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.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.