BIAN adds business scenarios to banking IT standards framework
Standards consortium BIAN has released a new version of its industry standard framework containing more than 180 business scenarios including back-office, trade finance and sales.
BankingTech
Bitcoin: the indestructible currency?
Despite the high profile media scandals surrounding the demise of the Mt Gox exchange and the Silk Road trading website, Bitcoin is evolving rapidly and will soon present a better, more stable and accountable alternative to the fiat currencies most of us trust and use every day, according to Mark Lamb, chief executive of London-based Bitcoin exchange Coinfloor.
EU financial markets – from fragmentation to harmony?
Consolidation of market infrastructure in Europe will continue, as firms choose post-trade service providers that meet their needs in terms of cost-effectiveness or value-added services. However, some of the real cost issues in Europe are still to be addressed.
Equity markets “not broken” say TradeTech speakers
Despite the deep controversy created by Michael Lewis’ expose of HFT Flash Boys, global equity markets are not broken, according to a senior capital markets panel at Trade Tech Paris 2014.
RBS offers corporate multi-bank platform across China
The Royal Bank of Scotland has launched a new service that lets corporates manage up to 18 local Chinese bank accounts through a single global electronic banking platform.
New solutions for optimising cash in the retail industry
Managing cash in stores remains a major challenge for retailers – trapped cash hinders working capital management and is unavailable for investment, debt repayment or business expansion. But new ways are being developed to manage store cash …
Integrating the digital future
Balázs Vinnai, now with Misys, talks about changing banking and payments technology needs.
Real-time payments: coming to America?
When the US Federal Reserve Banks asked for comments on improving the US payments system, the tech industry and merchants said “let’s go” while the incumbents said “whoa, not so fast” …
April 2014 Intra-day liquidity – a blessing in disguise
Intraday liquidity reporting becomes mandatory next January. It might just provide an opportunity to reassess the way banks approach risk.
Redesigning the retail bank, the Fidor way
Banks must take note of the way that technology is changing how customers interact with the world around them and develop products and services that address their needs rather than the banks’.
You think SEPA is over? Think again
Banks should be wary of jumping the gun and assuming that SEPA implementation is a done deal. Far from being over, the task of learning to live with SEPA is just beginning.
Special Report: Payments modernisation – the future is happening now
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.
Stop selling and start listening, say corporates
Banks don’t really understand the needs of corporates and are often so busy focusing on selling that they forget basic customer requirements, according to speakers at the IPS conference in London this week
Banks – “Don’t Panic”, says Wells Fargo’s Ellis
The banking industry is complex by its nature but banks and bankers should look up from their budgets, listen to their customers, stop whining about regulations and collaborate on industry issues.
EBS rolls out mobile FX app
FX trading service EBS has launched Watch EBS, a new mobile app that is designed to show users the global spot FX market in as close to real time as possible.
What’s giving high-frequency traders the jitters?
What is the latest technological snag affecting high-speed trading performance? In a word, jitter – a major risk, particularly when carrying out arbitrage.
Transparency: the new wonder drug?
While transparency may be seen as a new wonder drug that will cure all the industry’s ills, it does not come without side effects, so it was refreshing to see ESMA promoting a collaborative approach with the industry in defining the details of how MiFID II and MiFIR are implemented.
UK mobile banking doubles in a year
UK consumers have doubled the amount of transactions they make on their mobile phones over the last year, according to new figures released by the BBA.
Global move towards real-time payment systems
In this supplement we share our experiences of implementing real-time payments systems and take an in-depth look at the success of Faster Payments in the UK. We also examine the challenges and benefits that real-time payments can deliver to banks and consumers as well as the advantages real-time technology can bring to government and businesses to support the wider economy and society as a whole.
International Bank of Qatar clamps down on money laundering
The International Bank of Qatar has installed a financial crime risk management platform from tech vendor Fiserv, which it says will help it to better manage its money laundering and fraud prevention strategy.
Why banks need to branch out into the cloud
Despite the well-known benefits of cloud computing, 75% of banks in Europe are using outdated core banking systems. Why are some banking institutions slower to adopt cloud than others?
SIA and Orange champion mobile POS in Europe
Orange Business Services and technology infrastructure provider SIA have done a deal aimed at encouraging European banks and merchants to manage more payments via mobile point of sale terminals.
