Latest ABN Amro News: Finextra Research

ABN Amro and Rabobank team for cash processing JV

Dutch banking group ABN Amro is teaming with Rabobank Nederland to establish a 50:50 joint venture firm that will manage both banks' cash processing operations.

30 June 2006

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ABN Amro cuts 1500 back office jobs; offshores 900

ABN Amro is cutting 1500 back office jobs worldwide and transferring 900 roles to low-cost locations, mainly India, under cost cutting measures designed to save the Dutch bank a further EUR150 million a year by 2008.

26 April 2006

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Fidelity in Brazilian card services venture

US-based Fidelity National Information Services has signed a definitive agreement with Brazil's Banco Bradesco and Banco ABN Amro Real to form a joint venture company that will provide outsourced processing services to card issuers across the country.

28 March 2006

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ABN Amro pays high price for compliance failures

ABN Amro has agreed to pay $75 million in fines and its board members to repay EUR1 million in executive bonuses after admitting to serious flaws in compliance controls at its Dubai branch and US dollar clearing centre in New York.

20 December 2005

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ABN Amro switches on new corporate Internet system

ABN Amro has implemented a new global Internet banking system for corporate clients, in an effort to help multinational customers more effectively manage their working capital.

07 October 2005

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Cable & Wireless signs new banks to Real Time Nostro service

ABN Amro, FNB International Banking, Standard Chartered Bank, Svenska Handelsbanken and Westpac have signed up as providers of nostro data to Cable & Wireless' Real Time Nostro (RTN) service, while 10 more banks are in a pilot phase as users.

06 September 2005

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Thirteen banks to pilot SwiftNet Trade Services Utility

Swift has signed thirteen major trade banks to pilot the SwiftNet Trade Services Utility (TSU) from December 2005.

05 September 2005

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Sepa to lop EUR29bn off payments revenue

The introduction of the EU's Single Euro Payments Area (Sepa) could reduce banks' direct payments revenue by as much as EUR29 billion - or 60% - by 2010, according to research compiled by CapGemini and produced in partnership with ABN Amro and The European Financial Management & Marketing Association (EFMA).

05 September 2005

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Dutch banks agree digital billing standard

Holland's top four banks have reached agreement on a standard for exchanging digital bills and invoices via Internet banking with a view to introducing a national scheme in the first half of 2006.

18 July 2005

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