Swift: capitalising on customer collaboration
Swift’s head of banking talks about how the industry co-operative plans to build services based the data flowing through its interbank messaging systems.
Corporate & Commercial Banking
Keeping the customer profitable
Separating customer billing from core systems can have dramatic effects on the bottom line – a study by Boston Consulting Group at one bank found that 17% of clients were unprofitable.
Banks “turning away business” because of regulations says Aite
Compliance concerns are causing nearly one-third of banks to turn away business, according to a new report from Aite Group.
Citi signs up for SAP cloud-based corporate-to-bank solution
Cloud computing company SAP has signed a deal with Citibank for a major new cloud platform that promises to simplify corporate to bank connectivity for some of the world’s largest banks, Banking Technology has learned.
KPMG calls time on the universal banking model
Geopolitical shifts and increasing protectionism among nations will mean that the universal banking model is no longer sustainable – and there is little that anyone can do, according to Bill Michael, EMA head of financial services at KPMG. “The future shape of banking is beyond the control of boards, individual regulators or countries alone,” Michael […]
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.
Trade: adjusting to a new direction of travel
As trade flows shift across regions and economic headwinds blow, the trade finance business is facing challenges. Anne Queree examines how correspondent banking networks are adapting
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.
Rise in non-cash volumes brings innovation opportunity
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.
Strengthening financial visibility for improved risk management
New research shows that large businesses are continuing to identify risk management and corporate governance as pressing financial priorities. To achieve true visibility into these areas, corporate treasurers need detailed insight and accurate forecasting capabilities.
UniCredit to form joint venture with IBM for cloud services
UniCredit and IBM are to form a joint venture company that will offer IT infrastructure services to other financial institutions as part of a “multi-billion dollar”, 10-year agreement.
BAML boosts Boussuge to head GTS in EMEA
Bank of America Merrill Lynch has appointed Jennifer Boussuge as head of Global Transaction Services for EMEA. Boussuge has been with the company for more than 19 years, during which time she has held a number of leadership roles, most recently as head of global sales for GTS.
RBS poaches Berndt from BAML to head global transaction services
RBS has hired Carole Berndt as global head of transaction services. Berndt has been EMEA head of transaction banking at Bank of America Merrill Lynch for the past three years. She will be based in London and report to John Owen, chief executive, International Banking, at RBS, who said: “I am delighted to welcome Carole […]
UK Payments Council plans shared payments infrastructure
The UK Payments Council has published a ‘payments roadmap’, which sets out the steps that could help to build up a shared payments infrastructure in the UK.
Demica report shows strong growth for supply chain finance
Technology will contribute to the development of the supply chain finance market, with the growth of e-invoicing systems seen as a significant market accelerator by the majority of the banking community.
Celent study says banks should put outsourced payment infrastructures into the cloud
Banks need to cross a psychological barrier and embrace the concept of outsourcing their payments operations if they are to compete on product innovation and customer service rather than simply on cost.
Commerzbank chooses Clear2Pay payments platform
Commerzbank is to deploy Clear2Pay’s Open Payment Framework as a central platform for end-to-end XML-processing and to interface with new technology and products. Commerzbank will implement OPF as part of a longer term strategic payments renewal project for its clients in and outside Germany. The project will be implemented in phases, with the first go-live […]
Remittances: a window to the future?
The $400 billion global remittances market is moving from cash to account-based transfer, but costs, regulations and new competitors are still the key issues.
ING’s Mark Buitenhek on the Challenges facing Transaction Banks
Mark Buitenhek, global head of payments and cash management at ING, describes how simplification, SEPA, security and service are the principal issues facing transaction banks, along with regulation.
Rabobank’s Inneke Bussemaker at IPS 2013
Rabobank’s Inneke Bussemaker talks about The Brave New World of Payments session she chaired at IPS 2013, taking a critical look at the future of how payments work in a world where corporates will have to adapt to a consumer-driven agenda.
Dermot Turing, Clifford Chance, at International Payments 2013
Dermot Turing, partner at Clifford Chance, told the IPS conference that regulators are hampering innovation by making it hard for the industry to collaborate though application of competition law. He advocates that banks – particularly from the transaction and payments world – should be educating the regulators in order to get better regulations.
