IBOS has concluded an agreement between members that allows the movement of funds between banks on a true end of day, value-dated basis. Surplus balances are swept and deficit positions are funded automatically between the foreign operating companies of a group and the Treasury Centre. These transfers are debited and credited on a same-day value basis. No value is lost and there is no explicit charge for the transfers. Using this product, a Treasurer can concentrate his cash position in any one of several European locations, leaving his various subsidiaries in a zero cash position. This enables him to have larger sums to invest, or to reduce funding requirements centrally. Often this will also facilitate the removal of liquid working capital from the group. Currently, this product operates in France, Belgium, Holland, Germany, Italy, Spain and the UK (at Bank One) with further countries to be introduced shortly. In the near future, a series of extensions to the functionality of this product is planned. Notably, these will include the setting of target balances and the ability to have the product operate at certain intervals: for example, every week, every month and so on.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more