Innovation in a mobile real-time world will be to the fore in the discussions as the US payments industry gathers at Nacha Payments 2015 to consider the opportunities and challenges against a background of rapid technological and regulatory change. What can those embarking on project learn from those who have already been there?
Financial institutions face an unprecedented array of threats including traditional fraud, ATM skimming and cash harvesting, as well as more sophisticated cyber threats and online hacking. This online webinar will explore how video-driven analytics can be used to provide insights into business vulnerabilities and to protect against fraud and other types of threat.
Broker crossing networks will be heavily affected by upcoming European Commission rules on dark trading. But with 18 months to go until implementation, uncertainty still unnerves brokers and asset managers – prompting some market participants to re-examine whether they want to trade at all.
CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.
NCR has announced a radical new approach to ATM network deployment, with cloud-based enterprise application allowing banks to control and manage thin-client devices running a locked-down version of the Android operating system.
Banks and asset managers are being forced to learn to live in a world of greater specialisation, as unbundling of research and execution drives greater competitive pressure on costs. That is probably a good thing – but it will take the buy-side and the sell side in different directions, according to senior executives speaking at the TradeTech conference in Paris this week.
Security specialist RiskIQ says the growth in digital business is producing an increasing threat to banks across the world, with the largest banks owning an average of 7,500 public facing digital assets – 60% of which are outside the company firewall.
Royal Bank of Canada has made the first cross-border Renminbi payment on Canada’s new RMB Trading Hub through the hub’s designated clearing bank, Industrial & Commercial Bank of China (Canada).
Buy-side firms stand to gain from developing their own smart order routers and carrying out their own capital markets research. But the growing independence of the buy-side must still be weighed against sell-side advantages of scale, according to speakers at the Trade Tech conference in Paris on Tuesday.
Boat Services, the OTC trade reporting service provider owned by technology vendor Cinnober, plans to introduce a MiFID II compliance solution, offering publication services for all instrument classes. It will apply for authorisation by the FCA in the UK when Approved Publication Arrangement registration is available in 2016.
Türk Ekonomi Bankası, one of the private sector commercial banks in Turkey, and a strategic partner of BNP Paribas, has launched an enhanced digital banking service featuring the ability to hold live chat sessions with bank staff.
IG Group has launched a trading app for the Apple Watch, which it says is one of the first of its kind. The Apple Watch is due to be released on 24 April.
Finnish online-only bank Holvi has partnered with GBGroup, an identity intelligence specialist, as part of a drive to ensure that all its customers are verified while reducing the time this process takes. Holvi does not operate any branches, and as such relies on other methods to confirm the identity of its customers.
Rewiring the Markets Is regulation making capital markets more efficient? Don’t bet on it … Procurement Policies Learn to love the annual budgeting process Supplier management Balancing cost and manageability in supplier sourcing Learning from experience What to look for as real-time payment systems proliferate unstoppable evolution How changes in payments will make some banks […]
To maintain growth in our globalised, always-connected and increasingly regulated world, banks need to use digital assets and capabilities to create new value propositions for their customers, we know. The problem is how? And what is the best way of doing so in the face of what some worry could be a complete fracturing of the market due to the rise of non-traditional competition from possible banks like a Google or an Amazon?
Two enhancements to the Current Account Switch Service (CASS), announced in the Chancellor’s Autumn Statement last December, have been successfully implemented by the banking industry.
Immediate payments have been available for some time now. The UK led the way with the launch of the Faster Payments Service in 2008 and other countries have followed, including Sweden, Singapore and Mexico. Real-time technology is fundamental to any mobile payments initiative and immediacy is the new norm of the digital age. Other countries can learn from the UK experience to avoid pitfalls and realise the benefits sooner.
There are two major trends in the cross-border payments world: an explosive growth in the number of payments between developed and developing countries, and the fact that governments, regulators and commercial actors increasingly favour payments being executed in local currency and discourage the use of US dollars to settle local.
