SIX to establish Swiss trade repository as Parliament discusses reform

Swiss post-trade specialist SIX Securities Services is planning to establish a central trade repository for derivatives transactions in Switzerland, using the London Stock Exchange’s UnaVista platform. The platform is being built to allow Swiss customers to report under the Swiss Financial Market Infrastructure Act, which is currently in parliamentary consultation.

Capgemini and First Data forge payments development alliance

Technology consultancy Capgemini has formed a global alliance with First Data to develop payment software based on First Data’s VisionPlus and AccessPlus solutions. The pair say that they expect to begin delivering new solutions in the second quarter of this year.

I am a bank

Remember those Microsoft adverts that touted ‘I am a PC’, showing everyday people as happy PC users? What if everyday people could do the same for their finances and say, ‘I am a bank’? What would that bank look like and what services would it offer to meet customer aspirations?

SmartStream acquires Algo Collateral business from IBM

SmartStream Technologies has acquired the assets of IBM’s Algorithmics Collateral solution and will add it to its existing solutions for the automation of the end-to-end post trade lifecycle, rebranding it as TLM Collateral Management. The system provides collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, large and small.

Thaw in investment freeze drives tech hires

Technology hiring is on the up, with employment within the industry forecast set to grow at 2.19% this year, nearly five times faster than the UK average, according to the 2015 Salary Guide from specialist recruiter Robert Half.

Italian banks go global as Europe prepares for T2S

Italian banks are preparing for T2S, as Europe seeks to reform its cross-border trading infrastructure and bring down barriers between EU countries. The preparations are driving smaller regional banks to make deals with larger global banks as they prepare for implementation in June.

Julius Baer begins core renovation

Swiss private banking group Julius Baer has chosen Temenos for a major core banking system replacement project intended to progressively modernise its front and back office systems globally.

Banking innovation: a marathon, not a sprint

Britain’s banks have reliably serviced the banking needs of millions of customers for more than a hundred years; providing a safe place to store hard-earned cash, mortgages to buy dream homes, and great interest rates to accumulate savings

CFTC commissioner attacks swaps regulation and proposes alternative agenda

US Commodity Futures Trading Commission Commissioner J. Christopher Giancarlo has condemned the CFTC’s implementation of swaps trading regulation reforms, describing its approach as highly over-engineered, disproportionately modelled on the US futures market and biased against both human discretion and technological innovation.

North American bank IT spending climbs as firms invest in external services

Banks in North America are ramping up IT spending on retail banking services and digital channels this year, with total IT spend expected to reach $64.8 billion by 2016, according to a new report by analyst firm Celent. The figures represent a 4.5% increase this year, as financial institutions increasingly turn to external software provider and specialists to bolster their abilities.

Polish mobile payments platform prepares for launch with six banks

A new bank-run mobile payment service is set to launch in Poland next month, following collaborative efforts between six Polish banks. The new service will allow customers to make payments in stores and online, withdraw cash and send P2P transfers, all using their mobile phone.

RMB breaks into top five world payments currencies

The Chinese renminbi has become one of the world’s top five payments currencies, according to new figures released by Swift. The currency, first introduced to foreign investors in 2007, overtook the Canadian dollar and the Australian dollar in the last two months of 2014 to reach the top five.

Iceland’s RB makes core banking system replacement

Iceland’s Reikninstofa Bankanna, which is jointly owned by the three main banks in Iceland, has opted for a full core bank replacement project which it says will help it to slash its costs and bring new services to the market more quickly.

Brazil capital markets spending set to rise as LatAm surges forward

Brazil’s capital markets IT spend is expected to reach $2.6 billion by 2017 as the country seeks to modernise its financial institutions, improve post-trade processing and integrate with global markets. The transformation creates both challenges and opportunities for foreign financial services companies in Latin America’s largest market, according to a new report by analyst firm Celent.

Increasing customer engagement through mobile banking

Consumers in both developed and developing countries have embraced their mobile devices to check balances, make payments and conduct other financial activities. As a result, mobile banking has become a must-have offering for financial institutions. However, many are still working out how to go beyond the basics to add value for customers, increase engagement and maximise the return on the mobile channel investment.

Taking care of business

With a string of client projects in flight, the immediate effects of the financial crisis weren’t a problem for Dublin-based Information Mosaic, but as projects that had run for two or more years started coming to an end, things got a little tougher. Fortunately, the company has one major shareholder that has both funds and a long-term view …

UK current account battle continues

Several of the UK’s major banking brands are losing customers to rivals such as Spanish bank Santander and building society Nationwide, according to figures released by the UK Payments Council – while competitor bank Nationwide continues to add customers.