BankingTech
Across the spectrum: ISO 20022 perspectives
The original concept of the ISO 20022 was to create a repository of data used in financial messaging to communicate business information of any type – and to be able to add any types of data that might arise in the future. There has been a lot of focus on the use of the standard in payments and securities messaging roles, this has obscured its current and potential use in other areas.
Work as one to rise above geopolitics, industry urged
The financial industry must work with regulators, market infrastructures and among itself to address the major issues it faces says Jamie Forese, co-president of Citi and chief executive of Citi Institutional Clients Group, during the opening plenary address at Sibos in Boston: “Perhaps the most important issue on which we must work together is encouraging regulators to build a coherent, consistent and unified regime of global financial regulation. We can’t build it ourselves; our role must be as advocates and as advocates we need to speak with one clear and consistent voice.”
Collaboration and utilities key to FMI success
Collaboration between international financial market infrastructures (FMIs) and the development of industry utilities will be a key factor in removing systemic risk and reducing costs for industry participants.
T2S competition is an opportunity, says Benito
The competition that will be introduced by the European Central Bank’s (ECB’s) Target2-Securities (T2S) project among CSDs is an “opportunity” said Jesús Benito, chief executive at Iberclear. In simplifying the post-trade infrastructure of Europe, T2S is prompting new competitive forces, market entrants, challenges and even creating new words.
Regulation overkill won’t prevent another crisis
More than two-thirds of delegates who attended the Demystifying Regulators and Regulation session yesterday said they had to file reports with six or more regulatory agencies and of those, a third report to north of 11 agencies.
Reports focus on global payments growth
Growth is returning to the payments industry and new market entrants are poised to take a share of that growth away from banks, according to a clutch of payments-focused white papers released at Sibos today.
Misys launches tool to integrate corporate to bank relationships
Misys has launched the Misys FusionBanking Corporate FrontOffice, which it said integrates the corporate to bank relationship more fully. It provides banks with a tool that can aid client onboarding and functionality while enabling end use treasury customers to get commercial lending data, trade finance and payment information – and prices – out of their bank much more easily.
Banks have a role to play in crypto currencies
When a new payment system such as Bitcoin arises it tends to be successful “in areas where a need is not being met”, Gottfried Leibbrandt, Swift chief executive told delegates yesterday. He said his fascination with Bitcoin – “both a currency and an innovation” – had not changed in the past 12 months.
Big data is getting bigger, say delegates
Data loads at financial institutions are expected to increase significantly, according to a poll of delegates attending yesterday’s technology forum session on big data.
Sepa Consultancy develops Simulator
Sepa Consultancy has launched the Intraday Liquidity Simulator, a liquidity dashboard solution that provides a timeline of events, outcomes and actions in multiple currencies.
BNP launches Liquidity Access
BNP Paribas Securities Services has launched Liquidity Access, a solution designed to help banks and broker dealers manage and monitor their liquid assets. The launch comes as various regulations, including Basel III and Dodd Frank, require market participants to hold more liquid assets, closely monitor their liquidity ratios and anticipate the evolution of their liquidity positions. Intraday liquidity management and reporting is likely to be a hot topic this week as the January 2015 deadline for Basel intraday liquidity reporting looms.
A guiding light
Building a single regional market is a goal for many groups of nations; however Europe’s development of a single settlement platform is the only effort to come to fruition.
Next out of the block
Forget Bitcoin, cryptographic payments networks will be the real game-changer, according to many people working in the payments world.
The high cost of failure
Data in all its forms and access to it in real time is becoming ever more critical as financial institutions seek to manage myriad risks.
The long arm of the law
Crypto and virtual currencies have garnered plenty of headlines in the past couple of years. Now financial regulators around the world are turning the spotlight on these instruments and attempting to bring them into the legal fold.
Cross border co-operation is key to the safe evolution of financial markets
Global financial markets are experiencing a paradigm shift as governments, regulators and participants recalibrate the processes and structures underpinning global finance. The challenge is to repair and remedy where needed, with dialogue between central banks, regulators and participants, but also to avoid creating fragmented markets or worse, unintentionally reintroducing risk.
Changing the world
Change is a theme at this year’s Sibos. But what type of change? A cross-section of delegates discuss what they think will be the main disruptive forces in their part of the business.
