The Euro Banking Association has appointed Italy’s SIA (Società Interbancaria per l’Automazione) as the technology partner to build and operate a new pan-European Automated Clearing House for mass payments in euro. The decision to appoint SIA as the partner for the STEP2 project was confirmed by the EBA at its general meeting in Verona. The system has been commissioned in response to European regulatory pressures for banks to cut the costs of transmitting cross-border euro payments to the levels of domestic money transfer charges. Under STEP2, cross-border and domestic retail payments will be sent as files to the EBA/SIA operation center and will be then processed, cleared and sent for settlement. Settlement Services will be provided either directly by banks, through settlement agent banks or through central banks.
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