Dubai, 16-19 September 2013
Banks need to cross a psychological barrier and embrace the concept of outsourcing their payments operations if they are to compete on product innovation and customer service rather than simply on cost.
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 [...]
GFT Technologies has taken an 80% stake in Italian IT consultancy Sempla for an undisclosed cash sum. It has the option to acquire the remainder of the company after five years.
Dutch software company Bell ID has released a new tool that aims to simplify the provision of [...]

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.
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.









