LCconnect announced the creation of the first globally accessible Internet portal dedicated to letters of credit (LCs). LCconnect launched its Marketplace and Community pilot program with nine participants representing Fortune 500 companies and global banks. The Community is currently accessible to all letter of credit practitioners at www.lcconnect.com. The Marketplace will be available to all eligible participants later this year. The Marketplace streamlines the documentary and standby LC application and pricing process for both companies and banks. Companies complete a standard application form and can simultaneously invite multiple relationship banks to bid for their letters of credit. The benefits are reciprocal – banks have more biddable LC opportunities, while companies utilize a more efficient electronic application process. Additionally, banks will be able to participate in LCconnect’s secondary market for letters of credit, creating a more efficient LC credit management process.
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