While global trade volumes have been down significantly in 2020, Joon Kim, the Global Head of Trade Finance Product and Portfolio Management at BNY Mellon, sees “a cautious sense of optimism and recovery” by the latter part of the fourth quarter of this year and the beginning of next, at the macro-level.
Arnon Goldstein, Head of Treasury Services for Asia Pacific at BNY Mellon, observed overall decline in payment volumes, underlining weakness in clients’ demand, but an increase in liquidity, especially in local currency and dollar liquidity as lending demand has been depressed. However, any rebound in volume will be uneven as some economies continue to grapple with the COVID-19 pandemic.
The disruption to traditional supply chains and logistics has precipitated the need to strengthen business continuity planning to increase institutions operational resiliency and ability to operate remotely. Processes have to be streamlined and enhanced to incorporate alternative digital solutions, such as e-signature and biometric-enabled authentication and authorisation, to replace traditional manual ones. The bank is pivoting to digital alternatives, such as web-based meeting, and digitising more of its internal as well as clients’ processes in order to facilitate client transactions and increase efficiency.
To watch the interview, please click here.
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.
Commerzbank has published the latest edition of FI.News, the bank’s newsletter for financial institutions. Featuring various in-depth articles and interviews, the biannual newsletter collects Commerzbank’s latest insights on the challenges and opportunities that lie ahead for financial services in today’s transformational times.
Financial institutions are understandably operating in challenging circumstances. Yet this edition of FI.News keeps its gaze firmly ahead – exploring the ways that the current situation could be a catalyst for change in a number of areas, including digitalisation, trade finance, African trade and sustainable finance. The newsletter also provides latest news stories and internal updates from the Commerzbank Institutionals division.
Moorgate has produced FI.News since 2013. The latest edition may be found here.
BPL Global, the leading credit and political risk insurance (CPRI) broker, has recently announced the appointment of Sam Evans as its newest Director. Having joined BPL Global in 2004, Evans has extensive experience of helping European-based corporates, banks and commodity traders effectively use the CPRI product, with a strong focus and extensive experience of the African Market.
In his new role, Sam will continue to manage a London-based team of 6 people, which has traditionally focused on French-speaking banking sector and includes one of the world’s largest commodity traders based in Geneva. The team also counts as a client one of South Africa’s largest financial institutions and he was instrumental in placing their first 15 year interest rate swap in the market.
Commenting on the appointment, BPL Global’s Managing Director, Sian Aspinall, said: “Sam’s extensive market knowledge and calibre as a broker means that he is highly regarded at both BPL Global and by clients alike. We are delighted to welcome Sam to the board in recognition of this, and it evidences our long-standing commitment to promoting talent from within and retaining our independence.”
Following outreach from Moorgate, news of the appointment was published by GTR, TXF and Trade Finance.
In its latest move, Crown Agents Bank has appointed David Bee in the newly created role as Head of Global Markets. David joins from Lloyds Banking Group, where he served as Head of Offshore Financial Markets & Institutional FX Sales. He has previously held senior positions at Citi, Deutsche Bank, and Standard Chartered.
“It’s exciting to be working for a bank with almost two centuries of history, with extensive access and a trust factor in markets that often have few, if any, international bank service providers. The bank is now growing very rapidly with enhanced infrastructure, expertise and relationships, and is continuing to upscale. Most of all, I look forward to working with the team and partnering with colleagues across the bank as we strive to reach our full potential”, said David.
News of the appointment has been covered by Profit & Loss, TXF, Global Banking & Finance Review, FTSE Global Markets and GTR.
When asked about the importance of Lebanon to the bank’s operations, Bana Akkad Azhari, Managing Director, BNY Mellon, tells The Business Year that as its central hub in the Middle East since 1963, Lebanon has provided “a solid financial sector and significant client base” as historically one of the most “open and liberal economies in the region”.
She continues that through its Beirut office, BNY Mellon continues to facilitate access and connectivity between local and international capital markets, acting as a depositary bank for three out of the four programs for Lebanese companies listed abroad.
The full article can be read here.
Michel Jacobs, Head of Global Sales and Head of Digital & Payments at iGTB, has been quoted in in a feature article for the December 2017 issue of Global Finance magazine. The article discusses how AI is making waves in CFO offices, and explores where its promise of efficiency will have the greatest impact.
Jacobs notes, “AI, in and of itself, is not particularly new. As a tool for the banking industry, analytics that provide insight on positive and negative trends have been around for some time. In the past, analytics and AI have been used for applications such as anti-money-laundering.” Jacobs explains, “Now, however, banks are using them to help companies optimise their decisions with predictive capabilities.”
To read the full article, please click here.
The finance industry is undergoing significant change, with technology creating opportunities to transform the payments space. Following a BNY Mellon-hosted roundtable in Frankfurt, TMI writes on how banking experts from Europe’s largest economy are adapting to an increasingly digital landscape, and how collaboration is crucial if banks are to meet the evolving client needs
Conclusions from the roundtable can be read here.
The latest edition of Commerzbank’s newsletter for its financial institutions clients, released in time for Sibos, looks ahead to the future of finance and trade. Explore the Commerzbank 4.0 programme as it builds a future-proof bank. Discover the fruits of collaboration with fintechs. See how Commerzbank is bringing custody and collateral services into the modern age. Learn about advances in the compliance and sustainability fields. Read targeted commentaries on Africa and Asia from the bank’s regional experts, and find out about its longstanding Chinese correspondent partnerships in China.
Moorgate has produced the biannual FI.News since 2013.
The financial landscape continues to evolve at a rapid rate. Following a BNY Mellon-hosted roundtable, FX-MM reports how a number of Polish banks are adapting to increasing regulation, new emerging technologies, as well as a growing number of non-bank actors.
Participants include Monika Aminiova, Cash Management Business Development Manager, Treasury Services EMEA, BNY Mellon, who explains that throughout change, “the value-added proposition for different underlying clients and sectors must be at the centre of strategy.”
The full article can be read here (subscription is required).