Clear2Pay Sibos14 Supplement One Payments World
Click to launch the full edition in a new window Online Publishing from YUDU
A city that commands attention
One of the most attractive cities in the US, Boston is also steeped in history: get your walking shoes on and explore the many historical and culinary delights of the Sibos 2014 host city.
Access all new areas
While mobile commerce and payments have been slow to take off in Western countries, the developing world has been stealing a march with innovative services and products.
Silver linings
In early September, cloud computing stories finally became interesting as an apparent hacking attack on Apple’s iCloud released hundreds of photos of ‘celebrities’ in the nude. It was a perfect story for the mainstream media, combining celebrities with nudity and a bit of unintelligible (to them at least) technology thrown in for good measure. Among […]
Banking Technology Awards 2014 – shortlist announced
Banks from as far afield as Brazil, New Zealand and Singapore are among the candidates on the shortlist for the Banking Technology 2014 Awards, announced today, showing the continuing competitive edge regional institutions are gaining over the large international players through technology.
ISO 20022: the beginning of the future?
The ISO 20022 standard is 10 years old this year, but its roots go back to some five years before that, and the story of its development and adoption is likely to go on for many years in the future. The datum point is probably the publication in 1999 of a Green Paper from SWIFT called ‘Building Standards for Tomorrow’. The modest proposal in that document is that “the next generation of standards will be based on a structured and formal framework”.
Intraday Liquidity Reporting
Reporting on the management of intraday liquidity risk will start on a monthly basis from 1 January 2015 to coincide with the implementation of the liquidity coverage ratio reporting requirements. Christian Goerlach, global head of FI balance sheet & liquidity, Deutsche Bank, takes a closer look at some of the issues facing global banks.
Open source middleware is everywhere in financial services
Enabling rapid growth and agility with creaking IT systems poses a major challenge to UK financial services companies where the IT infrastructure, as in many other industries, has evolved over time and features a wide variety of solutions.
How to build a better SunGard
As SunGard’s first ever chief technology officer, Steven Silberstein knows a thing or two about financial technology. In a past life, he was global head of prime brokerage at Lehman Brothers. He later became chief information officer at Chi-X Global, before joining SunGard in a newly-created position two years ago.
The brave new world of mobile banking
The digital era is changing your bank rapidly. Is your mobile testing & assurance practice ready? P Venkatesh, director of the product division, and Srivatsan TT, vice president of the solutions group, at Maveric Systems discuss the issues
The mobile movement driving multi-channel banking
Despite the significant challenges faced by the UK’s banking sector over the last decade, there has been a dramatic evolution in the customer experience following the introduction of online, telephone and mobile banking. While the branch remains an important channel, especially for older customers, mobile technology is rapidly redefining how customers interact with their banks.
Apple’s arrival will change the payments landscape – eventually
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Goods in transit: how lessons from retail can transform the financial data supply chain
Regulatory mandates call for the financial services industry to collaborate and rethink its data supply chain to tackle systemic risk and improve transparency. Looking at how the retail industry manages its supply chain could hold the key.
Getting ready for mobile payments
With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept
FIS to pay €375m for Clear2Pay payments capabilities – gets testing boost as a bonus
FIS has signed a definitive agreement to acquire Brussels-based payments specialist Clear2Pay for some €375 million, saying that the deal will bolster its global payments capabilities.
As global commerce expands, so does payments complexity: How should banks respond?
The increased globalisation of business has opened up new challenges – and opportunities – for companies and the banks that serve them. Corporate treasurers and finance professionals face complexities in the payments arena that range from inconsistencies in local payment processing to new regulations, emerging payment clearing systems and the need to manage geopolitical risk in an ever-expanding array of countries. To address these challenges for their clients, and for themselves, global banks need to invest and innovate to make sure they have the solutions to meet business needs today and in the future.
Corporate connectivity – is Swift the only answer?
Corporates want easier connection to their financial institutions – is Swift the answer or do other options exist?
Swift’s Chris Church: making plans for Sibos
As delegates finalise their plans to attend Sibos in Boston this month, Chris Church, chief executive Americas and global head of securities at Swift, discusses what they can expect
Ex-Deutsche Bank head trader launches investor app
A new app-based social network that uses gamification concepts to train traders and help them to hone their skills has been launched by a former Deutsche Bank trader.
