The instant catalyst
Immediate payments are acting as a catalyst for banks to add value and develop holistic payment solutions. In this extract from World Payments Report 2015, the impact of immediate payments on banks’ offerings is examined
BankingTech
Rearranging risk
Pushing more complex products towards mandatory central clearing may increase the risks to which CCPs and clearing members are exposed. Frances Faulds examines whether CCPs can continue pooling risks in a safe and efficient way
Keeping it real
Global interoperability of real-time payments systems will require harmonisation of market practices and standards.
Systemic risk a top priority, says DTCC
The securities industry is beginning to “think more deeply” about the systemic risk associated with interconnectedness, said Michael Bodson, chief executive of the Depository Trust and Clearing Corporation (DTCC).
Securities forecast good, despite headwind
While the fundamentals for growth in the securities industry are good, market participants face challenges in taking advantage of these fundamentals, delegates heard yesterday. Speakers mulled the question of how regulated securities markets could return to growth, given the various headwinds they face.
JSE brings STP to bond confirmations
In an effort to reduce operational risk, improve automation and straight through processing the Johannesburg Stock Exchange (JSE) has been engaging with the investment management community and Swift to automate the bond confirmation process. A collaborative effort has resulted in the implementation of MT515 messages over Swift on behalf of the respective bond brokers.
Ericsson to connect banks, telcos and the unbanked
Using Sibos as a springboard into the wider financial services community, mobile technology giant Ericsson is hoping to persuade more banks to join Peru’s La Asociación de Bancos del Perú (Asbanc). The Association connects unbanked consumers, telcos and banks together to offer a full range of services across the globe.
D+H adopts Ripple distributed ledger to reduce costs
Financial technology company D+H is to implement distributed ledger technology from Ripple into its global payment services hub Global Payplus, in a deal the firm says will reduce costs and improve liquidity. Under the agreement, financial institutions that use Global Payplus, such as global banks, will link to a secure distributed ledger accessible with permission […]
Credit set to be the next area for disruption
Credit – the single biggest revenue driver among financial institutions – is set to be the next area where financial institutions will be disrupted. Innovation is very likely in this area and it will affect banks, said Udayan Goyal, co-founder and co-managing partner of Apis Partners, a private equity asset manager.
Blockchain potential explored
Two major European central securities depositories (CSDs) are investigating the potential of distributed ledger technology for asset settlement and reference data applications. London-based Credits is working with the CSDs on a proof of concept (POC) for the use of distributed ledger technology.
Technology trends in financial services
Blockchain, data analytics and mobile payments are among the technologies having the greatest impact on financial services, panelists in yesterday’s technology trends session agreed. In terms of development, as Commerzbank chief information officer Stephan Mueller described it, mobile and data analytics are “already there”, while blockchain is still in the beginning.
Move over Silicon Valley, the Chinese are already here
China is leading the world in financial technology innovation, Piyush Gupta, chief executive of DBS Group said yesterday. In a pro-China, pro-Asia plenary speech, Gupta highlighted a number of technological advances and was also positive on the economic prospects for the region. “Jamie Dimon said in his annual report Silicon Valley is coming. I tell […]
Chips off the old blockchain
The distributed ledger is one of the hottest topics in financial services. Born out of the crypto-currency bitcoin, the blockchain concept has gone mainstream and the first area to feel the impact is likely to be payments.
SETL breaks through 1 billion transactions per day on blockchain
SETL, the institutional payment and settlement infrastructure based on blockchain technology, claims to have which has broken the 1 billion transactions-per-day capacity barrier for blockchain movements in a test network.
Progress made on Sibos 2014 initiatives
A year on from Sibos 2014, several initiatives announced at that conference are making rapid progress, highlighting the increasing drive towards industry collaboration and the shift towards member-owned utilities in some key areas, including collateral management and client onboarding. They also highlight the continued rise of cloud-based connectivity, especially between banks and corporates.
Coming in from the cold
Fostering innovation in financial technology has become a much more collaborative affair: global banking giants are courting small technology start-ups in the hopes of gaining a competitive edge in financial services …
Infrastructures back Swift ISO 20022 harmonisation proposals
Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Caught in the crossfire
Cyber attacks cost little to perpetrate, but plenty to prevent. A focus on external and internal factors will help financial institutions to mitigate the threat.
