SIBOS Interview: Bruno Prigent and Mathieu Maurier of Societe Generale
Bruno Prigent , Head of Securities Services and Mathieu Maurier, Global Head, Sales Management at Societe Generale
Banking
The instant catalyst
Immediate payments are acting as a catalyst for banks to add value and develop holistic payment solutions. In this extract from World Payments Report 2015, the impact of immediate payments on banks’ offerings is examined
Chips off the old blockchain
The distributed ledger is one of the hottest topics in financial services. Born out of the crypto-currency bitcoin, the blockchain concept has gone mainstream and the first area to feel the impact is likely to be payments.
Deutsche creates FX index based on Autbahn data
Deutsche Bank’s Research unit is launching a new set of proprietary foreign exchange positioning indices based on data from its Autobahn FX trading platform. Called Corax – Categorised ORderflow from Autobahn FX – the indices will be published every Wednesday in the Corax Positioning Report.
Goldmans, JPM and Morgan Stanley plan reference data utility
Goldman Sachs, JP Morgan and Morgan Stanley are building a reference data utility with SmartStream, which they say will provide data normalisation and validation for all asset classes. The project aims to reduce costs for consumers of data in capital markets by economies of scale.
Fintech for corporates: partnering for success
With global investment into the fintech arena growing at an astonishing rate, it is only a matter of time before the corporate sector begins to feel its true force. Fred DiCocco, head of market management, BNY Mellon Treasury Services, discusses how banks are adapting. Fintech is triggering a monumental shift in the payments space, with […]
Top-tier banks rally round R3 distributed ledger project
Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.
Reshaping the future of corporate banking
Pascal Augé, head of global transaction and payment services, Société Générale speaks to Daily News at Sibos about the growing importance of transaction banking for corporate customers
ISO 20022: we’ve reached the crossroads and need to act
Last year, the ISO 20022 standard celebrated its 10th birthday, and consequently it may seem a bit odd to say that after more than a decade since its inception, the financial community really should start taking assertive action. Since 2004, the ISO 20022 standard has, thankfully, witnessed substantial adoption but it has been what could be termed an “uncontrolled adoption”. So why is action so critical now?
BNY Mellon ‘back to normal’ today after SunGard system outage
BNY Mellon expects to have its SunGard InvestOne system back to normal today following testing over the weekend and the US Labor Day holiday and have caught up on the generation of net asset values for clients.
Commercial lending and supply chain finance under pressure from non-bank players
Digitally enabled supplier finance networks and alternative lenders now pose a significant threat to every part of the commercial lending business, with 84% of banks seeing pressure on the pricing of loan products as a challenge.
Barclays opens startup accelerator programme in London
Barclays and startup accelerator company Techstars have opened the application process for the third cohort of their Accelerator programme in London, which will give ten businesses a chance to “shape the future” of financial services, the bank has said.
GMEX signs Bank of America, prepares for launch
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
Reinforcing supply chain links
Despite the squeeze on capital created by the increased global regulatory burden, treasurers must still provide ample working capital for daily commercial flows, with minimum damage to their balance sheets. At the same time, the continuing rise in cross-border trade – frequently with relatively unknown and distant markets – increases exposure to geo-political and environmental risks. In such an environment, and particularly in light of post-crisis sensibilities, liquidity is more of a concern than ever, both to lubricate the daily machinations of trade and to act as a buffer for potential financial or supply-related shocks
Ageing reconciliation systems cost firms dear
Two-thirds of top-tier financial institutions have established reconciliation centres of excellence following a recent wave of consolidation of the reconciliation function – but more than half of firms say their reconciliation technology platform was at least five years old, and a quarter of respondents use platforms more than nine years old.
Commerzbank continues card processing contract with Worldline
Commerzbank has extended its existing credit card processing contract with Worldline for a further seven years. Since 1998 Wordline has provided the bank with an end-to-end processing service that includes complete processing of all the bank’s issued Visa and MasterCard cards.
Banks must replace ‘old digital’ to improve corporate treasury offerings
The ‘digitisation’ of banking provides an opportunity for banks to improve their treasury service offerings as they face a second wave of digital expectations from key corporate customers, according to a report from analyst firm Celent.
The new payments landscape: we need a new mind-set
Popmoney, Dwolla, Square Cash, Funding Circle, Venmo, Nutmeg, Transferwise, Stellar, Kabbage … this is not a list of the latest box office hits or some weird shopping list, but a handful of the emergent FinTech companies that are sprouting up everywhere like wild mushrooms. These companies are, to a certain extent, beginning to reshape and […]
HSBC sees boom in use of mobile among corporate customers
Corporate users are increasingly adopting mobile payments, according to figures from HSBC, which expects usage of its HSBCnet Mobile corporate banking platform to double over the next 18 months, reaching $100 billion in payments.
