correspondent bankingRSS

Payments: where have all the correspondents gone?


At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.

Research: Decline and fall in correspondent banking relationships

Accuity 1

Correspondent banking relationships have reduced globally by 25%, despite the fact that global GDP per capita grew during the same period, following the 2008 financial crisis, according to research by Accuity. Henry Balani, global head of strategic affairs at Accuity, says: “The irony is that regulation designed to protect the global financial system is, in […]

Payments: correspondent banking faces its future

Anders la Cour, Saxo Payments

In an increasingly globalised economy, payments have struggled to keep up and pressure is mounting on the traditional correspondent banking model.

Swift’s global payments innovation initiative now live

New addition to Swift's network

Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.

SIBOS Interview: What do we have to consider in correspondent banking moving forward?

Christian Westerhaus, Deutsche Bank

Christian Westerhaus, Global Head of Product & Strategy, Institutional Cash Management, Deutsche Bank, talks about the future of correspondent banking.

Sibos 2016: De-risking in Africa

De-risking in Africa

Correspondent banking enables banks to access products and services which might otherwise be unavailable. By enabling cross-border transactions and access to overseas products, correspondent banking plays an important role in the global payments landscape, states Swift.

Sibos 2016: collaborate to drive correspondent banking

Sibos 2016: collaborate

More collaboration is required among members of the correspondent banking community, despite the progress that has been made through efforts such as the Global Payments Innovation (GPI) initiative.

Energising correspondent banking

Day2 global payments

Reports of the death of correspondent banking are highly exaggerated. But the business model is changing and Swift hopes its Global Payments Innovation Initiative will improve cross-border payments. Swift is often accused of moving slowly, yet the Global Payments Innovation Initiative (GPII) gives lie to that. First discussed at Sibos 2015 in Singapore, Swift will […]

Correspondent banking faces ‘existential crisis’ warns PwC

Barclays' closure of correspondent accounts was discussed in the House of Commons

De-risking, motivated by short-term risk-reward calculations, should not be allowed to kill off one of the cornerstones of the global financial system. Rather than abandon correspondent banking relationships, banks should be thinking about investing in and automating their risk controls, according to a new whitepaper by PwC.