US risk spend hits new peak reports DTCC
US financial institutions are spending more on risk mitigation than ever before, according to a new study by post-trade services utility the DTCC.
CFTC calls for international swaps data sharing deal
Global standards and approaches to regulation need to focus more on removing risk from the financial system rather than on compliance – but to do so international regulators will need to harmonise their efforts and embrace technology to a much greater degree.
If you’re not ready, the regulators will get you
The complexity of regulatory reforms in Europe and the US are placing pressure on the industry and may catch some participants unawares.
Banking in the Digital World
While established banks struggle with their legacy systems, smaller players and new entrants are quickly adopting new technologies – but there are some trends in digital banking that are being slowly adopted by the banking industry as a whole.
Perseus Telecom launches ‘trans-Atlantic’ microwave service
Perseus Telecom has launched what it claims is the first ‘trans-Atlantic’ microwave route between New York and Frankfurt, for use by banks, market makers, proprietary trading firms and other market participants.
EBA Clearing reports uptick in SEPA payments
EBA Clearing has reported that market participants are gradually adapting to SEPA, with peak day volumes on its Step2 clearing platform above 100 million SEPA credit transfers and SEPA direct debits.
ESMA looks for guidance on CSD technical standards
European securities regulator ESMA has published a discussion paper asking for public feedback on the technical standards that should be used for CSDs, including registration, settlement discipline, confirmation rules, acceptance or rejection of terms, as well as access to CSDs by other CSDs and market participants.
Extraterritoriality and volumes make future uncertain for CCPs
The number of central clearing counterparties is likely to rise in the near future as new entrants put Latin America, Africa and Australia on the map for OTC derivatives clearing, but with more regulatory intervention expected and unpredictable customer flows, the new venues face an uncertain future
Why banks need a chief mobility officer
Mobility has risen to such a level of importance that many people believe it deserves its own C-level position to advance and align mobility strategy throughout the enterprise. In no other industry is this more pressing than in banking where financial institutions are increasingly using mobile apps to set themselves apart from their rivals.
Outfoxing the fixed income fracas
Fixed income is a bit like the tortoise of Aesop’s fables, while equities is unquestionably the rambunctious hare. While equities finished the race towards an agency trading model many years ago, fixed income is just plodding onto the starting lines now. But a little outsourcing may provide the rocket boost the industry needs to push ahead, according to Carl James, managing director of dealing services UK at BNP Paribas.
Global financial IT spend to reach $100 billion by 2018 says Ovum
IT spending in financial markets is on the rise and is set to reach $100 billion in capital markets, corporate banking and asset management by 2018, according to new research by analyst firm Ovum.
Accenture launches Indonesian innovation centre in Jakarta
A new financial services innovation centre in Indonesia is aiming to capitalise on rising levels of mobile penetration and interest from banks and other financial services providers in new technologies and business opportunities in the country.
Lombard Risk in global collateral management deal with Broadridge
Broadridge Financial Solutions has formed an alliance with UK software developer Lombard Risk Management under which Lombard’s collateral management system will be integrated into Broadridge’s applications and infrastructure services.
Custodian bank trio cut T2S asset servicing deal with Clearstream
Post-trade services institutions Clearstream, BNP Paribas Securities Services, Intesa Sanpaolo and BBVA have formed a tie-up in Europe, which they say is aimed at better asset servicing n Belgium, France, the Netherlands, Italy and Spain under the ECB’s forthcoming T2S project.
Manual processes and bottlenecks threaten to throttle OTC derivatives reform
Regulatory change in the OTC derivatives market has produced serious problems that indicate a clear need for more automation of cleared derivatives post-trade processing, according to a new report published by research house Greenwich Associates.
Bank of England live on Swift’s MIRS contingency platform
The Bank of England has become the first central bank to go live with an implementation of the Market Infrastructure Resiliency Service contingency system it has been piloting with Swift over the past few years.
The name’s Paym – UK Payments Council names mobile service
The mobile payments system planned by the UK Payments Council will be branded Paym. The Council says that it will announce the go-live date next month and final testing is on track.
BNY Mellon sets out global ambitions with new payments architecture
BNY Mellon says a global overhaul of its payments infrastructure will position it for “a new era” in payments and fundamentally change its relationship with customers and other financial institutions internationally.
