leapt ahead with BPO-enabled factoring that led mining giant Vale to substantially reduce days sales outstanding.

UR BPO rules have been unanimously approved by the ICC clearing the way for the first multi-bank, automated deal to occur.

New rules outlining the practice for bank payment obligation (BPO) have been written and will be enforceable in July. Although a handful of BPOs have already been transacted, lack of guidelines prevented many bankers from using the supply chain tool.