Europe’s unsettling times
T2S, Europe’s harmonised settlement platform, is live. With a series of migration waves scheduled up until full live operation in July 2017, the next few years are likely to be characterised by intense activity as market participants finalise their strategies …
FIS Sibos15 Supplement: OPEN MIND
Click to launch the full edition in a new window Publishing Software from YUDU
PMPG endorses Swift messages for intraday liquidity reporting
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.
Deutsche creates FX index based on Autbahn data
Deutsche Bank’s Research unit is launching a new set of proprietary foreign exchange positioning indices based on data from its Autobahn FX trading platform. Called Corax – Categorised ORderflow from Autobahn FX – the indices will be published every Wednesday in the Corax Positioning Report.
Thomson Reuters opens Eikon with app studio
Thomson Reuters has launched an app studio for its Eikon financial desktop, which will allow third-party developers to create create apps that display as native applications on the Eikon screen, distributing them directly to Eikon users.
Fintech for corporates: partnering for success
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 […]
Technology fragmentation imposes testing burden on banks
As banks increasingly digitalise and provide mobile services to user’s mobile devices they face the double-whammy of having to test software that has to run on multiple environments and doing it in an increasingly short time-scales as continuous release development cycles become the norm.
The dangers of digitisation without customer insight
In bygone days the bank manager knew each of his customers by name but could offer them only the narrowest range of products. Today the computer can tailor bespoke financial solutions in a mass market – but has no empathy with which to convey its expertise …
Cobol – do banks speak our language?
With banking IT failures happening on a seemingly weekly basis, we perhaps should be examining the language they speak more closely. Most of our banks are built on systems and programmed with languages that pre-date the birth of the internet, let alone the birth of mobile banking …
LSE/DTCC regulatory reporting tie-up shows the way for collaboration
London Stock Exchange and The Depository Trust & Clearing are partnering to provide clients with a connection to the LSE’s UnaVista Approved Reporting Mechanism. The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation through their current connection from DTCC’s Global Trade Repository.
Citihub and Excel IT ally for cloud data centre services
Citihub Consulting, a global IT advisory firm, has partnered with IT services specialist Excel IT to offer a combined proposition covering infrastructure strategy and architecture through to migration logistics and ongoing support.
The emerging threat of trade-based money laundering in trade finance
Money laundering is a global phenomenon, evident in many parts of the world. Techniques have ranged from simple bulk cash movements across borders to more sophisticated techniques hidden in trade transactions. As trade between the Middle East and the rest of the world continues to grow, the threat of trade based money laundering becomes more […]
Digitalisation will double bank IT spending in next four years
Bank IT spending in developed markets is set to double over the next four years, according to figures provided by analyst firm Gartner. The rise is driven mainly by the desire to reduce maintenance costs on legacy IT and support newer, digital technologies.
Automating incentives boosts bottom line
Sometimes the least obvious changes can have a big effect, and very often those changes are in areas that might considered outside the remit of the people best placed to make them. Bank staff remuneration, for instance …
Roundtable: a world of real-time payments
Call it immediate, instant, fast(er) or real-time, the drive to speed up payments is being discussed in almost every country. As part of that discussion Banking Technology and ACI Worldwide brought together international participants from Australia, Europe, the UK and the US review the opportunities and challenges ahead.
September 2015: corporate Challenges
PULLING TOGETHER Banks are losing corporate business to alternative providers. What can they do to fight back? PREVIEW: SINGAPORE SLINGS AND ARROWS Innotribe takes centre stage at Sibos 2015 – what’s left for the traditionalists? SURVEY: LEGACY REPLACEMENT Multiple overlapping and redundant systems are holding back modernisation ROUNDTABLE: THE INTERNATIONALISATION OF IMMEDIATE PAYMENTS Call them […]
Singapore slings (and arrows)
For those who attend Sibos every year, it can seem as though the conference never actually ends – it simply adjourns until the following year. This year, the rise of distributed ledgers and the role of non-bank players in financial services look set to top the agenda – but there will also be a strong focus on innovation, women in finance and millennials.
Saxo opens trading platform with advanced API
Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.
Top-tier banks rally round R3 distributed ledger project
Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.
