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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.
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.
All banks want to take their products and services into the digital age. But Edith Weymayr, Commerzbank’s Divisional Board Member, Mittelstandsbank South, explains that true innovation means going further than developing flashy smartphone apps. In an article for World Finance magazine, she argues that “driving change requires taking a holistic, end-to-end strategy that can set new trends and, through collaboration, weather digital disruption” – taking inspiration from the bank’s ongoing transformation programme, “Commerzbank 4.0”.
Find the article on pages 72-73 of the latest edition.
Global fintech investment is soaring, nearly doubling to US$23.3 billion in 2016, from US$12 billion in 2014. Yet, the Middle East currently lays claim to just 0.1 per cent of this. Nevertheless, fuelled by the growing influence of a millennial population and rising expectations for efficiency, transparency and accessibility, fintech initiatives are rapidly gaining purchase in the Middle East.
In Banker Middle East, Bana Akkad Azhari, Head of Sales & Relationship Management MENA and the CIS, Treasury Services EMEA, BNY Mellon, considers the transformative potential of fintech in the region. Moreover, Bana explores how banks are championing the importance of both innovation and collaboration, and opines that this is crucial if opportunities offered by fintech are to be fully realised.
To read the full article, please click here.
Technology is fuelling unprecedented levels of change in the payments industry. Banks are required to navigate expanding digital capabilities, evolving client and regulatory demands and, due to the growing influence of fintech companies, an increasingly competitive market. In respect to this, banks – and the industry as a whole – are increasingly recognising that it is only by working together that transformation of real significance and value can take place.
In FX-MM, Daniel Verbruggen, Head of Relationship Management Europe, Treasury Services, BNY Mellon, discusses how – with fintech innovation fuelling expectations for more sophisticated, on-demand capabilities – a coordinated approach is key to delivering enhanced, value-added client solutions.
To read the full article in FX-MM’s Digital April edition, please click here.
Distributed ledger technology and blockchain have dominated recent industry headlines, generating powerful discussion and fuelling innovation across the financial sector. BNY Mellon gathered together a group of experts in Manchester to discuss the practicalities of delivering distributed ledger solutions, the progress being made, and how the emergence of fintech start-ups has triggered not only unprecedented levels of bank innovation, but a collaborative approach that is helping to drive real transformation in payments and trade.
At the table were Chris Allchin, a partner at leading global management consulting firm Oliver Wyman, Brian Mc Nultiy, COO Europe for financial innovation company R3, and James Higgins, Global Product Manager for BNY Mellon in Manchester.
Digitalisation of the payments landscape is increasing at such a pace that some argue a “cashless society” is on the horizon. Ingrid Weisskopf, Head of Cash Products and Advisory FI at Commerzbank, explains to bobsguide – a leading financial technology magazine – that it is companies who are demanding, and therefore stimulating, greater digitalisation efforts from banks.
In the article, “How close are we to a cashless society?”, Weisskopf explains: “Companies need to be able to depend on rapid payments. In the past, a company may have accepted waiting one or two days for a payment to clear. But now, working in this environment of rapid communication and digitalisation, speed is of the essence. They seek greater flexibility, efficiency, and ease of access in their banking experience.”
Read the article here.
Fintech innovation is transforming the payments landscape, and as technology continues to evolve, the need to enhance the cross-border payment experience is becoming ever more evident. Indeed, the existing infrastructures in place are far from optimal. Typically taking three-to-five days to settle, cross- border payments are falling short of modern-day expectations.
Writing for FX-MM, BNY Mellon’s Bana Akkad Azhari discusses how banks are collaborating to transform the cross-border payment industry. She writes, “Without doubt, the industry is united in digitising payments, coming together collectively to overcome barriers and leverage technology to bring cross-border payments in line with the evolving needs of clients.”
To read the full article, please click here. Please note that part of this article is behind a paywall.
Fintech is triggering a monumental shift in the payments space, bringing new capabilities that are enhancing the transaction experience and fuelling client expectations for better, faster and more innovative solutions. Yet, while fintech start-ups have been able to make a mark in the retail business, successfully launching innovative solutions on the corporate side – where transactions are generally far more complex and necessitate higher levels of regulation and security – is a completely different situation.
In America Economia, Diego Ortellado, BNY Mellon Treasury Services’ Head of Sales and Relationship Management for South America, writes how, Latin American banks can play a key role in driving technological change in corporate payments by collaborating with fintech companies – helping to ensure not only that they remain at the hub of the payments business but also that they are able to profit from the rich rewards offered by digitalization.
To read the full article, please click here. Please note this article is in Spanish.