Belgian banks complete migration to SEPA CSM
The Belgian automated interbank retail payment system has been completely migrated to a new Clearing and Settlement Mechanism developed and operated by French payment processing specialist STET
KBC Bank selects Sentenial SEPA solutions for business clients
KBC Bank has partnered with payment specialist Sentenial to offer the latter’s Origix Corporate payment management solution to the bank’s business clients.
Maurice Cleaves, Barclays, at International Payments Summit 2013
Maurice Cleaves, Barclays, talks to Banking Technology editor David Bannister about the themes that emerged at the International Payments Summit 2013 in London.
BNP looks to standard Swift messages for improved collateral protection
BNP Paribas Securities Services and Swift are collaborating to enhance the bank’s collateral protection solutions for corporate, buy-side and sell-side clients. The bank has set up “Margin Project”, planning to integrate Swift’s standardised tri-party collateral messages to ensure full compliance with the upcoming regulatory requirements on OTC transaction, mitigation of counterparty risk, asset safety and […]
New Bank Payment Obligation standards launched by Swift
Swift and the Banking Commission of the International Chamber of Commerce have introduced new legal and technology standards for the new Bank Payment Obligation payment instrument. The BPO allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and […]
IPS 2013 Round-up: market changing faster than players or regulators
By the standards of the rest of the financial services sector, the payments industry has always progressed at a glacial pace. For the past 10 years, the key topic at the long-running International Payments Summit has been the Single Euro Payments Area.
IPS 2013: SEPA benefits hard to see for corporates
As the February 2014 deadline for implementation of Single Euro Payment Area compatible instruments approaches, focus is moving from banks to corporates – and the increasingly clear picture is that few European corporates see any great benefit from adopting the standards involved.
State banking: reforming the UK infrastructure
At the beginning of March, George Osborne travelled to the English seaside town of Bournemouth to make a speech at the JP Morgan operations centre there. It wasn’t Henry V’s St Crispin’s Day speech, but it may well go down as a watershed moment in the history of the UK financial services sector. Osborne is […]
IPS 2013 KPMG Daily Show Reports
Download daily International Payment Summit 2013 reports from KPMG
Corporate treasurers demand bank attention
Banks are not good at communicating industry change to their corporate clients, according to a panel of senior industry representatives speaking at the IPS conference in London today.
Competition regulation will stifle payments innovation
Proposed policies intended to promote competion in payments could stifle innovation and standardisation in the payments and transaction banking sectors, according to a partner in a leading law firm. Dermot Turing, partner in the international financial institutions and markets group at Clifford Chance, told delegates at the International Payments Summit in London that moves by […]
Standard Chartered poaches corporate finance head Burnett from UBS
Standard Chartered has appointed Peter Burnet as its regional head of corporate finance for northeast Asia. In his new role, Burnett will cover project and export finance, mergers and acquisitions advisory, structured trade finance, financing solutions and equity capital markets.
Barclays appoints new global head of liquidity product
Barclays has appointed Yera Hagopian as global head of liquidity product within its cash management team. Hagopian joins Barclays from JP Morgan where she was EMEA head of liquidity.
Banking on the real economy
Asset finance has had a lower profile than other types of loan. But the overall squeeze on lending and higher business loan rejection rates have led to an increased demand for leasing arrangements by SMEs. As a result, asset finance is now the third most common source of finance for businesses.
Corporate clients concerned about stability of banking partners
The good news is that 63% of corporate executives are “highly satisfied” with the service they get from their core banking partners; the bad news is less than half of them are confident that their banks are stable and operating securely within their risk parameters. This is making them increasingly interested in the stability of […]
SEPA Uncertainty
Big banks and their large corporate clients are in the final stages of preparation for the SEPA end date of February next year, but what about the smaller clients in the non-euro countries?
DTCC presses on with ISO 20022 corporate actions testing
US post-trade services utility the DTCC has begun client testing ISO 20022 messages for corporate actions covering distribution events.
