Managing cash in stores remains a major challenge for retailers – trapped cash hinders working capital management and is unavailable for investment, debt repayment or business expansion. But new ways are being developed to manage store cash …
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.
The banking industry is complex by its nature but banks and bankers should look up from their budgets, listen to their customers, stop whining about regulations and collaborate on industry issues.
BNY Mellon says a global overhaul of its payments infrastructure will position it for “a new era” in payments and fundamentally change its relationship with customers and other financial institutions internationally.
A group of major international banks have agreed to jointly develop and use the centralised Know Your Customer Registry announced by Swift at the start of the year.
Ken Harvey, the erstwhile HSBC group chief technology and services officer and group chief information officer, is to become chairman of CLS Group Holdings and CLS Bank International, succeeding Gerard Hartsink who will retire in October.
Swift has announced the availability of a cloud-based application designed to eases the client onboarding process between financial institutions and their clients. First outlined at the Sibos 2012 event in Osaka, the MyStandards Readiness Portal, is backed by some big names in the business – HSBC, Citi and Clearstream spoke at a Standards Forum session […]
Something big is happening to the internet (and, no, I am not talking about Bitcoin though that would be a fascinating topic for another time). In a nutshell, it’s changing into something you wear rather than go to, writes Aman Narain, global head of digital banking at Standard Chartered.
What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.
In the wake of scandals involving manipulation of market indices, can statistical learning theory be used to detect and fix anomalies in Libor and other market indices?
Senior transaction banking executives have called for a political discussion to resolve the issue of emerging market access to banking services caused by the reduction of the correspondent banking services network.
Major global banks need to grasp social networks, cloud computing, user-generated content, personalisation, contextual information and gamification if they are to maintain a competitive edge and stay connected with customers. But they also need to ensure their innovations are transmitted thoroughly to all employees, according to panellists at the BAFT IFSA conference in London on Monday.
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
Bank of America is working with Facebook’s Open Compute project on a radical revamp of its systems. David Reilly, head of its Technology Infrastructure unit, tells Banking Technology why Software Defined.Infrastructures are the way ahead.
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.
BNY Mellon has added a link to Bloomberg to its AccessEdge investment management service, which the bank says will help clients to better manage their collateral.
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 […]
Mobile banking may be on the rise around the world but the bank branch is not dead, according to new research by IT firm GFT Technologies.
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.
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 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.
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.
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.
Dissatisfaction with global regulators has been expressed during the entire Sibos week, with the topic being raised in sessions across the board.
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.
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 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.
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.
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 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 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.
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.
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
Germany’s Commerzbank and Benelux-based Clearstream are planning to launch a new service designed to help customers in the G20 nations gear up for central clearing of OTC derivatives.
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.
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.
BNP Paribas Securities Services has added Collateral Access, an integrated and comprehensive collateral management system for both buy-side and sell-side clients.
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 Treasury officials and senior bank representatives showed diverging views over the future of retail banking at an event hosted by Experian in London yesterday, revealing differences of opinion about how best to reform the sector.
The Royal Bank of Scotland has appointed former FSA supervisor Jon Pain as head of its conduct and regulatory affairs division, reporting directly to chief executive Stephen Hester.
