SmartStream Technologies, the financial transaction lifecycle management (TLM) solutions provider, has revealed that its original agreement with Credit Suisse was recently expanded to include the processing of listed derivatives brokerage fees which began in February of this year.
South Africa’s financial services group FirstRand is in takeover talks with Aldermore, a UK-based challenger bank focused on SMEs.
Meezan Bank, the largest Islamic Bank in Pakistan, has upgraded its core banking system, Temenos’ T24, to release 16.
Financial authorities globally are promoting open banking. While it represents a shift in the mindset of traditional banks, Heather McKenzie, editor of Daily News at Sibos, finds they may be up to the challenge.
Top pics and captions from Swift’s Sibos 2017 conference in Toronto!
Swift has launched Correspondent Banking Suite, a solution targeting small to medium sized correspondent banks that are seeking cost-effective access to the Swift network.
Read our third Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Ensuring security on Swift’s network doesn’t have to be rocket science. Getting the basics right will help individual institutions and Swift’s community.
Having gone through an unprecedented number of exceptional nominations for our Leadership Awards, we are pleased to announce the shortlisted candidates for Tech Leaders, IT Team of the Year and Woman in Technology.
With new banking reform on the horizon, Amit Dua, president of Suntec Business Solutions, assesses why customers will improve their financial and life circumstances if heritage banks and young fintech firms find a way to combine their strengths.
Deutsche Bank has launched the “first” paperless import payment solution in India with its TradePay system. TradePay uses the Reserve Bank of India’s (RBI) Import Data Processing and Monitoring System (IDPMS) to verify import payments by checking them against details made available by the client on the system, “eliminating the need for clients to share […]
This time it’s personal. Standard Chartered has launched a digital wealth management tool that can customise investment ideas in a lively and rapid manner. Called Personalised Investment Ideas (PII), the idea is to help “priority banking” clients respond faster to market opportunities with automated investment ideas based on considerations such as their risk profile and […]
As the financial services industry and fintechs work ever closer, where does that leave bigtech?
In today’s (17 October) session at Sibos, API in financial services: the key to the future?, the discussion panel participants were in agreement on the following: if your want your API strategy to work, you’ve got to have a holistic approach to it across the organisation.
HSBC has introduced a matched electronic purchase order (Me-PO) financing solution to improve its release of working capital.
Broadridge Financial Solutions, Natixis and Société Générale say they have “successfully completed” a pilot project that leverages blockchain technology for bilateral repurchase, or repo, agreements.
As financial authorities express concern about de-risking in correspondent banking, a similar phenomenon is emerging in trade finance, driven by the high costs of KYC compliance.
Canada’s ATB Financial has gone live with a new treasury and capital markets (TCM) solution, MX.3, supplied by Murex. The solution is delivered on a Software-as-a-Service (SaaS) basis.
BNP Paribas ALM Treasury and EY have completed a pilot demonstrating the use of blockchain to improve global internal treasury operations for the bank. The ALM Treasury department, which manages the bank’s internal ops, at the service of all three operating divisions of the group, carried out the pilot, tested internally this summer. According to […]
Bahrain-based BMB Investment Bank has opted to modernise its treasury operations with the TCS Bancs system from TCS Financial Solutions.
The derivatives execution and clearing (DEC) business of BNP Paribas has implemented SmartStream Technologies transaction lifecycle management (TLM) Fees and Expense Management (FEMS) solution.
The Banking Industry Architecture Network (BIAN), a not-for-profit fintech industry body, has launched its latest release of its service landscape. Termed SL 6.0, the framework is designed to provide a “globally standardised and simplified” banking architecture structure, using a service-based architecture.
Swift is aligning its KYC Registry with the new Wolfsberg Due Diligence Questionnaire (DDQ) for correspondent banks. First issued in 2004, the DDQ was updated in response to regulatory pressure.
The question of whether – and in what form – banks will survive in the future depends largely on how the forces of changing customer behaviour, technology and regulation will play out on different types of banks.
The distributed ledger technology (DLT) firm Ripple has attracted attention on the opening day of this year’s Sibos with its cars outside the Metro Toronto Convention Centre (MTCC) ferrying people back and forth to its own rival Swell event downtown.
The European Central Bank’s (ECB’s) governing council will decide by the end of this year whether to greenlight a new real-time gross settlement (RTGS) system to replace the decade-old Target2 platform.
Top pics and captions from Swift’s Sibos 2017 conference in Toronto.
Read our second Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data?
With myriad domestic instant and real-time payments systems being deployed internationally, is the next logical step cross-border, real-time payments? We asked some Sibos delegates what they think.
We live in impatient times – everyone wants to be able to pay who they want when they want, instantly and regardless of location. The UK has had instant payments since 2008; Faster Payments volumes have exceeded all predictions and now exceed 135 million per month.
The disruptive threats that banks face today are well documented: fintechs, decentralised cryptocurrencies, distributed ledger technology and now the tech giants like Amazon, Facebook and Apple, to name a few. These players are all now placing themselves between retail banks and their customers, meaning that banks are not just competing with other banks anymore.
FIS and Citi Treasury and Trade Solutions are working together to enable real-time payments and cash management for their corporate treasury customers. Using the CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payments factory to the suite of Citi Treasury and Trade Solutions – enabling integration with Citi’s core treasury management functionality, […]
Welcome to Sibos 2017 in Toronto – bringing together 8,000+ delegates from 150 countries. And this year we have a new (or the vintage new?) theme: data. Not the “big data” though (that everyone was talking about a few Sibos conferences ago), but just data.
Oracle has unveiled its array of open banking solutions as it targets banks and pushing APIs into the mainstream.
SmartStream Technologies, the financial transaction lifecycle management (TLM) solutions provider, has unveiled its latest reconciliations solution.
UK-based Lloyds Banking Group is modernising its payments technology for corporate and institutional clients with SAP. The bank has signed for SAP’s cash management and payments platform, powered by SAP HANA.
As part of its global payments innovation initiative, Swift and a group of banks have been trialling distributed ledger technology (DLT) in the reconciliation of nostro databases in real-time.
Many financial services industry firms are examining the potential of distributed ledger and artificial intelligence (AI) technologies. Is it too early for any meaningful deployment?
Banks are not responding quickly enough to the rapidly changing requirements of corporate treasurers, according to new research from Ovum. Corporate requirements are expected to change further as real-time payment infrastructures are further rolled out in the main economies in Europe and the US.
