Trade makes the world go round – find out how Commerzbank helps in its new video

Commerzbank’s new video explains the significance of world trade and the important role the bank plays. Frank-Oliver Wolf, Head of CTS Sales Germany, outlines the bank’s global presence, and Enno-Burghard Weitzel, Head of CTS & FI Product Management Trade Services, shows how it is ushering in the new technologies that are revolutionising trade finance.

Watch the video in English or German.

The video was produced and edited by Chuffed Productions.

UniCredit’s Adeline de Metz and Raphael Barisaac on how transaction bank adaptations will benefit corporates in Global Banking and Finance Review

With the global trade environment changing, transaction banks are responding by driving internal efficiencies, expanding their digital offerings, and reconfiguring their client service models. Raphael Barisaac and Adeline de Metz, Global Co-Heads of Trade Finance at UniCredit write in in Global Banking & Finance Review that amidst all this change, the outlook for corporates is promising – increasingly digital and client-centric solutions, combined with fairer and more competitive pricing.

Go here to read the full article online, and here to read the online viewer of the print version (page 22).

BNY Mellon’s Bana Akkad Azhari talks to The Business Year on the importance of the bank’s operations in Lebanon

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.

BNY Mellon named ‘Best Transactional Bank for Financial Institutions in EMEA’ by EMEA Finance

As part of their 2017 Treasury Services Awards, EMEA Finance has named BNY Mellon ‘Best Transactional Bank for Financial Institutions in EMEA’.

The publication elaborated that as the marketplace rapidly evolves, BNY Mellon’s business proposition is one of partnership with best in class services on offer to financial institutions looking to differentiate themselves, and offer premium services.

Bana Akkad Azhari, head of relationship management CIS and MEA, treasury services explains that, “BNY Mellon’s unwavering strength in the transaction banking industry is built upon our exceptional client service, global reach and dedication to enhancing the client experience.”

The full article can be read here (subscription is required).

BNY Mellon’s Daniel Verbruggen joins the debate on the future of transaction banking in FX-MM

From managing the demands of regulatory compliance, to navigating the opportunities and threats presented by financial technology, it takes a lot to thrive in the fast-changing transaction banking sector.

FX-MM asks BNY Mellon’s Daniel Verbruggen, Head of Relationship Management Europe, Treasury Services, his thoughts on how blockchain and real-time payments hold the potential to forever alter the transaction banking landscape.

Verbruggen explains that “the digital revolution is well underway, and banks need to be at the forefront of innovation if they are to meet the evolving needs of the market and their clients. There are two fundamental elements that banks need to focus on when it comes to investment in new technologies: flexibility and client-centricity.”

The full article can be read here (subscription is required).

Digitalisation a “sleeping giant”: Commerzbank’s Angela Koll cited on the future of trade finance in TMI Magazine

Where’s next for the digitalisation of trade finance? Angela Koll, Commerzbank’s Specialist Trade & Supply Chain Finance, shares her thoughts in the latest edition of TMI Magazine, but warns that innovation in the industry could take time to spread.

Find out more in “Waking the Sleeping Giant? The Potential for Trade Finance Transformation“.

iGTB’s Herber de Ruijter discusses how banks can make the most of APIs

herberBanks should take the initiative with APIs, says iGTB’s Head of Digital, Herber de Ruijter, in the first of a series of blogs by iGTB in the lead-up to Sibos 2017.

New legislation requiring banks to share data with third-party providers through APIs comes into force in 2018, but it should be seen as an opportunity rather than a compliance burden. These data-sharing interfaces can transform bank-client relations, and banks that take this potential seriously will have a serious competitive edge over their peers.

From enhancing product offerings and cutting costs, to creating new revenue streams, the catalogue of benefits is extensive. Yet banks must also be aware of the possible pitfalls along the way – including the loss of human interaction and the risk of third-party products supplanting existing bank services.

When well- conceived and well designed, however, APIs can unlock huge benefits – revitalising the banking industry and it customer services.

To read the full piece, please click here.

