Scotiabank was proud to sponsor and participate in the 2024 Global Annual Meeting of the BAFT (Bankers Association of Finance and Trade). Held from May 5-8 in Orlando, Florida, this event brought together over 500 global transaction banking peers and clients to explore emerging industry opportunities under the theme, “Building Bridges Amidst the Changing World Order.”
Key Discussions and Insights
Optimizing Working Capital:
Scotiabank engaged deeply with clients on optimizing working capital financing structures in the post-pandemic "new normal." With stabilized business volumes, clients are seeking efficient, one-stop cross-border solutions. Scotiabank is actively collaborating with global banks and fintechs to co-deliver these solutions, leveraging its international footprint to support sustainable supply chains.
Emerging Technologies:
The conference highlighted the transformative potential of emerging technologies in driving efficiency and revolutionizing cross-border payments. Scotiabank showcased its commitment to modernizing transaction banking platforms to meet evolving B2B payment and client experience requirements.
Regulatory Demands:
Discussions also focused on the increasing regulatory demands, particularly the implementation of Basel III. Scotiabank emphasized the importance of industry collaboration to efficiently allocate capital and navigate these regulatory challenges.
Industry Resilience:
Despite regulatory headwinds, there was consensus that the banking industry is well-positioned from a capital, investment, and innovation perspective. This resilience will drive the innovations needed to meet clients' current and future expectations.
Strategic Focus:
Scotiabank's initiatives align with its strategic focus on providing seamless client experiences through modernized platforms and efficient processes. The bank's unique international footprint, especially across North and South America, its capital strength, and leadership commitment are key differentiators in the global transaction banking landscape.
Looking Ahead:
Scotiabank continues to invest in the modernization of its transaction banking platforms, just as the role of banks within the payments ecosystem continues to change with the rapid evolution of the B2B cross-border payments requirements.
The Scotiabank team left BAFT energized by the numerous opportunities identified and the collaborative ideas generated for introducing next-generation services, technologies, and solutions.
For more information on Payments, Trade and Supply Chain Finance, and Correspondent Banking solutions offered by Scotiabank’s Global Transaction Banking team, please contact:
Ade Oni
Director, Head of Sales, FI - Banks, North America & APAC
Phone: 437-214-7175
Anupinder Singh
Director & Head Supply Chain Finance
Phone: 437-237-4134
For more highlights from the BAFT Global Annual Meeting, discover insights from Matthew Parker-Jones, SVP, Global Transaction Banking, and his panel of global peers as they discuss the next era of competition in cross-border payments.