ISDA rallies support for derivatives data reporting rethink
Eleven financial associations have published their support for a new set of derivatives reporting standards developed by ISDA, which is calling for greater cross-border harmonisation of data standards – even if that means some national laws will have to be amended.
McKenna to head standards at Global Legal Entity Identifier Foundation
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
Citi launches futures trading on Velocity
Citi has launched Futures trading functionality on Citi Velocity, the trading platform which provides clients with access to Citi’s research and liquidity across FX, Rates and Credit. Launched in January 2012, Velocity 2.0 is continuously upgraded to include new features and asset classes. It provides clients with an integrated trading suite enabling fastest possible execution […]
Permanent TSB and Italian bank adopt Wolters Kluwer reporting tools
Irish bank Permanent TSB has chosen a regulatory reporting platform from Wolters Kluwer as part of its measures to cope with Basel III. Belgian bank Banca Monte Paschi Belgio, the Belgian branch of Italy’s Banca Monte dei Paschi di Siena, has also chosen the same OneSumX regulatory reporting solution.
Deutsche Bank plans three new labs as part of €1 billion digital investment
Deutsche Bank plans to open three innovation labs as part of its €1 billion investment in digital initiatives over the next five years. The bank has partnered with different technology partners for each of the Deutsche Bank Labs and will be working Microsoft in Berlin, HCL in London and IBM in Silicon Valley.
The Irresistible Rise of Real-Time Payments
Whatever label you use, instant, immediate, faster or real-time payments have moved to the top of the agenda at every payments-related event so far this year and are sure to be high on the agenda when Swift’s annual Sibos event lands in Singapore in October. Nearing the halfway mark for 2015, here’s a roundup of the stories so far …
Empowering transactions: from bank regulation to customer-centric innovation
Regulation has the potential to accelerate the payments innovation sparked by the evolution of internet and mobile technologies. By giving customers the reassurance that payments can be made safely and efficiently, regulation allows providers to develop new and exciting ways to serve customers
May 2015: Retail Revolution
Revolution Retail How consumer behaviour is changing banking The next frontier for digital banking As real-time payment systems proliferate around the world, attention is turning to the issues of cross-border payments Destined to fail IT services suppliers need to understand the peculiarities of bank procurement processes. A former insider spills the beans Conference reports News and views […]
Industry bodies look to harmonise ISO 20022 real-time payment implementation
Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of collating an initial variant of ISO 20022 usage guidelines for real-time payments before the summer.
ABN Amro extends Temenos relationship to private banking
ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.
April 2015: Rewiring the Markets
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 […]
Santander launches ISA mobile app
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Standard Chartered names Daimler man as CIO
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.
An industry imperative: Swift FIN to ISO 20022 migration
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.
Don’t be the slowest zebra in the herd
At lunchtime on the African savannah, you needn’t be the fastest zebra to survive –you need to avoid being the slowest. You can only be sure you’re not the slowest zebra if you can see what the rest of the herd are up to. Efforts in software security to share information on attacks, responses, and best practices are important to understanding what the herd is doing …
Citi Mobile Challenge extends deadline
The Citi Mobile Challenge, which seeks to unearth innovation and developer talent in some of the most far flung reaches of globe in a bid to get the best talent to help change the way the world banks, has extended its registration deadline to allow more people to take part.
Taking stock in fixed income
Fixed income markets have historically been a bastion of high-touch trading, with manual processes, large tickets and little standardisation. But as recent years have seen inventory slashed and balance sheets cut in face of rising regulatory pressure, finding liquidity has become more of a challenge. A group of banks are hoping to reinvigorate the market though a standardised messaging system.
Putting down the pen: how eBAM came about and what it means for corporates
Arising out of developments in standardised messaging, eBAM is one step towards the future of more accessible, safer banking
Deutsche Bank signs 10-year modernisation deal with HP
Deutsche Bank and Hewlett-Packard have announced a 10-year, multi-billion dollar agreement that will see parts of the bank’s global IT systems rationalised and migrated to HP platforms10
Citi Mobile Challenge comes to Europe, Middle East and Africa
Citi has opened the doors to entrants for its Citi Mobile Challenge in Europe, the Middle East and Africa, an annual competition that invites developers from around the world to build innovative financial services based on Citi’s digital platform.
Orchestral manoeuvres
When first reports of an integrated communications project that had attracted a $66 million investment from a consortium of banks led by Goldman Sachs appeared last year, there was an element of cloak and dagger about the enterprise. The truth is both more prosaic and more interesting according to David Gurle, chief executive and founder of the company behind it.
