The recent D+H conference in London has provided a platform to corporates to share their experiences of dealing with banks, vent their frustration, highlight the improvements and discuss the latest developments and the way forward. Unsurprisingly, the main themes were standardisation, automation and the reduction of complexity. The panellists – representatives of Hilton Worldwide, Ingersoll […]
At the D+H customer event in London, Insights EMEA, there has been a lot of talk about innovation, blockchain (of course) and where corporate payments are heading. Whilst D+H and its Global Transaction Banking Solution (GTBS, formerly Fundtech) unit are, understandably, promising their clients better solutions – so we won’t dwell on that – it […]
Virtual account management (VAM) holds great promise for corporates to centralise and reduce bank accounts. Banking Technology‘s payments expert, Heather McKenzie, explains. One of the promises of the single euro payments area (SEPA) was that it would enable more efficient cash management infrastructures for the euro. In a 2014 study, Economic analysis of SEPA, PWC predicted a […]
Deutsche Bank has become the first foreign bank in China to establish host-to-host connectivity with Bank of China, as part of the project to deliver international cash management (ICM) services to corporate clients. The two banks have implemented an interbank host-to-host platform, with the first customer – Bosch China – already on-board. The project commenced […]
MKB Bank in Hungary is migrating its core banking system to Oracle Flexcube deployed on Oracle Exadata Servers.
Two online lending platforms – Spotcap and Credibly – have separately raised a total of £71.8 million in capital facilities, lending support to the sector’s prospects in the eyes of investors. Berlin-based, online lending platform Spotcap has raised €31.5 million (£23.8 million) in new funding led by international private equity firm, Finstar Financial Group, with participation from […]
Deutsche Bank has implemented an electronic enterprise resource planning (ERP) integration solution for Bosch’s foreign currency and renminbi (RMB) cross-border payments in China. Headquartered in Germany, Bosch is a global supplier of technology and services. The company’s operations are divided into four business sectors – automotive technology, industrial technology, consumer goods, as well as energy […]
Payments UK has developed a directory to offer UK institutions some of the benefits of SEPA despite the regulation not applying within the country until October. From 1 February, Eurozone banks and Payment Service Providers (PSPs) can process Single Euro Payments Area (SEPA) payments using only a customer’s IBAN (International Bank Account Number). Previously customers were […]
Britain’s payment settlement system for the pound sterling is to be redesigned and rebuilt, Minouche Shafik, deputy governor for Markets & Banking at the Bank of England (BoE) has said in a speech given at the BoE to senior figure in the UK payments business. The twenty-year old Real-Time Gross Settlement System (RTGS), which settles […]
Americana Community Bank (ACB) is working with RAI Stone Group, the provider of the RAI Stone Analytics platform to supports its small-to-medium business (SMB) teams, which focus on organisations employing between one and 100 people. “Using this service is adding significant, measurable return-on-investment (ROI) that might have happened over time, sure. But we didn’t see […]
Six out of 10 chief financial officers from mid-market and large corporate firms in the UK say they would like to see the same flexible payments technology in their business’ finances as they enjoy in their personal finances, according to a survey by HSBC.
Complying with the European Commission’s Payment Services Directive II is like climbing the massive sandstone bulk of Ayers Rock in Australia – you think you’ve reached the top, and then you realise you still have a long way to go, according to speakers at the recent European Payments Regulation conference in London.
Cashfac Technologies, a specialist market leader in bank-to-corporate cash management solutions has launched Cashfac Analytics, a real-time data analysis and reporting module that enables banks and corporates to better understand their cash movements.
From its tentative early steps to open the Swift network to corporations, Swift has been steadily building its corporate membership. Swift membership is increasingly an option for not only large multinationals, but also medium sized companies. Daily News at Sibos looks at the current status of Swift for Corporates.
The Payments Market Practice Group has endorsed the use of Swift messages for intraday liquidity reporting. The Swift message set for intraday liquidity reporting underpins a rulebook created by the Liquidity Implementation Task Force, an industry group of twenty five large clearing banks, custodian banks and global brokers, to support compliance with Basel Committee on Banking Supervision requirements.
With global investment into the fintech arena growing at an astonishing rate, it is only a matter of time before the corporate sector begins to feel its true force. Fred DiCocco, head of market management, BNY Mellon Treasury Services, discusses how banks are adapting. Fintech is triggering a monumental shift in the payments space, with […]
Saxo Payments isn’t a bank, and the chief executive isn’t a banker. So how does he think he’s that’s going to help shake up international payments?
