Financial Services/Finserv


The gift of plug and play technology

The technology that banks offer clients can be thought of as a true gift, enabling improvements that can reduce risk, increase efficiency and ultimately put firms on a surer footing. And it is the most advanced and newest platforms which grab everyone’s attention.

Commerzbank connects to Regis-TR ahead of EMIR

Germany’s Commerzbank has just signed up to Regis-TR, the European trade repository owned by German CSD Clearstream and Spanish CSD Iberclear, as part of the bank’s drive to ready itself for the EMIR legislation on OTC derivatives reporting.

Second IT glitch “unacceptable” says RBS

An IT problem that left customers of RBS and its Natwest and Ulster Bank subsidiaries unable to use their accounts yesterday evening was described as “unacceptable” by a bank spokeswoman. For three hours – on what was expected to by the largest online shopping day of the year, dubbed “Cyber Monday” – the banks’ customers […]

London calling to the Chinese renminbi

Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.

HSBC and Lloyds losing in switching stakes

Santander, Nationwide and Halifax have gained the most from the UK’s account switching service, while traditional banking names Barclays, HSBC Lloyds & TSB and NatWest have lost out, according to new figures released by advisory firm TNS.

RBS commits to V.me by Visa mobile wallet as Nationwide beats it to roll-out

RBS has confirmed that it is to launch V.me by Visa, the digital wallet built by Visa Europe. The decision follows a pilot programme, and will mean that RBS follows in the footsteps of Nationwide Building Society, which has just become the first UK high street brand to roll out the wallet to its customers.

Don’t underestimate Turkey says HSBC

Most people have no idea how good Turkish wine is, according to Martin Spurling, chief executive of HSBC Turkey. With over 1.5 million acres of land devoted to vines, it is a little-known fact that the Mediterranean country is the world’s fourth producer of grapes. The same can be said for Turkey’s ambitious plans to develop Istanbul as a major international financial centre.

Metro Bank all about customer care, says Donaldson

Staff at Metro Bank don’t have sales targets – instead, they are incentivised to enhance the customer experience, says Craig Donaldson, chief executive at Metro Bank. The bank is hoping this approach will pay off as it continues its campaign to win over the UK high street with the launch of a new branch at Cheapside in the heart of London.

Standard Chartered Hong Kong rolls out digital branch

Standard Chartered Hong Kong has opened its first ‘digital’ branch, in which customers are greeted by giant screen TVs, the bank’s mobile apps in a special experience zone, and QR code scanning on an iWall, as well as e-signature pads and virtual queuing.

Looking to China’s Skipped Generation

China’s miraculous economic catch up since reform and opening up has created an unprecedented generation of consumers. The way this generation has adopted the on-line world in China is very different from that in the West.

HSBC rolls out mainland China corporate cash management solutions

HSBC Bank China has completed its first electronic tax payment for a corporate client in Shanghai, in a move that the bank says is the first among all foreign banks I the city. The new tax payment service deducts funds in real time and enables customers to complete tax reports and process payments on the government’s tax system terminal from any location.

LCH. Clearnet appoints new chief executive

LCH.Clearnet, the clearing house subsidiary of the London Stock Exchange, has appointed Suneel Bakhshi as its new chief executive. He will take up his new role in early 2014.

Citi builds out global eBAM service and cross-border payments

Citi has expanded its electronic bank account management service to 55 countries, in a move that the bank says will help corporate treasurers to better manage risk. The bank also expanded its cross-border WorldLink payment service into new emerging markets.

Markit masses support for open messaging service

Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.

The challenges of paying Asia faster

Slowly but steadily, financial institutions and their corporate clients are beginning to talk about growth again. Markets are gradually shifting from a purely defensive position; the Fed has spoken about tapering its quantitative easing programme; and many companies are putting expansion back on the agenda in response, writes Greg Murray.

Making ‘social’ communication pay

Social media may be a dirty word to most banks’ CFOs. But when 28 hours of a 40-hour week are lost to emails and searching for information, there has to be a better way, according to Tony Zingale, chief executive at Jive Software, which has just launched in Europe.

Lloyds partnership marks start of overseas extension

Lloyds Banking Group’s partnership with Standard Chartered Bank, announced this week, is likely to be the first of a series of such deals intended to allow the UK-focused bank to extend its client services overseas.

NDAB-Deutsche Bank deal will ease dollar flow

The National Bank of Abu Dhabi (NBAD) has signed a deal with Deutsche Bank to use its Guaranteed US Plus payment solution, which it promises will improve price transparency for clients with individual US dollar flows into the US.

Operational risk: Hell is other people

As the focus on operational risk increases, Nicholas Pratt discovers that the greatest threats to a bank’s security lie outside of its four walls

Innovation: there is a better way

Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.

Payments: the final push

For those involved in European payments, the final months of this year are likely to be characterised by a frenzy of activity as the deadline for migration to single euro payments area instruments looms.

Deutsche Bank signs wealth of global deals

Deutsche Bank has signed deals with Dubai Islamic Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China and China Merchant Bank to use its products and services in Europe, the Middle East and Asia.

Securities settlement: the guessing game

With implementation of Europe’s Target2-Securities beginning in 2015, financial institutions are still defining their strategies and business models. Some questions remain to be answered.

Barclays builds on Pingit head start

Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.

Standard Chartered backs mobile wallets

Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.

BAML builds single data repository

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.