Nordea’s Head of Transaction Banking, Erik Zingmark, has been invited to join BAFT’s Transaction Banking Global Leaders Council. Nordea is the first Nordic bank to take a seat at the world’s most important international association for transaction banking.
Established almost a century ago, The Banker’s Association for Finance and Trade (BAFT) is a global association for organisations actively engaged in transaction banking around the world. According to BAFT, the association serves as “the leading forum for bringing the financial community and its suppliers together to collaborate on shaping market practices, influencing regulation and legislation through global advocacy, developing and adapting new and existing instruments, providing education and training and contributing to the safety and soundness of the global financial system.”
BAFT’s strategic pillars include thought leadership, advocacy, education and building a global community. To place added focus on transaction banking, BAFT established the Transaction Banking Global Leaders Council (TBGL) for the twenty heads of the largest global transaction banks (by SWIFT volume). The council discusses ways of expanding the dialogue amongst transaction banking leaders around the world, drives the agenda for new solutions and increases dialogue with the global regulatory community.
Joining the conversation
New members to the TBGL are permitted at the request or approval of other existing members of the group. Erik Zingmark joins the group on the basis of Nordea’s position as the foremost transaction bank in Northern Europe and Erik’s own profile as a leading figure in the industry.
Erik says: “Being selected for this prestigious forum is a great reflection on the work we are doing in Nordea to position ourselves as the go-to transaction banking partner in the Nordics. As a regional bank, it’s an honour to be asked to join a group of global transaction banking leaders from banks like JP Morgan, Citi, Santander and HSBC, and it’s great that we have been chosen as the member to represent the Nordics. This membership will allow us to be part of the conversation amongst the top transaction banks in the world where we can share experiences and insights. We are part of a context that we have not been part of before which is exciting.”
Developing global relations
At a time when international banking is increasingly becoming about building ecosystems and collaborative networks with partner banks, access to a new global forum will allow Nordea to explore other partnership opportunities for servicing customers with overseas needs.
Erik continues: “Some of these banks are also part of the IBOS (International Banking One Solution) community and while our ambition is to learn, share and develop to become even stronger, we also want to use every opportunity to support our customers out there in the wider world. Our customers are increasingly becoming international in their outlook and forums such as BAFT give us a fantastic chance to find alternative ways to support them where they grow.”You can read more about the Banker’s Association for Finance and Trade’s Transaction Banking Global Leaders Council here: https://www.baft.org/about-baft