29 Sept - 2 Oct 2014
FIS has signed a definitive agreement to acquire Brussels-based payments specialist Clear2Pay for some €375 million, saying that the deal will bolster its global payments capabilities.
Europe now represents 10% of total Renminbi payments in value worldwide and is leading adoption beyond Asian countries, with four European countries in the top 10, excluding China and Hong Kong, according to Swift. Overall, the RMB strengthened its position as the seventh most used global payments currency and accounted for 1.57% of global payments.
Banks are paying lip-service to the concept of customer service and are years behind on innovation – and unless they literally get their act together by collaboratively embracing open software libraries and sharing applications and data, they will not survive.
The Royal Bank of Scotland has launched a new service that lets corporates manage up to 18 local Chinese bank accounts through a single global electronic banking platform.
Banks should be wary of jumping the gun and assuming that SEPA implementation is a done deal. Far from being over, the task of learning to live with SEPA is just beginning.
The increased globalisation of business has opened up new challenges – and opportunities – for companies and the banks that serve them. Corporate treasurers and finance professionals face complexities in the payments arena that range from inconsistencies in local payment processing to new regulations, emerging payment clearing systems and the need to manage geopolitical risk in an ever-expanding array of countries. To address these challenges for their clients, and for themselves, global banks need to invest and innovate to make sure they have the solutions to meet business needs today and in the future.
As delegates finalise their plans to attend Sibos in Boston this month, Chris Church, chief executive Americas and global head of securities at Swift, discusses what they can expect.
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.
The UK’s Clearing House Automated Payments System turned 30 earlier this year. It wasn’t an anniversary marked [...]
As trade flows shift across regions and economic headwinds blow, the trade finance business is facing challenges. Anne Queree examines how correspondent banking networks are adapting