Resilience and innovation in banking: Key takeaways from the BAFT Forum

Taskize recently attended the BAFT Europe Bank to Bank Forum, where banking leaders gathered to discuss this year’s central theme: How resiliency today can shape banking tomorrow. 

Our team engaged with industry experts, explored today’s most pressing transaction banking challenges, and shared insights on how our platform and solutions can help.Left to right: Diederik Geeraerts (CEO), John Magennis (Account Manager), Miles Trueman (Senior Sales Executive) 

What were our top five takeaways from the event? 

1. Building resilience and adapting to change 

The forum sessions emphasised the importance of resilience in the face of geopolitical and economic challenges.  

Banks need to proactively develop strategies to ensure operational stability while navigating complex regulatory landscapes and evolving trade dynamics.  

As financial fragmentation poses a potential risk, interoperability among banks, fintechs, and regulators will be crucial in ensuring streamlined processes and a more integrated financial ecosystem. 

2. The role of technology in banking transformation 

Innovation remains at the forefront of banking’s evolution. The adoption of ISO 20022 for payment modernisation, blockchain-powered smart contracts for trade finance, and digital solutions for correspondent banking are all driving increased efficiency, security, and transparency.  

Financial institutions should embrace these technologies to reduce costs, increase speed, and maintain a competitive edge in a rapidly changing landscape. 

3. Enhancing cross-border payments and correspondent banking 

The complexity of cross-border FX transactions, particularly in emerging and lesser-traded currencies, highlights the need for greater efficiency and transparency. 

Regulatory harmonisation and interoperability between real-time and traditional payment schemes will be key to success.  

Correspondent banking remains essential but faces mounting challenges due to rising costs, compliance pressures, and geopolitical tensions. To remain viable in the long term, banks will need to enhance efficiency, minimise manual touchpoints, and embrace digital transformation. 

4. Navigating regulatory changes and compliance 

The introduction of the 2025 BAFT Master Trade Loan Agreement reflects the need for updated regulatory frameworks that align with contemporary trade finance challenges under English and New York law.  

Staying ahead of regulatory developments and ensuring compliance will be essential for risk management and operational resilience. 

5. Investing in future talent and leadership 

BAFT’s Future Leaders Program Class of 2025 recognised 40 emerging leaders from 17 countries who are set to drive innovation and transformation in transaction banking. 

Developing the next generation of banking professionals will be critical to ensuring continued adaptability and progress within the industry.