De-risking in trade finance: time to act
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.
BankingTech
ATB Financial live on Murex treasury and capital markets tech
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 and EY explore private blockchain for treasury operations
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 […]
BNP Paribas selects SmartStream’s fees and expense management solution
The derivatives execution and clearing (DEC) business of BNP Paribas has implemented SmartStream Technologies transaction lifecycle management (TLM) Fees and Expense Management (FEMS) solution.
BIAN unveils API-ready release to boost cloud banking ambitions
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.
KYC Registry aligns with Wolfsberg DDQ
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.
Sibos 2017: collaboration vital to avoid dinosaur status
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.
Securities markets: standing at the crossroads
Financial technology has the potential to radically transform the securities industry. The fast pace of change could lead to disintermediation, according to an Iosco study.
Sibos 2017: Swift’s Sibos vs Ripple’s Swell
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.
Daily News at Sibos 2017 top photos and captions – Day 2
Top pics and captions from Swift’s Sibos 2017 conference in Toronto.
Daily News at Sibos 2017 – Day 2
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!
Regtech to the rescue
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?
Talking heads: real-time payments – instant gratification
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.
Innovation hubs – where do you begin?
Discussing the strategies banks can adopt to choose the right innovation partners.
EastNets unveils real-time fraud detection solution
EastNets has launched its en.SafeWatch PaymentGuard (en.SWPG) at Sibos, a real-time fraud detection solution for Swift payments. The company says en.SWPG is a new artificial intelligence (AI)-powered solution, that can sort out “genuine transactions from suspicious ones and reduces the number of false positives”. Hazem Mulhim, CEO, EastNets, says it “recognises the mounting salience of […]
Real-time payments: forging path to the “new normal”
Escalating customer expectations, regulatory requirements and technological developments are fuelling the need for instant payments. Market providers agree that real-time payments will be the “new normal” and, it’s not a matter of if, it’s a matter of when.
Sibos 2017: social media – identity capitalism
“Our social and business communications are edited by tech,” Vladan Joler, director of Share Foundation, stated at the Sibos Innotribe panel, How does Facebook know you better than you know yourself?.
FIS and Citi team up for real-time payments for corporate treasury
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, […]
Sibos 2017 opening plenary: data is the new battleground
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 unleashes open API banking solution set
Oracle has unveiled its array of open banking solutions as it targets banks and pushing APIs into the mainstream.
SmartStream launches latest version of TLM reconciliations solution
SmartStream Technologies, the financial transaction lifecycle management (TLM) solutions provider, has unveiled its latest reconciliations solution.
IBM teams with Dream for payments on the cloud
IBM has teamed with Toronto-based firm Dream Payments – bringing its cloud and security capabilities to help the firm offer mobile point of sale solutions and business-to-business (B2B) payments.
Liquidity management: real-time nostro time?
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.
Artificial intelligence: the shape of things to come
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?
Ovum survey reveals bank shortcomings
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.
Interview: Robert Barnes, TradeIX – the IX in Trade
In an exclusive interview with trade finance specialist TradeIX, co-founder and CEO Robert Barnes explains how banks’ senior management is focusing on one goal and why product silos simply do not work.
Daily News at Sibos 2017 – Day 1
Read our first 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!
Cybersecurity: into the data breach
Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.
IBM, KlickEx Group and Stellar unveil cross-border payments solution
IBM, KlickEx Group, a regional financial services company, and Stellar, a non-profit organisation that supports an open source blockchain network, have unveiled a new regional cross-border payments solution using IBM’s blockchain technology to provide clearing and settlement of trades on a single network in real time.
Wave brings business services to RBC’s online banking platform
Wave – a business financial management (BFM) solutions provider from Toronto – has signed a deal that will integrate its invoicing, accounting, and business financial insights technology into Royal Bank of Canada’s online banking platform.
Ripple entices banks with new accelerator programme
One of the first rules of basic economics is that incentives matter. Blockchain solutions company Ripple must be privy to this rule as it has unveiled a new accelerator programme and marketing incentives to promote bank interest.
Infographic: Common Reporting Standard (CRS) – a year on
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA related global tax transparency regulations.
Top fintech stories this week – 13 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Blockchain and Bitcoin round-up: 12 October 2017
Whether it’s prepaid card time or financial crime, the world of blockchain and Bitcoin is a lively one. This latest round-up features BitFlyer, Visa, Accuity, R3 and SIA. Tokyo-based Bitcoin exchange BitFlyer has unveiled a Visa prepaid card that can be charged with Bitcoin in yen and used throughout Japan. It can be charged via […]
Finastra partners with Vasco to offer customers eSignLive capability
It turns out, banks can gain a lot from business tools. That’s probably why business solutions company Vasco and financial services software company Finastra teamed up.
The modern trade landscape: banks and digitalisation
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
Corporate client self-onboarding
Know this feeling when you are asked by a check-in clerk where you’d like to sit on a plane? A torrent of thoughts rushes through your head: being able to see the actual seat map with available options would make your choice much easier. Otherwise it’s kind of like a child describing his/her favourite movie.
Around Fintech in 8 Hours – new online course launched by CFTE
Centre for Finance, Technology and Entrepreneurship (CFTE) has launched a fintech foundation course – Around Fintech in 8 Hours – “designed to give professionals working in the finance industry a solid understanding of how technology is redefining the provision of financial services”.
Payments: I spy gpi
Much of the focus for correspondent bankers at this year’s Sibos will again be Swift’s global payments innovation (gpi) initiative. More than 110 transactions banks from Europe, Asia Pacific, Africa and the Americas have signed up to the initiative, which opened for live payments in January 2017.
I know what I am doing!
Recent business surveys together with published industry trends suggest that ATMs aren’t going to disappear from the landscape quite yet even as the rate of bank branch closures will not take place as rapidly as could have been expected just a short time ago. What’s happening?
