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News/Transaction banking
The final day of SOFE 2017 was dominated by the topic of cyber security. The closing plenary covered three key elements to this challenge: the evolution of the threat landscape, new technology and the evolution of Swift's Customer Security Programme (CSP), and the regulatory perspective.
04 December 2017
The future of money, how we use data and the dizzying advances in digital technologies dominated the opening discussions at the annual Swift Operations Forum Europe (SOFE) convention in Amsterdam.
30 November 2017
Cyber-crooks have significantly upped their game in the last 18 months, developing sophisticated new tools and techniques to hack into bank systems, warns a new report from Swift.
29 November 2017
Credit Suisse has acquired a majority stake in alternative finance startup Tradeplus24 and plans to offer the Zurich-based firm's lending platform to its own SME customers.
BBVA has applied blockchain technology from Wave to reduce the time taken to submit, verify and authorise an international trade transaction from seven to ten days, to just 2.5 hours
27 November 2017
Standard Chartered, Axis Bank and Rakbank have begun to use RippleNet to send live cross-border payments on behalf of corporate clients and migrant workers.
22 November 2017
Allied Irish Bank has invested EUR30 million in local B2B payments platform TransferMate, valuing the company at up to Eur300 million.
20 November 2017
Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.
17 November 2017
The ongoing uncertainty around freedom of movement post-Brexit is affecting the recruitment of technology talent and causing concern among UK tech entrepreneurs about a possible skills shortage.
16 November 2017
Bank's IT departments are unable to pursue innovation with the latest digital technologies because they have lost influence in the boardroom with senior managers that do not properly understand new technology.
Singapore has stepped up its fintech ambitions with the offer of a S$27m ($19.91m) grant to promote the further use of artificial intelligence and data analytics in the financial services market.
15 November 2017
The two founders of start-up foreign exchange service TransferWise are reported to be preparing a sale of some of their shares in a further round of fundraising that could see the company's valuation exceed £1.2 billion, consolidating its unicorn status.
31 October 2017
Blockchain consortium R3 and 22 of its member banks have collaborated on the development of a cross-border payments platform built using distributed ledger technology (DLT).
Japan's megabanks are planning to make huge, long-term cuts to their workforces as they increasingly turn to artificial intelligence (AI) and automation in a bid to streamline operations and cut costs.
Swiss bank UBS has said that a migration of more than 1,000 jobs from London as a result of Brexit is "more and more unlikely" after receiving "regulatory and political clarifications".
27 October 2017
Hong Kong and Singapore have dumped decades-old rivalry for trade flows in South East Asia and signed a fintech co-operation deal to foster the development of innovative financial technology across the region, beginning with a cross-border linkage of DLT-based trade finance platforms.
25 October 2017
BNP Paribas is swallowing its own blockchain medicine, applying the technology to the global internal treasury operations of the bank.
17 October 2017
Eight of Europe's largest banks have agreed to set up a joint venture company incorporated in Ireland to manage the roll out of Digital Trade Chain, a shared platform that aims at making domestic and cross-border commerce easier for European companies by harnessing the power of distributed ledger technology.
In recognition of two of the central threats facing his organisation - hackers and upstart rivals - Swift CEO Gottfried Leibbrandt used his opening remarks at this year's Sibos in Toronto to talk up his gpi and cybersecurity programmes.
16 October 2017
JPMorgan is to pilot the application of cross-border interbank payments over its enterprise-ready distributed ledger and smart contract platform Quorum.
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