Empire Corporate Federal Credit Union (Empire Corporate) and SVPCo have agreed to formally cooperate on establishing system connectivity to allow for electronic exchange of check data and images between their clients’ financial institutions. The two organisations will work together to exchange electronic check presentment data and images for both forward and return presentments. Electronic check image exchange will create operational efficiencies for financial institutions and reduce industry-wide operating costs by an estimated $2.1 billion annually, according to a study conducted in cooperation with the SVPCo owner banks. Eliminating dependency on paper will improve operational efficiencies while providing further stability to the United States payment system in the event of any disruption to the transportation system.
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.