Deutsche Bank Global Cash Management announced that it now offers an enhanced global payment processing capability to corporates through db-worldPAS, to further support the globalisation efforts of corporate clients. The new capability enables companies to process their cross-regional business through a single link into their local region, thus turning the product into a fully global solution. KLM Royal Dutch Airlines is the first customer to use the newly established link between Europe and Asia. This link allows KLM to streamline and standardise its transaction handling across all markets within these two regions. Under the enhanced product, KLM sends a single file of payment instructions from its global Treasury Service Centre in the Netherlands directly to Deutsche Bank in Frankfurt. The file, in EDIFACT format, contains both ACH payments and drafts for beneficiaries in Asia. Deutsche Bank processes the payments into the local clearings, then issues and mails the drafts. KLM funds its account with Deutsche Bank on the day the payments are made, providing just-in-time cash management.
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