EBA Clearing, operator of the Euro1, Step1 and Step2 payments clearing systems, is calling for participants in the pilot for its MyBank internet payment system. MyBank was launched in June and in its first phase will support Sepa credit transfers and the creation of Sepa direct debit electronic mandates. John Broxis, director, Step2 services at [...]
The heavy regulation of the banking industry has held it back from widespread use of social media, a survey by MHP Communications has found. While technology is a key driver for banks to ensure competitiveness, orchestrating a strategic approach towards social media has been pushed back for a number of years, said the survey. As [...]
Oracle has updated its Basel II application, Oracle Financial Services Basel II, to support the capital adequacy compliance requirements for Islamic banking products based on Shariah law. The Islamic Financial Services Board (IFSB) provides guidance on how to apply Basel II regulations for banks offering Islamic banking products. Using Oracle Financial Services Basel II, Islamic [...]
JP Morgan Treasury Services is to provide a five year, $100 million trade finance loan to Sberbank, the largest bank in Russia and Eastern Europe. The Russian bank will use the loan to facilitate pre-export finance for a client in the oil and gas sector in Russia. Jeremy Shaw, head of JPM’s trade finance business [...]
The launch of Europe’s Target2 Securities platform was put back by a year until 2015 yesterday at Sibos when the European Central Bank’s (ECB’s) T2S programme board, Jean-Michel Godeffroy, admitted that “it was not realistic to stick to the present date” of 2014 and that a delay of “several months but less than a year” [...]
Large trade finance banks could be faced with huge increases in capital requirements if Basel III is implemented in its current form, said Kah Chye Tan, global head of trade and working capital, Barclays Corporate. Tan was speaking during yesterday’s regulation that focused on Basel III and its impact on trade finance and the world [...]
By Jose Gabriel Sevilla Financial institutions’ IT departments are under increasing pressure to deliver new products, more results and in less time. “The world is changing pretty radically,” said SmartStream’s chief executive, Philippe Chambadal, in opening the technology session, Time to Market – Speeding IT change and new product delivery. “The way data is consumed [...]
By Tom Groenfeldt The financial services industry has become too big, Gordon Nixon, chief executive of Royal Bank of Canda (RBC) said yesterday. “When you look at the size of the industry as percentage of GDP or stock market capitalisation, it tripled over a 20 to 30 year period leading into the crisis. A lot [...]
By Jose Gabriel Sevilla Financial institutions’ IT departments are under increasing pressure to deliver new products, more results and in less time. “The world is changing pretty radically,” said SmartStream’s chief executive, Philippe Chambadal, in opening the technology session, Time to Market – Speeding IT change and new product delivery. “The way data is consumed [...]
By Margaret Cappa One of the biggest barriers to the adoption of the single euro payments area (Sepa) has been tackled by Sepa payments solutions developer Sentenial. The company yesterday launched paperless, Sepa compliant electronic mandates. The Sepa e-Mandates solution was a very important development for the industry because it’s one of the key Sepa [...]