Deutsche Bank’s Christian Schaefer assesses PSD2’s potential to enhance the European payments market in PaymentEye

The second “European Directive on Payment Services in the Internal Market”, commonly referred to as PSD2, has sparked discussion around its potential to further develop the European payments market. Speaking to PaymentEye, Christian Schaefer, Head of Payments, Cash Management Corporates, details how PSD2 will deliver these opportunities from its effective date in January 2018.

Along with extending the scope of services over which it will regulate, PSD2 will also strengthen customer authentication protocols. But arguably of most interest is the fact that PSD2 will permit select third party providers (TPPs) to deliver specific kinds of payment-related services. For Schaefer, this notable development recognizes “the importance of third-party providers to the payments landscape – creating a regulatory framework that enables secure collaboration between all players, and encourages innovation”.

As a result, it is believed that PSD2 marks a crucial step towards a more integrated payments industry that better leverages opportunities to innovate. Schaefer says: “PSD2 will encourage collaboration between the varied players across the financial landscape by recognising and regulating third-party providers – creating a secure and transparent environment for the creation of disruptive payments technology.”

To read the full article, please click here.



In a feature for Bobsguide, Deutsche Bank’s Christian Schaefer says banks must seize PSD2’s opportunities for innovation


From January 2018, the “European Directive on Payment Services in the Internal Market”, commonly known as PSD2, comes into force with the aim of ensuring that the European payments market remains transparent and secure. In a feature for Bobsguide, Deutsche Bank’s Head of Payments, Cash Management Corporates, Christian Schaefer, joins other experts to explain how PSD2 represents a landmark industry development.

PSD2 builds upon its preceding framework to reflect the ways the payments environment has evolved during the past decade. Among the developments are the extension of its regulatory scope and the strengthening of customer authentication protocols. But, most notably, the update will foster industry competition by opening up the payment market to Third Party Providers (TPPs) – thereby creating a more efficient, innovative and secure payments ecosystem.

With this in mind, Schaefer believes PSD2 could be considered more than a regulatory update and may also represent an industry-wide opportunity to disrupt the European payments infrastructure. When discussing the risks of treating PSD2 solely as a compliance exercise, Schaefer says: “PSD2 will likely be a catalyst to innovation in the European Payment market and lead to further progress; banks across Europe can choose to either be at the forefront of that progress, or, perhaps, left behind by it.”

To read the full article, please click here.

Commerzbank releases the first 2017 issue of FI.News

The biannual financial institutions newsletter brings together Commerzbank’s experts to offer their views on the topics trending in trade finance.

This issue deals with the ups and downs of international trade. Bernd Laber, Commerzbank’s Divisional Board Member for Trade Finance & Cash Management, asks how a bank committed to facilitating global commerce might address current geopolitical and macroeconomic challenges. Ruediger Geis, Head Product Management Trade, discusses the threat of protectionism and the need for financial inclusion.

The latest edition also keeps a close eye on the future. Angela Koll, Specialist Trade & Supply Chain Finance, looks ahead to the digitalisation of the trade industry – noting that, while there remains considerable potential to transform the sector, significant technological, legal and regulatory barriers must still be overcome. Ronny Wolf, Commerzbank’s Cybercrime Specialist, explains how banks might continue to make the cyberspace secure both for themselves and their corporate clients.

As usual, FI.News also offers an overview of key economic and trading developments across the world. Hans Krohn, Regional Head Russia, CIS & Mongolia, outlines the trials facing Russia’s economy. Agnes Vargas, Regional Head Greater China and ASEAN, delves into developments in East Asia.

Meanwhile, Commerzbank’s history of strong partnership with the European Bank for Reconstruction and Development (EBRD) – vital to facilitating the commerce on which emerging economies rely – is under the spotlight, as is an article published by the United Nations on the bank’s pioneering work in the field of sustainable trade.

Read these topics and all Commerzbank’s latest financial institutions news and awards in e-book or PDF format.

Moorgate has produced FI.News since 2013.