The UK’s Payments Council has selected Swift to build the country’s new central infrastructure platform in preparation for the next phase of SEPA regulation in 2016, through the provision of an automated central infrastructure platform for collection and maintenance of UK-specific SEPA routing data.
Bank of America Merrill Lynch has made a series of internal promotions in its EMEA Global Transaction Services team.
Fewer than a third of banks are at the implementation stage of projects implementing the Basel intraday liquidity monitoring rules that come into force next month – and most believe that industry collaboration will be needed to achieve a successful outcome.
The hotly-contested contract to provide a real-time payments system in Australia has been won by Swift, which has announced plans to develop real-time retail domestic payment solutions and compete to deploy them internationally.
Cross-border low-value payments service provider Earthport, has opened a new payment route into China to support trade payments into the region.
While a great deal of attention has been given to Lloyds Banking Group’s retail operations as its various elements are split up, less has been given to its activities in transaction banking, where it is “one year into a three-year journey” to transform itself and its customer offerings to create“the best global transaction bank in this region”.
This year marks the tenth anniversary of World Payments Report. In this extract from the report, which was launched at Sibos this week, the impact of innovation on payments is examined.
Social media technologies are gaining ground in both retail and wholesale banking, and there have been success stories so far.