BAFT Publishes White Paper on Trade Digitization After COVID-19

BAFT, the American Bankers Association subsidiary association for international transaction banking, today published a white paper highlighting progress on trade digitization in 2021. The paper—which was created in collaboration with the International Chamber of Commerce and the International Trade and Forfaiting Association, analyzes the state of trade digitization at the end of 2020, highlights progress made during the COVID-19 pandemic and proposes additional changes to ensure digitization’s continued and sustainable advancement. It also discusses the need for cross-industry, cross-technology platform-based standards to improve the effectiveness and efficiency of digital trade.