BP Petrochemicals transacted the first automated multi-bank bank payment obligation (BPO) over the last week of April for a Europe-centred transaction.
Swift has recently published research providing up-to-date details on those running bank payment obligations. At present, 25 corporates are involved in live transactions.
ExxonMobil with BAML and China CITIC has driven the use of electronic bill of lading (eBL) in Asia with its shipment from Singapore to China via the essDOCS online platform.
RBS and Bank of China announced their first commodity transaction using the Bolero electronic trade finance platform, following deals executed by Japan’s Mizuho Bank in March and China CITIC Bank last November.