Commerzbank has won the magazine’s award for the third year running.
Klaus Josef Mueller, Head of Product Management Trade Finance & Cash Management, comments: “It’s a real honour to be included, yet again, among such a prestigious list of winners, and even more so in the home market. This award reflects our dedication to helping our growing corporate customers in Germany reach their operational potential. Making good on this commitment requires us to be at the cutting edge of treasury and cash management. Clients now expect high-end products and services from their banks to be cloud-based, driven by apps, and digitally secure – and here, we’re the ones raising the bar.”
Sibos 2017 came and went in a flash. But what were the key messages from the event?
Writing in TMI, Raphael Barisaac, UniCredit’s Global Co-Head of Trade Finance, and Cédric Derras, UniCredit’s Global Head of Cash Management, reflected on the event: “After years of preoccupation with regulation and compliance, the industry is once again gearing up for growth. A number of new services will soon hit the market, and bank-fintech collaboration is the hot topic when it comes to meeting the most challenging client needs”.
They added; “now that Sibos 2017 is over – and ended on a decidedly positive note – we look ahead with optimism to the coming year. Banks are gunning for growth once again and bringing a spate of innovations to the market. This time next year, in Sydney, we may just be saying that clients have never have had it so good.”
To read the full article, please click here.
SWIFT’s global payments innovation (SWIFT gpi) – an industry-wide initiative that connects every party in payment chain via a cloud solution – is tipped to become the new payment standard for correspondent banking. Before it can, however, a critical mass of banks must go live with the initiative’s operational mode.
Writing for FX-MM, Paul Roels, Head of Market Infrastructure & Industry Initiatives, Cash Management, sets out the case for SWIF T gpi’s adoption and offers practical guidance for those banks yet to embark on an implementation strategy.
Roels writes: “For the banking community to benefit fully from SWIFT gpi’s zero-sum gains, as many institutions as possible should accelerate towards live operational mode. Once this happens, we hope that the transformative capabilities of the payment standard should become increasingly apparent.”
Read the full article here.
By January 13th 2018, EU member states are obliged to transpose the new EU Payment Services Directive (PSD2) into national law.
With the deadline fast approaching, organisations in the regulation’s scope must ensure they are prepared. As Sharokh Moinian, Deutsche Bank’s Global Head of Cash Products, Cash Management, puts it; “organisations affected – particularly financial institutions – must ensure they have a clear project strategy in place, a strategy underpinned by an in-depth understanding of the required legal and regulatory changes.”
To assist organisations in this last crucial implementation phase, Deutsche Bank has released its new paper, entitled: “Are you PSD2-Ready – A guide to the latest information and sources of support”. Produced in collaboration with PPI AG, this document not only covers the latest developments and most critical intricacies of the regulation, but also highlights the important next steps which market participants must now take.
To read more, please click here
Managing excess liquidity has never been more challenging for the corporate treasurer. Low – even negative – interest rates mean treasurers can no longer rely on leaving their excess cash in overnight deposits.
In addition, new financial regulations such as Basel III have only further complicated the question of what to do with excess liquidity: encouraging banks to welcome operating cash deposits over non-operating cash deposits.
So how can treasurers make the most of their cash? Writing in Treasury and Risk, Deutsche Bank’s Seth Brener, Head of Corporate Cash Management Sales, Americas, emphasises the need for treasurers to revise their liquidity management strategies in accordance with this new environment. “Rather than rely on old certainties, they need to seek out individualised solutions – they need to exploit their particular regulatory, macroeconomic market and investment product mix”.
To read the full article, please click here
BNY Mellon’s Treasury Services business has realigned its leadership team in Europe, the Middle East and Africa to focus on its different market segments across the region.
Daniel Verbruggen and Bana Akkad Azhari have both been promoted to the business leadership team. Verbruggen will continue to be responsible for relationship management in Europe, and Akkad Azhari for the Middle East, Africa and the Commonwealth of Independent States.
