The payments revolution: BNY Mellon examines the evolving cross-border transaction landscape in the Journal of Payments Strategy & Systems

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)

 

Technology for now and the future: BNY Mellon discusses the importance of technology investment in bobsguide

Following an interview during Sibos, Paul Camp, CEO of Treasury Services at BNY Mellon features in a bobsguide article examining technology investment. Paul explains that there is a need to invest both in current systems that are used daily by clients, while also looking to the future.

“What we are very cognisant of – and the technology companies don’t always get it – is that our clients need both,” said Camp on the side lines of the conference. “They need the stuff which works today and has worked for years, because that model is not going to switch instantaneously, and they need a path to the future.”

To read the full article, please click here

 

BNY Mellon’s Marcus Sehr talks SWIFT gpi in Global Finance’s Sibos edition

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)

First Asia-Europe Marco Polo transaction pilot completed between Commerzbank and Bangkok Bank

Commerzbank and Bangkok Bank have jointly run an international trade transaction based on Distributed Ledger Technology (DLT), the first Europe-to-Asia trade transaction completed on the Marco Polo network.

The transaction comprised the supply of glass tubes from German specialty glass manufacturer Schott to Thai packaging manufacturer A.P.A. Industries, with the entire flow of information mapped via R3’s Corda DLT platform. All parties involved were able to communicate and view trading data simultaneously via specially set up digital nodes.

Enno-Burghard Weitzel, head of product management trade services at Commerzbank AG, says, “We are happy to be one of the drivers to develop this digital solution for trade finance and to support clients with our expertise.”

Following outreach by Moorgate, the news was covered by: Finextra, Fintech Finance, TRF News (behind paywall), TXF News (behind paywall), IJGlobal (behind paywall), Global Trade ReviewDer Treasurer, The Paypers, Tokenpost, Block Tribune, and Fintech Insight.

BNY Mellon examines Peru’s regtech landscape in Semana Economica

Faced with growing compliance pressures, banks are beginning to take serious note of the digital solutions becoming available to help navigate the heightened regulatory environment. In an article for Semana Economica, Mariel Garcia, Country Executive, Peru, LatAm Treasury Services, BNY Mellon, discusses how regtech has the potential to transform existing processes; the steps that the Latin American financial sector could take to best harness its capabilities; and how Peru can get involved.

To read the article – written in Spanish – please click here (please note, subscription to Semana Economica required)

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.

To read the full article, please click here

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