BAFT announces FinTech initiative that aims to drive bitcoin awareness

BAFT has launched an initiative to drive awareness of innovations in financial technology that are transforming transaction banking services such as cross-border payments and trade finance.

The initiative is an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance.

Tod Burwell, BAFT president and CEO, said, “Emerging technologies such as blockchain technology, distributed ledgers and virtual currencies are redefining how supply chains operate and payments are executed. Our members understand the critical impact this will have on our industry and have made it a top priority.”

BAFT also said it will create a FinTech and Innovation Council to guide its efforts around emerging technology and payments and drive execution. The council will be tasked with developing educational member resources on the technological applicability to transaction banking, building on its seven-part webinar series on Blockchain technology launched Sept. 15.

BAFT is an international financial services association that deals with a wide range of topics affecting transaction banking.