Commenting on the new roles, global head of relationship management and business development for treasury services at BNY Mellon, Alan Verschoyle-King said, “The realignment will ensure that we can bring specialisation to two distinct market segments, with Verbruggen focusing mainly on liquidity and cash management solutions for clients and Azhari on more traditional cash management and trade solutions.”
Following Moorgate’s outreach, the news was covered by: GTR, TMI, TFR, FX-MM, Treasury Today, TXF, bobsguide, Global Banking & Finance Review
Commerzbank has been recognised as the “Best trade finance provider in Germany” and – for the second year running – “Best global bank for export finance” in Global Finance magazine’s list of the “World’s Best Trade Finance Providers 2017”.
The bank has also taken the titles of “Best Overall Bank for Cash Management in Central & Eastern Europe” and “Best Treasury & Cash Management Provider in Germany” in the magazine’s rundown of the “World’s Best Treasury & Cash Management Banks and Providers 2017”.
Global Finance’s annual awards identify those banks surpassing the expectations of their customers worldwide.
Commerzbank has emerged as a “Five Star Cash Manager for Western Europe 2017” in Euromoney’s Cash Management Survey – which takes into account the opinions of more than 30,000 non-financial corporations.
Delving deep into the poll’s results, the article “When quality not quantity counts in cash management” identifies those banks whose people, services and products are the cream of the crop when it comes to commitment to clients, quality and innovation.
Marc Kirchhoff, Commerzbank’s global head, transaction services international, offers his thoughts to the magazine: “Commerzbank’s dedicated relationship managers are key to our success. They are our corporate customers’ first port of call, providing crucial financial advice and information about the cash management products and services most suited to their needs. They also provide the vital link to the on-the-ground expertise and insights into risk customers expect when expanding their business to unfamiliar markets.”
He adds that, for Commerzbank, customer feedback is key: “From our client relationships, we look to gain a long-lasting and close partnership. The discussions we have with them are valuable in helping us to identify current cash management topics and where we need to improve ourselves in the future.”
The article can be read here (with a subscription).
Andrew Reid explains in The Paypers that collaboration is needed for banks to achieve the same level of transformation and convenience in the B2B space that they have already delivered in the retail banking space.
In an interview previously published in the B2B Fintech: Payments, Supply Chain Finance & E-invoicing Guide 2016, Reid says that banks and corporates need to invest in real-time payments. These will benefit corporates who wish to execute time-sensitive transactions – such as High-Value, critical vendor or M&A-related payments – while receiving close-to-immediate proof of execution.
“For large banks, involvement in establishing such future payment/collection platforms is a “revenue loss avoidance” tactic rather than a “profit creation” one, as they will otherwise lose market share to disruptors,” says Reid. This is why Deutsche Bank and others are helping to develop a Pan-European Instant Payment Solution.
Reid goes on to talk about the benefits ̶ but also the challenges ̶ of implementing pay-on-behalf-of/collect-on-behalf-of (POBO/COBO) structures. These can help corporates consolidate cash flows and rationalise account structures, as well as increase their purchasing power when negotiating cash management terms with banks.
You can read the full interview here.
Deutsche Bank has been recognised with two accolades in Acquisition International’s (AI’s) 2016 Finance Awards programme: Best Commercial Banking Specialist 2016 for Asia Pacific for the Bank’s work supporting corporates in Asia Pacific, and with the Award for Excellence in Risk Management, Singapore.
Winning not one, but two of AI’s prestigious and pioneering awards is testimony to the Bank’s hard work, its focus on offering innovative solutions, and its commitment to client service. The Bank says it is looking forward to building on its success in the coming months and years.
Deutsche Bank’s Global Transaction Banking (GTB) business, which covers cash management, trade finance and securities services, empowers corporates and financial institutions worldwide to grow sustainably and achieve their commercial objectives. It is its stated goal to expand its GTB business in APAC, supporting this market in its extraordinary growth story.
These awards can also be seen in the context of Deutsche Bank’s “Strategy 2020”, published in 2015, outlining its vision to make itself more efficient, reduce risk, strengthen its capital position and be better run, with more disciplined execution.
You can read the full award write-up here.