Commerzbank completes first Marco Polo transaction pilot, covered by specialist press

Commerzbank and Landesbank Baden-Württemberg (LBBW) have recently – for the first time – successfully executed the necessary data transfers to complete two commercial transactions via blockchain-based trade finance network Marco Polo.

“The transaction proves that blockchain technology offers our clients state-of-the-art financing for trade transactions,” says Nikolaus Giesbert, divisional board member for Trade Finance & Cash Management at Commerzbank. “We see a valuable opportunity here to work together to develop and bring to the market innovative trade finance solutions.”

News of the transaction was covered by: Banking Technology, Bitcoin Exchange Guide, BlockTribune, CMTFile, Coin Speaker, Coin Telegraph, CoinDesk, Der Treasurer, Disruption Banking, Financialit, FinExtra, Fintech Finance, FinTech Futures, Global Treasurer, Global Trade Review, Ledger Insight, The Paypers, TokenPost, Trade Finance Global, TRF News, TXF, TXF tracker (behind paywall), & Yahoo

Leveraging technology to bridge the efficiency gap in transaction banking: BNY Mellon writes for Banker Middle East

Technology is evolving at a rapid rate, presenting banks with opportunities to enhance transaction processes and deliver real added-value to clients. In Banker Middle East, Bana Akkad Azhari, Head of Relationship Management CIS & MEA, Treasury Services, BNY Mellon, discusses the fintech appetite in the Middle East, and how collaboration between local banks, global banks and fintechs can provide banks with access to the technology initiatives they need to modernise their services.

To read the full article, please click here

BNY Mellon discusses fintech’s growing role in the Middle East in Gulf Business

Fintech activity in the Middle East is building considerable momentum, with increasing demands from corporate clients and consumers for better transaction services a key factor driving this change. In Gulf Business, Bana Akkad Azhari, Head of Relationship Management CIS & MEA, Treasury Services, BNY Mellon examines how innovative technologies such as robotic process automation, artificial intelligence and blockchain could help to enhance existing processes, and allow banks to meet the ever-real need across the Middle East to deliver quick, efficient and transparent banking solutions.

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BNY Mellon’s Bana Akkad Azhari examines the evolving Middle East fintech landscape in Trade Arabia

 

The fintech landscape in the Middle East is gathering pace: the number of fintech startups in the region is predicted to reach 250 by 2020, and investment in technology-based initiatives and fintech developments is also on the rise. With both the market and client requirements evolving, Bana Akkad Azhari, Head of Relationship Management MEA & CIS, Treasury Services, BNY Mellon, discusses how banks in the region must ensure they are able to adapt to the increasingly digital environment, and are equipped to deliver the technology capabilities needed to enhance trade for clients across the Middle East.

 

To read the full article, please click here

Crown Agents Bank’s David Bee explores how technology can help investors navigate Africa’s currency market

As the appetite for foreign direct investment (FDI) in Africa intensifies, currency illiquidity and volatility stand as potential barriers to growth. In an article for The Global Treasurer, David Bee, Head of Global Markets at Crown Agents Bank, explores how new, innovative technologies – such as EMpowerFX – can begin to offset Africa’s currency concerns.

Please click here to read the full article.

 

RiskFirst quoted in P&I feature examining how evolving technology is key to improving efficiencies in asset servicing

In a special report on AI and technology in operations by P&I, Matthew Seymour, CEO of RiskFirst, describes some of the challenges of technology adoption and standardisation in the asset servicing industry. The report examines how the ongoing development of technologies – such as blockchain and AI – could not only drive efficiencies but also serve as a catalyst, encouraging all market participants to speak the same transactional language.

Seymour noted, however, that “cooperation among major players in the industry isn’t a given”. He said: “The biggest challenge is the vested interest of financial services market participants. Accepting AI will require some to change their businesses. Right now, the collection of data is a real gold mine for some companies. Their concern about maintaining or growing their data businesses, at the same time as AI and blockchain, will make data more accessible to everyone, will make the adoption of new technology more measured while firms assess how this will affect their business models. It’s not just technology adapting to business, but business adapting to technology.”

To read the full article, please click here. (Please note, this article lies behind a paywall).

PwC and RiskFirst renew relationship, covered by specialist press

UK-based consultancy PwC and financial technology provider RiskFirst are reinforcing their relationship with a new agreement, which will benefit clients by bringing online pensions platform Skyval, and RiskFirst’s PFaroe platform closer together.

Skyval was launched jointly by PwC and RiskFirst in 2013 in response to a growing need for more accurate, reliable and up-to-date pension plan information. Under the new agreement, Skyval and PFaroe are being brought onto the same underlying platform, making it easier to exchange information, thereby facilitating closer working relations across all plan stakeholders.

Following Moorgate’s outreach, Wealth Advisor, Financial IT, Fintech Finance, The Business Journal, Digital Journal, and Yahoo Finance covered the news.

BNY Mellon’s Carl Slabicki discusses the growing adoption of real-time payments by banks

Outdated payment systems, regulation, evolving consumer needs and promising fintech initiatives are all driving the demand for enhanced transaction capabilities. As a result, banks are increasingly adopting real-time payments to address evolving needs. In a commentary article for TMI, Carl Slabicki, Director, Immediate Payments, BNY Mellon Treasury Services, discusses how the real-time landscape is gaining traction, the implementation of the real-time payments (RTP) initiative in the US, and how banks and the wider industry can make enhanced, real-time payments a global reality.

To read the full article, please click here.