BAFT Helps Banks Comply With Basel III

Tod Burwell, president & CEO at Bankers’ Association for Finance and Trade (BAFT), says the global body is engaged in training bankers across the world for projects on de-risking, client onboarding, fintech and transaction banking:

BAFT is an international transaction banking association, providing advocacy, thought leadership, education and training, and a global forum for its members to discuss on trade finance, payments, compliance and regulations. BAFT, in its erstwhile format, came into existence in June 1921 when a group of 10 bankers from Buffalo, Cleveland and Detroit got together and adopted articles of association. The current BAFT was formed after the merger of the International Financial Services Association (IFSA) with it. BAFT’s conferences have allowed bankers from around the world to network and to debate, discuss, and share issues of common interest and concern. It organized the India Executive Roundtable in March 2017 in Mumbai.

Mehul Dani: What are the major issues of transaction banking on BAFT’s global agenda at present?

Tod Burwell: The primary policy issues we are engaged in for 2017 include the final framework for Basel III, Bank Recovery and Resolution Directive (Article 55), Financial Crime Compliance – including de-risking, AML, KYC, tradebased money laundering, sanctions and related issues. We provide input to the development of US trade policy and are actively advocating for the full appointment of directors to allow the functioning of the US Export-Import Bank. Lastly, we are engaged with the industry and regulators to track the development of innovative financial technology in the transaction banking business and ensuring a balanced and cohesive framework that supports innovation while also ensuring the integrity of the financial system.

How many conferences, webinars, workshops and networking meetings are held on an average in a month?