Sibos delegates have sent a blunt message to the world’s financial regulators that new regulations are neither well planned nor well implemented. Eighty per cent of delegates expressed their negative views regarding regulation in yesterday’s regulation plenary session.
A round-up of shorter news items from Sibos 2013 in Dubai
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day. Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe […]
Despite making headlines for all the wrong reasons for decades, Afghanistan is now trying to persuade the international banking community that there is a brighter future ahead for the country
Front and centre of the agenda that Swift set out at the beginning of this week’s Sibos is the concept of collaboration and cooperation – a perennial theme for Swift, but Leibbrandt told Daily News at Sibos there is a change in the air.
EBA Clearing has signed five financial institutions, 11 European service providers and two corporates for its MyBank E-Mandate pilot, which will begin in October and will test the firm’s solution for Sepa core direct debits for reliability, security and usability.
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.
The complexity of corporate actions has stymied automation efforts for more than a decade. But there could be light at the end of the tunnel …
With customers expecting consistent service across all channels, banks must step up to the plate and streamline their processes when it comes to customer interaction. Using the omnichannel approach, they’ll also reap the rewards of better customer intelligence and a clear idea of how best to spend precious budgets.
How is the global custody and asset servicing model changing? Will consolidation occur? What do clients want? Daily News at Sibos finds out
Momentum is building behind the European Central Bank’s (ECB’s) Target2-Securities (T2S) settlement platform. With the ECB confirming the platform will be delivered on time, further proof of the industry’s confidence in the initiative has come via a series of announcements regarding connectivity to T2S.
Crawling from the wreckage – Daily News at Sibos asks whether the industry will experience another Lehman Brothers-type crisis. Have market participants learned their lesson?
Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
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 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.
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
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.
Transaction banking specialist vendor Fundtech has released a new financial messaging platform called Global Messaging Plus, which it said would make service bureau offerings such as software as a service more attractive to tier one and two banks.
Daily News at Sibos Day 2 2013
Bitcoin has had a bizarre beginning, full of whats, ifs and maybes. In what seems to be a case of virtual reality came virtual cash, with software written by an anonymous donor and a principle that could play a leading role in the future of online transactions.
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Swift’s “True North” is the fact that it is a cooperative, and it will focus on this as it moves towards developing collaborative industry utilities to address complicated issues in areas such as KYC.
Clever use of data about customers can be the key to success as customers move from cash to cards, according to Oliver Huwes, chief executive at Russian bank Tinkoff Credit Systems.
The UK’s second largest building society is being moved to a modern delivery platform managed by HP, with the establishment of a Shared Services Alliance with HP Enterprise Services UK to offer the platform to a wider range of UK financial services institutions.
Cover story: It’s not just the criminals who are trying to get into your systems – banks need to look at the bigger picture to create an effective cyber defence Also in this issue: Where worlds collide: In Turkey’s dynamic financial services markets minarets mix with mobile masts and ATMs with ancient monuments . Swift […]
Experts are saying millions of people will abandon their old banks and switch to a new provider, following the introduction of new rules on 16 September designed to make it easier to change banks. But estimates vary widely, from single digits to tens of millions.
Standardised data architecture at financial institutions is no longer a ‘nice to have’. Regulatory pressures and headline grabbing fines have rocketed enterprise data management to the top of the boardroom agenda.
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
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.
Five years on from the financial crisis and banks still face a rising tide of regulatory initiatives. Daily News at Sibos asked several industry executives whether the price of regulation is becoming too high
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today: James Wills, senior business manager, banking initiatives/standards
