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Commerzbank publishes second FI.News of the year

Commerzbank has launched the latest edition of FI.News, the bank’s newsletter for financial institutions. This issue of the biannual newsletter evaluates how the banking sector is building resilience in the face of changing circumstances following the outbreak of the COVID-19 pandemic.

Through interviews and deep-dive articles, Commerzbank’s experts share their latest region- and product-related insights into how the current environment may lead to future innovation and opportunity. The edition contains articles on FIs are accelerating their digital programmes, the importance of ISO 20022 migration, as well as updates on how the COVID-19 crisis has shaped the banking sectors in Latin America and Eastern Europe.

Moorgate-Finn has produced FI.News since 2013. The latest edition can be found here.

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Deutsche Bank announces new early warning service for securities settlement delays, covered by the specialist press

Deutsche Bank has announced the release of a new early-warning system for settlement delays and potential failures in securities transactions – helping clients avoid the heavy financial penalties associated with missing the deadlines enforced by the Central Securities Depositories Regulation (CSDR).

Following on from the launch of the bank’s current real-time settlement service in Euronext, Germany and the UK, this new platform is offered in partnership with fintech specialist Elastic, using the same model of predictive analytics behind well-known consumer offerings such as Netflix. This enables it to provide operations staff with a real-time view of the issues that can delay a transaction settlement, a stark contrast to traditional platforms which only provide a retrospective view of what has caused settlement delays.

“Our aim is to deliver a real shift in how markets view exception processing and to bring pre-trade performance to our post-trade operations. We can now detect transactions in real-time that previously would not be flagged as at risk, and divert our attention from the transactions that ostensibly appear to be at risk, but upon historical analysis have always matched in time to settle,” said Christopher Daniels, director, Data Products, Securities Services at Deutsche Bank.

The news was covered by: FStech, Securities Finance Monitor , The Trade, Global Custodian , Fintech Finance, IBS Intelligence , Asset Servicing Times, Securities Lending Times, Fintech Insight, Finextra, Financial IT.

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Pandemic risks eclipse treasury priorities as businesses diversify investments to mitigate impact, EIU and Deutsche Bank survey finds

The Covid-19 pandemic has shunted aside existing challenges to sit atop treasurers’ priority lists, according to “The resilient treasury: Optimising strategy in the face of covid-19”, a survey run by the Economist Intelligence Unit (EIU) and sponsored by Deutsche Bank.

The results show that treasurers are looking to diversify their investments in a bid to mitigate the pandemic impacts, including heightened liquidity, foreign-exchange and interest-rate risk. As many as 55% plan to increase investments in long-term instruments, with 48% increasing investments in bank deposits, another 48% in local investment products, and 47% in money-market funds.

“The Covid-19 pandemic has drastically altered business plans in 2020. It has placed a certain level of strain on treasury processes, but the challenge it presents has been managed by traditional treasury skills. It is clear that pandemic risk will be on the treasury checklist for years to come, but it is one of many risks the department faces and will continue to manage,” says Melanie Noronha, the EIU editor of the report.

The news was covered by: TMI, Treasury Today, CTMfile, Business Money, Trade Finance Global.

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ICC’s Secretary General John Denton discusses the impact of COVID-19 on the tourism sector on Bloomberg Daybreak Europe

Speaking to Bloomberg Radio’s Caroline Hepker and Roger Hearing, John Denton – Secretary General of the International Chamber of Commerce (ICC) – discusses the impact of COVID-19 on the travel and tourism industries, particularly as fears of a second wave of the virus and tighter lockdown restrictions are threatening business continuity.

Denton explains that the travel industry has lost more than 120 million jobs around the world in this current crisis, with women making up more than half of those made unemployed and young people a third. He also elaborates on the need for teamwork among economies and globally consistent safety standards for passengers to revive the industry.

To listen to the full interview, please click here.

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In Bolivia’s El Diario, BNY Mellon’s Tom Meiman and Sam Schwartzman explore the volatile US liquidity landscape and the tools to optimise cash

Following the COVID-19 pandemic, the US liquidity landscape is changing. With low-interest rates already dominating the US because of the 2008 financial crisis, treasurers face greater challenges as they navigate today’s volatile market conditions.

Against this backdrop, Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets explore how cash managers can use investment and deposit accounts to effectively optimise their surplus operating cash.

 Click here to read Part One and Part Two (the articles have been published in Spanish).

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BNY Mellon’s Carl Slabicki speaks to Payments Journal on the evolution of payments in the US

As new real-time payment options emerge and legacy systems are modernised, the payments industry is experiencing a shift from paper to digital processes. This trend is being reinforced by the current challenging environment, which is forcing businesses to rely on the digital environment more than ever.

Against this backdrop, in an article for Payments Journal, Carl Slabicki, Head of Strategic Payment Solutions at BNY Mellon explains that it is critical that banks keep pace with the rate of change – supporting clients as they undertake their own digital journeys.

Read the full article here

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Loss given default in a downturn: How can we learn from historical data, asks GCD’s Richard Crecel in International Banker article

Writing for International Banker, Richard Crecel, Executive Director at Global Credit Data, explains that while there are many uncertainties about the duration and impact of the pandemic, observers remain cautious in their recovery estimates. Taking into consideration the current macroeconomic forecasts, it is likely we are heading towards a downturn period.

In turn, banks worldwide posted record-high provisions to prepare for significant rises in the number of nonperforming loans in their portfolios, likely resulting in higher credit losses. They will also need to accommodate for this downturn in their risk models, factoring in the influence on default rates and loss given default (LGD) levels.

To read the full article, please click here. The article is also available in the Summer 2020 print edition of International Banker.

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BNY Mellon becomes the first US bank to offer the SWIFT gpi Case Resolution Service

BNY Mellon has collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. This offering marks another milestone in BNY Mellon’s commitment towards client-centric payment services and leading the path for other global payments innovation (gpi) initiatives.

“BNY Mellon is leading the way in automating payment processes, reducing the costs and time associated with managing payment inquiries,” said Michael Bellacosa, Global Head of Payments and Transaction Services, BNY Mellon. “This solution will vastly improve the time to resolve an inquiry, ensuring invoices are paid on time, reducing fraud, and better meeting client expectations.  Ultimately, creating straight-through processing for inquiries has been long overdue and will eventually become the global standard.”

Following outreach, the news was covered by FinExtra, FinTech Insights, Banking New York, Banking CIO Outlook, Supply & Demand Chain Executive, Money Transmitter Law, CTM File, IBS Intelligence, Financial IT, The Paypers, Documentary Credit World.