The UK’s new Payment Systems Regulator looks set to shake up the way the industry is structured, with reviews of the ownership of the infrastructure and of the way that indirect access is managed through sponsoring banks.
The inaugural meeting of the Open Forum on Pan-European Instant Payments drew 77 representatives from 55 payment service providers, technology providers and other stakeholders to Frankfurt this week to kick off discussions about requirements and collaboration on infrastructure services to support instant payments at a pan- European level.
Hong Kong’s share of the international Renminbi market has fallen over the past two years as other countries increase their share, which now stands at 25% compared to 17% in February 2013
Recently appointed president of investment and advisory firm Anthemis Amy Nauiokas talks about her plans to reinvent the world of financial services.
Russian investment banking firm BCS Financial Group says using IBM Commerce to create and manage personalised marketing campaigns has increased cross sales of its online trading, brokerage, and investment strategy consulting services have increased by 20% in six months.
Long-term investors are deeply concerned about their ability to find liquidity, with nearly 90% afraid that predatory high-frequency traders are preying on their flows, according to a new survey by block-trading network Liquidnet.
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Türk Ekonomi Bankası is to launch a mobile contactless payment application using Visa Europe’s host card emulation functionality to provide secure contactless payments.
Standard Chartered has named Michael Gorriz as group chief information officer, replacing Jan Verplancke, whose departure was announced earlier this year. Gorriz is currently vice president and CIO at Daimler.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
The Banking Industry Architecture Network has announced six new members including ACI Worldwide, Atos, EY and Zafin. Its global network now numbers 58 banks, service providers, software vendors and academic partners.
Adoption of innovative technology will be central to the fulfilment of bullish growth predictions of 25% or more for transaction banks in the Middle East, according to a survey of market participants during a recent conference in Dubai.
The UK should lead the development of an EU Capital Markets Union because of its better-established markets, according to a report from a House of Lords committee published today.
As international regulators demand more detail from banks on payments to individuals and companies, the first order of business is to ensure compliance with mandates. Migrating Swift MT payment formats to ISO 20022 will allow the industry to shape the transformation of payment messaging standards rather than have others shape it – but there is a need to set timelines for implementation or cede control.
The Plato Partnership is a consortium of asset managers and broker-dealers working to build a non-profit trading utility in Europe. The group has just signed four more asset managers, including AXA Investment Managers, JP Morgan, Union Investment and Fidelity Worldwide.
Banks have been warned that new entrants will come and ‘eat their lunch’ if they fail to remain relevant to the modern consumer in the face of an ‘unstoppable revolution’. The point was made repeatedly during sessions at the Payments International conference in London this week.
Myanmar’s Yoma Bank is to install a new core banking system provided by vendor Misys, as part of a major transformation project at the privately-owned bank. Yoma especially wanted to be in a position to benefit from the growth of mobile technology in the country.
Misys has launched a banking app prototype for the upcoming Apple Watch, which is due to launch in April, that allows users to make transactions by speaking at their watch.
Four out of five banks believe they will have to replace their core banking system in the next three to five years, with nearly 90% in favour of including SaaS or cloud based services as part of the infrastructure, according to a new survey of senior bank executives.
The financial services industry faces a daunting task as the European Commission’s MiFID II legislation draws close to its final deadline, and grave concerns about inconsistencies in the rules and the pressures of meeting it remain.
Swift has hired David Lefferts as managing director, market initiatives for the Americas. Lefferts joins Swift after eight years at Markit, where he held product development, cross-product strategy, and senior business development roles over his eight year tenure.
Financial market regulations across the globe are increasingly focusing on risk management. This includes ensuring it is clear who firms are trading with and for, and confirming that firms can identify the instruments being traded. As a result, the field of reference data is increasingly held under the regulatory microscope and that lens extends to the standards used to identify financial instruments, writes Chris Pickles.
