A new payment standards initiative has been launched by seven global banks and other organizations involved in harmonizing messaging between corporates and banks. Facilitated by Gatner, the International Standards Team Harmonization (ISTH) includes representatives of banks, technology vendors and the standards organizations IFX Forum, OAGi (Open Applications Group), SWIFT (Society for Worldwide Interbank Financial Telecommunication) and TWIST (Treasury Workstation Integration Standards Team). ISTH is focused on creating a single Core Payment XML ‘Kernel’ that can be used globally by any corporation and any servicing bank. RosettaNet has also endorsed the ISTH’s direction. The IFX standard is now in its fifth release and has been designed specifically for interoperability of systems seeking to exchange financial information internally and externally. release and has been designed specifically for interoperability of systems seeking to exchange financial information internally and externally.
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.