correspondent bankingRSS

Correspondent banking: it takes two to tango

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The global correspondent banking network is under pressure in several countries as some financial institutions close relationships. While financial inclusion continues to climb the agenda of regulatory authorities and financial institutions pledge their support, the de-risking taking place in correspondent banking threatens to scupper inclusion.

Daily News at Sibos 2017 – Day 4

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Read our fourth and final Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!

JP Morgan’s Quorum blockchain powers new correspondent banking network

JP Morgan

JP Morgan, and Royal Bank of Canada (RBC) and Australia and New Zealand Banking Group (ANZ), have launched the Interbank Information Network (IIN) – using blockchain for the payments process. According to JP Morgan, processing global payments is very complex. Multiple layers of communication occur amongst payment participants to verify and process transactions. By using […]

Low cost correspondent Swift access

New addition to Swift's network

Swift has launched Correspondent Banking Suite, a solution targeting small to medium sized correspondent banks that are seeking cost-effective access to the Swift network.

Payments: where have all the correspondents gone?

Chain

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.

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