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Payments and blockchain: Pilotville

Blockchain and payments – Piltoville

The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.

Blockchain: the theme for 2016

Blockchain

Blockchain and distributed technology have been hot topics at Sibos this year, with a raft of announcements from banks and fintechs alike. One of the areas identified as of most promise is trade finance – an area of banking that is rife with paper-based processes.

SEPA: lighting the blue touch paper

Sibos 2016 - SEPA

The single euro payments area is up and running and has proved to be a catalyst for change in the payments industry. We look at the story so far.

BAML launches China cross-border cash pool in Shanghai

BAML has open a China cash pool based on the Shanghai FT zone

Bank of America Merrill Lynch has launched an automated US dollar cross-border cash pooling services for corporations operating in the Shanghai Free Trade Zone. ZF TRW, a division of ZF Friedrichshafen, manufacturers of automobile safety systems, has implemented the working capital solution and is serving as the pilot client.

GMEX signs Bank of America, prepares for launch

GMEX is headed by Hirander Misra (pictured) and Vj Angelo

International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.

Technology consumerisation will soon drive wholesale innovation

The consumerisation of technology is driving the development of new services in wholesale banking as much as it is in retail, as customers demand real-time access through mobile channels.

Power to the people

payments

The growth of peer to peer lending demonstrates that there is an alternative to the traditional lending model of banks. But can crowd funders ever replace the incumbents and do they enjoy long-run advantages or face being co-opted?

As global commerce expands, so does payments complexity: How should banks respond?

Burning_issues_Frames_Sarah_Billings

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.

Payments as a Working Capital Tool

Burning_issues_Frames_Chris_Bozek

A lesson learned from the global financial crises was how critical free cash flow can be for corporates, their customers, and their suppliers. As businesses seek to unlock cash flow from day-to-day operations, savvy treasurers have discovered vendor payments as a means to extend payment terms while improving vendor health, writes Chris Bozek, Managing Director, Head of Global Trade and Supply Chain Products Bank of America Merrill Lynch.

Pass Go, Do Not Go to Jail: EC backs down on SEPA deadline

Barnier: migration rates are not high enough to ensure a smooth transition

The EC proposes that banks and payment services providers will not be penalised for continuing to process legacy payments during a six-month “transition period” after the February deadline for SEPA migration.

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