Pressing the reset button
Whether or not the coalition government succeeds in implementing all of its proposals remain to be seen but undoubtedly the transformation of the banking sector – across all levels – is most certainly underway …
Whether or not the coalition government succeeds in implementing all of its proposals remain to be seen but undoubtedly the transformation of the banking sector – across all levels – is most certainly underway …
Predicting the future is never easy, but trying to anticipate likely developments in a particular area is essential in order to take timely action. With that caveat, Stephen Lindsay, head of standards at SWIFT, sets a boundary on a discussion on the Future of Standards: “What we are trying to do is extrapolate a little bit from where we are now to where we might be in a few years’ time,” he says.
ISO 20022 has been hailed as the lingua franca in payments and securities for some years now. It offers great potential for re-engineering the payments industry, and for process improvement, but for a standard that promises so much it is still relatively unknown.
It’s not proving easy, but progress is being made on the road to the development of a global Legal Entity Identifier that works and makes business sense.
As delegates gather for the third Business Forum organised by Swift in London this week, issues on the global impact of regulation and the banking industry’s response to it are more pressing than ever Perhaps equally pertinent to the conference – the largest event Swift organises aside from the annual Sibos conference and exhibition, with […]
Swift and the Banking Commission of the International Chamber of Commerce have introduced new legal and technology standards for the new Bank Payment Obligation payment instrument. The BPO allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and […]
Enterprise data management vendor GoldenSource has added support for the ISO 17442 Legal Entity Identifier standard to its systems
The Royal Bank of Scotland has announced a new product intended to help clients migrate to mandatory SEPA standards. Called the RBS SEPA Accelerator, the product has a feature that allows a corporate implementing the SEPA XML file format to independently initiate, monitor and amend file testing, validation and end-to-end simulation. This ensures that a corporate can self-test its SEPA readiness.
While changes to the OTC derivatives world grab the headlines, trading is moving to a cross asset world, largely driven by regulation and standardisation – and after a few years of pain, firms may find that they are better off as a result.
The International Standards Organisation has finalised details of a new ISO standard that guarantee the long-term authenticity of electronic signatures.
US post-trade services utility the DTCC has begun client testing ISO 20022 messages for corporate actions covering distribution events.
High frequency trading specialist Rapid Addition has partnered with IBM to provide an ultra-low latency service for financial firms that are very sensitive to speed.
As the global method of identifying entities and their ownership structures, the Legal Entity Identifier forms a central part of the G20’s crisis-prevention toolbox. After a few chaotic years of LEI debate and design, regulators are finally nearing the long anticipated starting line for use of the world’s first singular identifier.
Regulatory data collection tools have been refined, standardised identifiers nearly constructed and more frequent and granular reporting rolled into regulation. Now that regulators have this mass of data, what is the next step in linking it and putting it to use?
The Enterprise Data Management Council has appointed Dennis Wisnosky to lead the implementation process for its Financial Industry Business Ontology – FIBO – suite of standards. Wisnosky is a veteran of the data management world, having previously acted as the chief technology officer and chief architect in the US Department of Defense Business Mission Area, […]
UK retail banks could be forced to share branch premises with rivals under plans to increase competition in the market, according to the chief executive of the UK’s Office of Fair Trading, Clive Maxwell.