As part of the “Finextra at Sibos” video highlights series, Saket Sharma, Chief Information Officer, BNY Mellon Treasury Services, was interviewed at Sibos for the video focusing on leveraging data.
He says: “In order to really harness the power of data and derive meaningful insights, a data strategy needs to be in place.
To view the full “vox pop style” video (with Saket’s commentary at 2 minutes in), please click here.
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)
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 has won three awards in EMEA Finance magazine’s 2019 Treasury Services Awards, including retaining its title of “Best Transactional Bank for Financial Institutions in EMEA” for an astonishing tenth consecutive year. BNY Mellon was also named “Best Transactional Bank for Financial Institutions in the Middle East” and the provider of the “Best FX Services in EMEA” for its market-leading FX solution, SmartPaySM Global.
The awards were presented to BNY Mellon Treasury Services’s Bana Akkad Azhari, Head of Relationship Management MEA and CIS; Marcus Sehr, Head of Europe; and Ross Jones, Head of FX and Multicurrency Payment Product, at Sibos.
To read the full awards write-up in EMEA Finance, please click here (please note, the article lies behind a paywall)
This is an extraordinary moment in the history of one of the Middle East’s largest economies. The changes underway in Saudi society are both palpable and visible. And the changes underway within the Kingdom’s banking and financial system are equally remarkable, if less visible. As with other countries, digitisation is causing banks to fundamentally rethink their role, while new players are providing innovative services to both consumers and businesses alike. Here, a roundtable co-hosted by BNY Mellon, the Saudi Investment Bank (SAIB) and EMEA Finance brings together industry leaders to share their views and expertise on how banks in the Kingdom are adapting to the evolving landscape and capitalising on new opportunities.
To read the full write-up, see the Sibos edition or 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)
With the market for payables finance – and the understanding of it – evolving all the time, Deutsche Bank has released a revised and updated guide that seeks not only to factor in the latest developments, but also to re-evaluate the key questions that define the industry. What is payables finance and where does it fit into the wider universe of supply chain finance techniques? What is driving demand for these solutions? How do the physical and financial supply chains interact? And how do you go about setting up a successful programme?
“Payables Finance A guide to working capital optimisation” can be read here.
The news was covered by: Business Money, Trade Finance Global International Trade Magazine, TRF news, TXF, The global treasurer
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 Review, Der Treasurer, The Paypers, Tokenpost, Block Tribune, and Fintech Insight.
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
With technology developments occurring at a rapid rate, Christopher Mager, Head of Global Innovation, Digital Platform Office, BNY Mellon Treasury Services, discusses some of the key innovations that are impacting transaction banking, and how knowledge is king when it comes to harnessing new capabilities.
To read the full article, please click here