Latest Sibos News: Finextra Research

Staff cuts "inevitable" as Swift contends with declining volumes

Lazaro Campos, Swift chief executive, says that headcount reductions at the banking co-operative will be inevitable as the company contends with declining traffic volumes and bids to improve efficiency levels by 30% and cut 20% from its worldwide operational costs over the next year.

14 September 2009

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Risk and regulation driving IT spending priorities at transaction banks

Risk and regulatory pressures are driving global transaction banks to invest more heavily in technology and IT outsourcing, according to a joint survey by banking co-operative Swift and IBM

14 September 2009

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Bank of East Asia turns to Clear2Pay for Chinese central bank connectivity

Hong Kong-based Bank of East Asia (BEA) has purchased technology from Belgian payment system provider Clear2Pay that will enable it to connect to the People's Bank of China's Electronic Commercial Draft System (ECDS).

14 September 2009

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Palestine modernises interbank payments with Perago

Italy-based payments processor Perago has won the contract to supply the technology infrastructure for the Palestine Monetary Authority's overhaul of its interbank payments.

14 September 2009

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Banco Central De Chile selects Logica for multi-currency payments settlement

The Central Bank of Chile has completed the implementation of Logica's multi-currency, real-time gross settlement (RTGS) system, it was announced at the annual Sibos conference in Hong Kong.

14 September 2009

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Bank of America Merrill Lynch goes with Fundtech to launch online payments hub

Fundtech has signed Bank of America Merrill Lynch as the first customer of its new Global PAYplusServices Platform (Global PAYplus-SP). The platform is based on a service-oriented architecture and will be the foundation for the bank's next-generation online banking channel for treasury management. The new payments system will be available to clients in the second half of 2010.

14 September 2009

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Deutsche Bank marches on China

The Agricultural Bank of China (ABC), China Merchants Bank and China Minsheng Banking Corp. Ltd (CMBC) have each signed seperate payments services agreements with Deutsche Bank.

14 September 2009

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Four in five firms not prepared for Swift MT202 COV - Dow Jones survey

Just 22% of industry executives say they are prepared for the additional workload that will come their way when the new Swift MT202 COV message standard comes into effect in November, according to a survey from Dow Jones Risk & Compliance.

10 September 2009

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Commerzbank selects SunGard Ambit messaging hub

Germany's Commerzbank has selected SunGard's Ambit Messaging Hub to process all of its SwiftNet FileAct and InterAct traffic.

10 September 2009

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Corporates seek big improvements in bank account management services

For the majority of corporates, it takes more than one week to open a new bank account, according to a survey Finextra Research conducted over the summer. For this and other reasons, 44% of corporates say they would switch banks to get better service, standardisation and automation through electronic bank account management (eBAM) processes.

09 September 2009

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European court upholds Clearstream monopoly abuse charge

Europe's second-highest court has upheld a monopoly abuse charge brought by the European Commission against Deutsche Börse's settlement arm Clearstream five years ago.

09 September 2009

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China emerges as a growth market for non-cash payments

China is fast catching up with the US and Europe as a growth market for non-cash transactions, according to the latest edition of the annual World Payments Report from The Royal Bank of Scotland, Capgemini and Efma.

09 September 2009

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