Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
Bank of America Merrill Lynch (BAML) has completed consolidation of client transaction banking data from multiple systems into a single centralised data repository. The service will provide corporate clients with up to 14 months of data online or in file format.
Transaction banking specialist vendor Fundtech has released a new financial messaging platform called Global Messaging Plus, which it said would make service bureau offerings such as software as a service more attractive to tier one and two banks.
Daily News at Sibos Day 2 2013
Bitcoin has had a bizarre beginning, full of whats, ifs and maybes. In what seems to be a case of virtual reality came virtual cash, with software written by an anonymous donor and a principle that could play a leading role in the future of online transactions.
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Swift’s “True North” is the fact that it is a cooperative, and it will focus on this as it moves towards developing collaborative industry utilities to address complicated issues in areas such as KYC.
Clever use of data about customers can be the key to success as customers move from cash to cards, according to Oliver Huwes, chief executive at Russian bank Tinkoff Credit Systems.
The UK’s second largest building society is being moved to a modern delivery platform managed by HP, with the establishment of a Shared Services Alliance with HP Enterprise Services UK to offer the platform to a wider range of UK financial services institutions.
Cover story: It’s not just the criminals who are trying to get into your systems – banks need to look at the bigger picture to create an effective cyber defence Also in this issue: Where worlds collide: In Turkey’s dynamic financial services markets minarets mix with mobile masts and ATMs with ancient monuments . Swift […]
Experts are saying millions of people will abandon their old banks and switch to a new provider, following the introduction of new rules on 16 September designed to make it easier to change banks. But estimates vary widely, from single digits to tens of millions.
Standardised data architecture at financial institutions is no longer a ‘nice to have’. Regulatory pressures and headline grabbing fines have rocketed enterprise data management to the top of the boardroom agenda.
International financial centres can play an important role in easing companies’ participation in new markets. Heather McKenzie looks at the elements needed to build a successful financial centre
Global non-cash payments volumes continue to rise unabated, according to World Payments Report 2013 (WPR 2013), which was launched today. Non-cash transactions grew by 8.8 per cent during 2011 (the latest year for which full data is available) and are predicted to top 333 billion for 2012.
Five years on from the financial crisis and banks still face a rising tide of regulatory initiatives. Daily News at Sibos asked several industry executives whether the price of regulation is becoming too high
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today: James Wills, senior business manager, banking initiatives/standards
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today, Beth Smits, head of corporate affairs, Asia Pacific
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today, Alain Raes, chief executive EMEA and Asia Pacific.
Mobile payments specialist Zapp is expecting to sign up five of the six major UK banks within the next few weeks, following a deal with acquirer WorldPay, announced this week. However, the platform still has a long way to go to catch-up with rival Barclay’s Pingit, which has a significant head-start, having launched in February 2012.
Rapidly becoming an international transport hub, Dubai is a thriving multicultural city. David Bannister, editor of Banking Technology, samples some of the city’s culinary and cultural delights.
The challenging ongoing economic climate and the resulting shrinking markets have created an environment of greatly increased competition. In order to deal with the pressures of recession, retail banks are increasingly being forced into a strategic transformation of business structure, culture and practice. How they interact with customers is a prime focus during these transformations, writes Mike Davies, Regional Vice President Sales EMEA North at GMC Software Technology.
The Singapore Exchange and Luxembourg-based Clearstream are planning to launch a collateral management service that should help customers use assets as collateral at SGX’s securities depository CDP.
US banks Clare Bank and Farmers Exchange Bank have chosen to install cloud-hosted core banking services from vendor Temenos, in a deal that the banks say will help them reduce costs and roll out products to customers more easily.
Russian broker BCS Prime Brokerage plans to install a new pre-trade risk system called TripleCheck, which it says will help it to meet tough new regulations on algorithmic and proprietary trading.
Retail banking competition is likely to heat up over the next decade, with millions more people switching accounts every year, according to new research published by the Centre for Economics and Business Research. But current levels are still far behind those found in other industries such as electricity and gas utilities, the study found.
Western Union has launched a new mobile money transfer service in Nepal, which aims to capitalise on the country’s massive inflow of cross-border remittance payments.
With only one in five UK consumers using their mobile to make payments, new research suggests that the technology is being held back by consumer fears over security, lengthy sign-up processes and problems making payments outside of individual schemes.
The payment industry has never seen so much change or opportunity. It continues to be reshaped by shifts in the economic landscape, new technologies and customer needs and this is set to continue.
Italian banking group Instituto Centrale Banche Popolare Italiane has introduced a new trading and recording system across its Milan operations, which it says will help it to better keep up with changing regulation and offer a better service for its traders.
Created in April 2013, Turkey’s new Borsa Istanbul exchange is at the heart of an ambitious project to turn Istanbul into a major global trading centre. With the country’s economy ascendant, Turkey has a lot to offer, according to Ali Çöplü, chief information officer of Borsa İstanbul.
Swedish payment company iZettle and Spain’s Banco Santander have launched a new ‘social payments’ system in Brazil, which is designed to help small businesses take card payments with Apple and Android smartphones and tablets.
A three-hour trading crash at Nasdaq OMX caused by a connectivity issue has once again put the spotlight on trading technology and the resilience of financial markets, which have been sorely tested in recent months and years.
Financial industry analysts have warned that investors should be careful about how they approach automated trading, following news that a trading error at Goldman Sachs lost the firm $100 million on Tuesday.
A fragmented data architecture can threaten a financial institution’s ability to keep track of its assets. All too often, front office systems are separated into individual asset classes and lines of business, making the integration of the transaction flows from these systems very difficult.
A new mobile payments network called YellowPepper has launched in Colombia, marking the beginning of a massive project to bank the unbanked and sweep away the dominance of cash across the Spanish-speaking Americas.
The way we pay is evolving, with changing consumer attitudes and new technologies combining to usher in a new era of payments and banking.
One common thread unites developed and emerging economies across the globe – the ubiquity of mobile devices are changing the way people interact with businesses and each other. In many countries, the number of mobile phones in use surpasses the number of consumer bank accounts. This shift in consumer behaviour is changing the face of payments as we know it.
Payments made via mobile devices are fast becoming de rigueur as tablet sales are expected to overtake personal computers by 2017. Shane Fitzpatrick addresses five common myths about m-commerce and how to capture online revenues. Smartphones are already more popular globally than desktop PCs and of the 1.875 billion phones to be sold in 2013, […]