Latest Transaction banking News: Finextra Research

Company update/payments

Treasury Intelligence Solutions raises $20 million

TIS (Treasury Intelligence Solutions), a leading cloud platform for managing corporate payments and cash flows, today announced it has raised $20 million in additional financing led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners.

28 May 2020

Company update/wholesale

IntellectEU to act as communications layer for Contour blockchain network

Contour, the Singapore-based open trade finance network, has today announced its partnership with IntellectEU as part of a shared vision to digitise trade finance on a global scale.

28 May 2020

Company update/wholesale

More Italian banks join Spunta DLT platform

Since May, a total of 55 banks have been operating on Spunta, the Italian banking sector blockchain. The latest addition of 23 banks have entered into operation, on top of the initial 32 operational since March.

26 May 2020

News/regulation

VÖB, Bundesbank: T2-T2S consolidation delay ‘is likely’

A confidential letter obtained by Finextra Research shows unanimous support for the postponement of the T2-T2S consolidation project by leading banks during the latest Advisory Group on Market Infrastructures for Payments (AMI Pay) meeting where the delay was discussed.

22 May 2020

Company update/wholesale

Cargill Australia uses Bolero Galileo to speed up China canola oil transaction

Cargill Australia, a major provider of grain, oilseeds and other agricultural commodities, used the advanced functionality and speed of the new Bolero International Galileo trade finance platform to accelerate a canola oil shipment to China, meeting a tight deadline despite the current coronavirus difficulties.

22 May 2020

Company update/wholesale

China Systems creates Trade Digitalisation Services (TDS) unit

In response to current market needs and the rapidly evolving global trade landscape, China Systems, world-leading trade solutions vendor, has created a specialised Trade Digitalisation Services (TDS) Unit, which is composed of experts who have deep technical, project and business domain knowledge on International Trade operations.

22 May 2020

News/regulation

Standard Bank calls for rule changes to enable trade digitisation

Standard Bank says it is talking to regulators in multiple markets about amending regulations during the Covid19 crisis to make digital trade easier.

21 May 2020

News/wholesale

IBM takes stake in bank-backed blockchain platform we.trade

IBM has taken a seven percent stake in we.trade, a blockchain-based trade finance network owned by 12 banks.

21 May 2020

Company update/payments

Surecomp supports DNB with full Swift readiness ahead of new 2021 deadline

Surecomp, the leading provider of global trade finance solutions for banks and corporates, today announced that one of its flagship customers - Norway’s largest bank DNB - is ready to be switched on with SWIFT-compliant versions of both its front and back-end solutions, IMEX and allNETT.

20 May 2020

News/payments

European banks call for one-year delay to T2-T2S consolidation project

Four European banking associations have called on the ECB to institute a one-year delay to the consolidation of the Target2 real-time gross settlement mechanism with the T2S securities settlement platform.

20 May 2020

News/payments

ECB responds to Swift’s blueprint for ISO 20022

Under instruction from the European Central Bank, interbank payments network Swift has drawn up a blueprint designed to mitigate complications borne from its surprise decision to delay the migration to the new ISO 20022 messaging standard.

20 May 2020

Company update/wholesale

Deutsche Bank goes back to basics with new Guide to Trade Finance

Deutsche Bank has today announced the release of its Guide to Trade Finance, outlining the fundamental practices and rules critical to the trade finance industry’s ongoing functioning and future development.

15 May 2020

News/payments

Will SCA delays stall Request to Pay’s momentum?

Request to Pay (R2P) services originally scheduled to launch later this year have been expected to play a major part in transforming the UK and EU’s payments ecosystem.

14 May 2020

Company update/wholesale

Baosteel and Rio Tinto complete first deal on Contour platform

Contour, the open trade finance network, has today announced the completion of a Baosteel and Rio Tinto deal, supported by Chinsay, DBS Bank, essDOCS and Standard Chartered Bank, marking the first fully integrated paperless trade for Rio Tinto with a Chinese counterpart.

14 May 2020

News/regulation

FCA: LIBOR’s tough legacy contracts are a ‘knotty problem’

Speaking at the Association of Corporate Treasurers’ International Treasury Week, Edwin Schooling Latter, director, markets and wholesale policy, FCA, said firms must push forward with LIBOR departure projects despite uncertainties regarding certain LIBOR linked loans.

13 May 2020

News/payments

Payments-as-a-Service API platform Modulr raises £18.9m

Modulr, a UK Payments-as-a-Service API platform for digital businesses, has raised £18.9 million in a funding round led by Highland Europe.

13 May 2020

Company update/wholesale

Traydstream partners with Infosys Finacle to drive blockchain based trade finance automation

Traydstream, the fintech leader in trade document scrutiny using artificial intelligence (AI), today announced the signing of a joint partnership agreement with Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys (NYSE: INFY).

12 May 2020

News/wholesale

DBS joins Contour trade finance network

DBS has become the first bank in Singapore to join the Contour blockchain trade finance network.

11 May 2020

Company update/payments

ICC Trade Register reflects on the impact of COVID-19 on global trade

The International Chamber of Commerce (ICC) has released its 2019 Trade Register Report, revealing COVID-19's potential to disrupt global trade, while also highlighting the low-risk nature of trade finance.

06 May 2020

News/regulation

ECB steps in over Swift’s ISO 20022 migration delay

Letters obtained by Finextra show an exchange by the ECB and Swift regarding the latter’s responsibility to mitigate risks caused by its decision to delay migration to ISO 20022.

05 May 2020