Pascal Augé, head of global transaction and payment services, Société Générale speaks to Daily News at Sibos about the growing importance of transaction banking for corporate customers
Central banks need to play a greater role in the provision of infrastructure for low value payments and existing models revised to balance risk and rewards, according to new research published by the Swift Institute.
Digitally enabled supplier finance networks and alternative lenders now pose a significant threat to every part of the commercial lending business, with 84% of banks seeing pressure on the pricing of loan products as a challenge.
Equifax, the consumer and business information specialist, has launched a new service providing real-time, integrated data on companies and the individuals who own and run them.
Historically, the large banks have been Lords of the Manor, between them owning every scrap of land as far as the eye can see. However, times are changing: invaders offering services the banks cannot provide as competitively have begun to disrupt the peace and take small pockets of land for themselves. Likening the march of the fintech new entrants to a land-grab by an invading force, the disruptors began with a neglected allotment here and there, then moved to take a meadow and now some are on the verge of swallowing up villages and small towns …
Kuala Lumpur-based Hong Leong Bank Berhad has selected the Intellect Global Transaction Banking platform as the basis for a digital transformation of its wholesale banking services.
Thomson Reuters has added foreign exchange trading capabilities for corporate treasurers to its financial markets desktop Thomson Reuters Eikon, linking it to FXall QuickTrade, a request for stream service.
Two-thirds of top-tier financial institutions have established reconciliation centres of excellence following a recent wave of consolidation of the reconciliation function – but more than half of firms say their reconciliation technology platform was at least five years old, and a quarter of respondents use platforms more than nine years old.
A ‘Babel Fish’ for financial messaging has been launched by Volante Technologies with the intention of simplifying corporate-to-bank integration and removing obstacles to on-boarding. Like the fictional universal translator from Hitchhikers’ Guide to the Galaxy, the system translates incoming message formats into something that the receiver can understand.
The ‘digitisation’ of banking provides an opportunity for banks to improve their treasury service offerings as they face a second wave of digital expectations from key corporate customers, according to a report from analyst firm Celent.
Corporate users are increasingly adopting mobile payments, according to figures from HSBC, which expects usage of its HSBCnet Mobile corporate banking platform to double over the next 18 months, reaching $100 billion in payments.
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
The UK’s Financial Conduct Authority’s study into competition in investment and corporate banking will focus on choice, transparency, bundling and cross-subsidisation in debt and equity capital markets, mergers and acquisitions and acquisition financing. It will also consider links between competition in these primary market services and related activities such as corporate lending and broking, and ancillary services.
Whatever label you use, instant, immediate, faster or real-time payments have moved to the top of the agenda at every payments-related event so far this year and are sure to be high on the agenda when Swift’s annual Sibos event lands in Singapore in October. Nearing the halfway mark for 2015, here’s a roundup of the stories so far …
The window of opportunity to harmonise international real-time payments implementations is rapidly closing as plans for domestic systems move ahead according to panellists at the EBAday conference this week.
Regulation has the potential to accelerate the payments innovation sparked by the evolution of internet and mobile technologies. By giving customers the reassurance that payments can be made safely and efficiently, regulation allows providers to develop new and exciting ways to serve customers
Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of collating an initial variant of ISO 20022 usage guidelines for real-time payments before the summer.
ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.
Customer driven innovation is powering change in the payments industry. Real-time Payment infrastructures (RTP) – whether they are called Faster Payments, Immediate Payments or same-day clearing – are now a reality, with many countries having implemented RTP functionality, and others actively considering the imminent roll-out of RTP projects in their domestic market.
At the Recent Payments International conference in London, Patrick Griffin, EVP Business Development at RippleLabs talked to Banking Technology editor David Bannister about the technology and puts paid to some misconceptions about the Ripple protocol.
Royal Bank of Canada has made the first cross-border Renminbi payment on Canada’s new RMB Trading Hub through the hub’s designated clearing bank, Industrial & Commercial Bank of China (Canada).
The UK’s new Payment Systems Regulator looks set to shake up the way the industry is structured, with reviews of the ownership of the infrastructure and of the way that indirect access is managed through sponsoring banks.
The inaugural meeting of the Open Forum on Pan-European Instant Payments drew 77 representatives from 55 payment service providers, technology providers and other stakeholders to Frankfurt this week to kick off discussions about requirements and collaboration on infrastructure services to support instant payments at a pan- European level.
