Fortis Bank announced that it has become the first bank in Hong Kong to participate in the Visa Commerce Open Account (VCOA) pilot programme, and the first in the world to partner with VCHEQ to launch FortisConnect. Visa International’s VCOA is a major new B2B ePayment product for global commercial transactions, which facilitates e-payment between financial institutions, businesses and portals seamlessly and securely in the e-commerce/m-commerce space. FortisConnect is a B2B payment channel that web-enables the Bank’s existing payment methods. With FortisConnect, B2B payments such as telegraphic transfers, demand drafts and cashier’s orders, can be completed on the web. Through FortisConnect, Fortis Bank customers can recall payment details easily from their registered invoices. A payment date can also be pre-set to avoid the hassle of late payment. The scope of services available will be broadened to other trade-related services, phase by phase.
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.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.