Announcing a ‘strategic change of direction’, US-based electronic payment technology supplier Actrade has created E-TAD Clearing Center, to provide payment, settlement and data management services. Actrade will now focus on the licensing of its payment processing technology through strategic alliances and to financial institutions. The ECC will provide these processing services to third party banks, corporations and financial institutions that private label Actrade’s payment processing technology. Actrade will continue to originate E-TADs (electronic trade acceptance drafts), but will focus on high quality credit risks while also marketing the ECC’s centralised processing capabilities. Actrade intends to increase the percentage of E-TADs sold to third parties without recourse from its current level of approximately 66% of originations last quarter.
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.