The payments landscape is evolving at a phenomenal rate. New technology developments are emerging faster than ever, driven by the growing culture for digital solutions, new regulatory requirements, and the increasing number of new entrants in the market that are challenging more traditional practices with cutting-edge concepts that appeal to the tech-savvy society of today. This convergence of factors is acting as a catalyst for banks to take action and modernise payments.
In the Journal of Payments Strategy & Systems, Michael Bellacosa, Global Head of Payments and Transaction Services, BNY Mellon Treasury Services, discusses the transformational power of SWIFT gpi. Importantly, the article also examines how banks need to maximise the possibilities of the new landscape and deliver real added value; looking beyond the payment itself and considering how they can harness toolkits such as SWIFT gpi to create solutions that best support their clients.
To read the full article, please click here (please note, the article lies behind a paywall)
The influx of fintechs into the payments space has kickstarted an unprecedented period of innovation in transaction banking. Faced with new, tech-savvy competition, evolving client expectations, and with their own legacy infrastructure far from optimal, there is an increasing urgency for banks to deliver an enhanced, digital experience to clients. In Global Finance, Marcus Sehr, Head of BNY Mellon Treasury Services – Europe, discusses how banks are rising to this challenge, and transforming the way in which payments are processed.
To read the full article, see the “Sibos Supersection” of the magazine or click here (please note, the article lies behind a paywall)
Green bonds have proliferated since the first green debt instrument was introduced in 2007, with banks and corporate bond issuers leading the pack. However, project bond and emerging market issuers have been more hesitant.
Speaking on TXF Proximo’s podcast, “Transmissions”, Michael Wilkins, Global Head of Analytics and Research, Sustainable Finance, S&P Global Ratings, argues that this may not be the case for much longer.
“Because there is interest among investors to benchmark according to environmental contribution as well as credit quality, there may be opportunity for green project bonds in emerging markets to grow,” said Wilkins.
Meanwhile, he believes that green project bonds may well see a surge in market interest if the high level of environmental contribution that S&P Global Ratings generally sees from the asset class is made explicit in offering circulars.
According to S&P Global Ratings, the development of the EU’s proposed green finance taxonomy is one of the most important developments in the world of sustainable finance in recent years.
However, as with any major change, questions surrounding the implications for the capital markets abound. In an article for Responsible Investor, Michael Wilkins, Global Head of Analytics and Research, Sustainable Finance, S&P Global Ratings, considers the “pain points” that the taxonomy will have to overcome if it is to be successfully implemented and effectively drive capital towards sustainable objectives.
Namely, according to Wilkins, defining what can and cannot be defined as a sustainable economic activity should be the main focus of the taxonomy’s development, if it hopes to effectively engage the broader market.
Following the recent launch of its global survey, Overcoming the Trade Finance Gap: Root Causes and Remedies, BNY Mellon, in partnership with GTR, invited industry experts to take part in a virtual roundtable to examine and build upon the findings. The participants were Joon Kim – Global Head of Trade Finance Product and Portfolio Management, BNY Mellon Treasury Services; Maurice Iskandar – Assistant General Manager, Head of International Division, Banque Libano-Française; Olivier Paul – Head of Policy, ICC Banking Commission; Fernando Pierri – Global Head of Trade Services, Banco Santander Brasil; and Michael Lim – Head of Financial Institutions, Transaction Banking, ANZ.
Southeast Asia is not only thriving as a manufacturing centre, it is likely to benefit hugely from China-U.S. trade tensions. In an article forAsia Outlook, Arnon Goldstein, Regional Head of Relationship Management APAC, and Joon Kim, Global Head of Trade Finance Product and Portfolio Management, BNY Mellon Treasury Services discuss how its banking sector will need to keep pace – and may need external help to leverage the potential opportunities.
In an article for GTR, Joon Kim, Global Head of Trade Finance Product and Portfolio Management at BNY Mellon Treasury Services, provides an outline of the results of the bank’s recent global survey on the trade finance gap – including what participants believe to be the most effective ways of narrowing the gap.
As the green finance market continues to expand, new sectors such as telecommunications have started to issue green bonds and capitalise on investor demand for sustainable financial instruments, according to a recent report by S&P Global Ratings.
Labeled green bond offerings to date include three significant issuances by telecom giants Telefonica, Verizon, and Vodafone. But some investors have expressed concern that green bonds issued by telecom companies fund projects that could be described as “business as usual” and that lack environmental “additionality”.
In the report, S&P attempts to gauge the environmental contribution of the bonds issued in the sector thus far, issuing these bonds a score based on public information using its Green Evaluation analytical approach.
Earlier this year, Italy announced its plans to significantly increase renewables capacity by 2030. But what are the factors driving and impeding progress? S&P Global Ratings’ Stefania Belisario and Massimo Schiavo consider the answers for Renewable Energy World.
Italy boasts a track record of meeting renewables targets – but under different circumstances. As such, meeting the 2030 targets, though possible, is not without hurdles. Upcoming renewables auctions through 2021 are estimated at 7GW, meaning Italy may require levers beyond those scheduled to achieve their lofty ambitions.