Dubai, 16-19 September 2013
The $400 billion global remittances market is moving from cash to account-based transfer, but costs, regulations and new competitors are still the key issues.
As delegates gather for the third Business Forum organised by Swift in London this week, issues on [...]
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
SEPA solutions specialist Sentenial has completed its planned investment in the Benelux Region with the opening of a fully-supported operational office in Amsterdam and the relocation and expansion of its Brussels office.
BATS Chi-X Europe has appointed David Howson, formerly of Equiduct Systems, as its chief operating officer.
Credit advisory and investment partnership Venn Partners has launched Venn Risk Analytics, a financial analysis platform that it says will provide an independent and transparent approach to the analysis and valuation of structure finance products.
The absence of Chinese banks from this year’s Sibos is a real blow, particularly as the event is in their backyard. During the past few years the Chinese banks have expanded their presence at Sibos, reflecting the rising influence of China as its economy continues to thrive compared with Western economies.
Managing operational risk is an unglamorous part of life at every major financial institution. Yet as a string of recent court cases, fines and regulatory actions testify, it is an area that is increasingly forcing its way into company boardrooms and commanding top-level attention.
At last year’s Sibos, Swift and the Banking Commission of the International Chamber of Commerce (ICC) signed a cooperation agreement aimed at enabling industry-wide adoption of the Bank Payment Obligation (BPO). One year on and there are still questions surrounding the “electronic letter of credit” and how successful it will be.
Global corporate actions are widely recognised as having some of the highest risks outside of the trading floor, says Rob Hardy, head of governance at JP Morgan asset management. “There are lots of pits and traps – out of all the back office functions it’s the one where you could lose the most money.”
A quarter of financial institutions are exiting some lines of business because of increased capital requirements, says a survey conducted by the Professional Risk Managers’ International Association (PRMIA), a non-profit professional association of 86,717 members in 210 countries. Survey respondents said they expected the introduction of central clearing to result in lower profit margins, increased collateral requirements and a general increase in the cost of doing business in areas such as OTC derivatives.
Brian Longe, chief executive of Wolters Kluwer Financial Services, speaks to Banking Technology editor David Bannister about winning the Best Governance Risk and Compliance Service category in the 2012 Banking Technology Readers’ Choice Awards.