BankingTech


Mobile is there for the taking …

Financial institutions have owned the commercial payment space for centuries, but are now seeing a threat to their incumbency from new technologies that have opened up the industry to other business sectors. Mobile transactions in particular are shaking-up banking.

Diplomacy needed to secure London’s future as a financial centre

A difficult future for the banking industry, but a potentially great one for London as a financial centre, was predicted by Sir John Gieve, chairman of VocaLink and former deputy governor of the Bank of England, speaking at the opening of Swift’s Business Forum in London today. But the industry must be careful and diplomatic if it wants to have any real say in how the future is shaped.

Swift sees expanding role as facilitator for industry collaboration

As delegates gather for the third Business Forum organised by Swift in London this week, issues on the global impact of regulation and the banking industry’s response to it are more pressing than ever Perhaps equally pertinent to the conference – the largest event Swift organises aside from the annual Sibos conference and exhibition, with […]

Dermot Turing, Clifford Chance, at International Payments 2013

Dermot Turing, partner at Clifford Chance, told the IPS conference that regulators are hampering innovation by making it hard for the industry to collaborate though application of competition law. He advocates that banks – particularly from the transaction and payments world – should be educating the regulators in order to get better regulations.

Standard Chartered targets collateral shortfall

Standard Chartered has enlisted Clearstream and Euroclear to make more efficient use of collateral, as tough new financial regulations drive investor fears of an impending collateral shortfall.

Belgian banks complete migration to SEPA CSM

The Belgian automated interbank retail payment system has been completely migrated to a new Clearing and Settlement Mechanism developed and operated by French payment processing specialist STET

HFT is here to stay says GreySpark report

Despite its negative public perception, high-frequency trading can act as a force for good in capital markets by adding efficiencies that help investors get a better deal – but only if it is properly regulated, according to new research by technology consultancy GreySpark Partners.

Lack of market surveillance systems “significant problem” says IOSCO report

The absence of market surveillance tools in many jurisdictions and regions is “potentially one of the more significant problems facing the markets in light of technological developments, such as the rapid speed of trade execution and increase in order volume”, says the International Organization Of Securities Commissions in its final report on surveillance.

BNP looks to standard Swift messages for improved collateral protection

BNP Paribas Securities Services and Swift are collaborating to enhance the bank’s collateral protection solutions for corporate, buy-side and sell-side clients. The bank has set up “Margin Project”, planning to integrate Swift’s standardised tri-party collateral messages to ensure full compliance with the upcoming regulatory requirements on OTC transaction, mitigation of counterparty risk, asset safety and […]

Electronic bonds: fixed income trading platforms proliferate

In contrast to the highly automated world of equities, bond trading is an area of the markets that is still heavily reliant on the telephone as a a trading tool, with person-to-person calls making up the bulk of activity on bond desks.

New Bank Payment Obligation standards launched by Swift

Swift and the Banking Commission of the International Chamber of Commerce have introduced new legal and technology standards for the new Bank Payment Obligation payment instrument. The BPO allows buyers and suppliers to secure and finance international trade transactions.  It provides the benefits of a letter of credit in an automated and secured environment, and […]

Angry TradeTech delegates clash over HFT

A session at Trade Tech in London fell into chaos earlier today, as furious delegates hurled accusations across the table and members of the audience sparred aggressively with panellists.

Fidessa plans ASEAN trading network

Trading technology company Fidessa has partnered with Asian brokers CIMB, DBS Vickers, Maybank Kim Eng, OCBC Securities, Philip Securities and UOB Kay Hian as part of a plan to create a one-stop trading service for all ASEAN markets.

US banks Heritage and Central Valley adopt Fiserv tools

US banks Heritage Bank and Central Valley Bank have adopted an account processing tool called DNA from financial technology provider Fiserv. Parent company Heritage Financial says the platform’s flexibility will help the banks grow.

IPS 2013: SEPA benefits hard to see for corporates

As the February 2014 deadline for implementation of Single Euro Payment Area compatible instruments approaches, focus is moving from banks to corporates – and the increasingly clear picture is that few European corporates see any great benefit from adopting the standards involved.

Beyond a joke

A journalist, a politician and a banker walk into a bar … sounds like the beginning of a joke, doesn’t it? Feel free to submit a punchline: personally, I’m starting to think that it would be a very sour joke. With banker-bashing now an established national pastime, the press having spectacularly fouled their own nest […]

State banking: reforming the UK infrastructure

At the beginning of March, George Osborne travelled to the English seaside town of Bournemouth to make a speech at the JP Morgan operations centre there. It wasn’t Henry V’s St Crispin’s Day speech, but it may well go down as a watershed moment in the history of the UK financial services sector. Osborne is […]

Dealing with Generation Y

Banks should pay attention to the needs of a new generation of consumers if they want to secure their business lines for the future, according to Mark Hale, head of payments at KPMG.

Mobile will kill the traditional bank branch says Brett King

Disruptive digital technologies such as mobile and the internet will destroy the established retail banking business models by removing the physical product and replacing it with a digitised bank account, according to Brett King, speaking at the IPS show in London today. “In the old days there was a physical product, and a physical store,” […]

Corporate treasurers demand bank attention

Banks are not good at communicating industry change to their corporate clients, according to a panel of senior industry representatives speaking at the IPS conference in London today.

Competition regulation will stifle payments innovation

Proposed policies intended to promote competion in payments could stifle innovation and standardisation in the payments and transaction banking sectors, according to a partner in a leading law firm. Dermot Turing, partner in the international financial institutions and markets group at Clifford Chance, told delegates at the International Payments Summit in London that moves by […]

State banking

Banking is too important to be left to banks – can governments do any better Also in this issue: Profile: Grand designs – Arun Jain, founder of Polaris Financial Technologies Same day, same settlement: same day payments are being adopted worldwide. What does that mean for D+1 settlement in Europe? Riding the OTC rollercoaster: new […]

Citi sets out segregated collateral service

As tough new rules requiring the collateralisation of OTC derivatives take hold in Europe and the US, Citi has retooled its OpenInvestor investment services to include segregated collateral custody accounts – a move the bank says will help mitigate counterparty risk and improve collateral efficiency.

Grand designs

Arun Jain, chairman and chief executive of Polaris Financial Technology, is a great believer in the power of design to transcend ordinary development work and deliver superior results – results that pay. Banking Technology caught up with him at the opening of the firm’s new design centre in Chennai.

North America drags feet on big data says Celent

Despite its potential, the vast majority of financial services firms have still not implemented big data tools, according to new research conducted in North America by analyst firm Celent.

Riding the OTC rollercoaster

As new rules for OTC derivatives take hold in Europe and in the US, banks and asset managers face a complex cocktail of mandatory clearing, reporting and increased collateral requirements.

Competition stirs ATM revolution

A new generation of ATMs that offer customers more personalised services will provide a core tool for increasing levels of banking competition, according to a new report by business consultancy Navigant.