Citicorp Electronic Financial Services (CEFS), a subsidiary of Citigroup, is to be purchased by JPMorgan Chase for $380 million in cash. JPMorgan Chase is targeting a fourth quarter 2003 close for the acquisition. CEFS provides government issued benefits payments and prepaid stored value cards used by state and federal government agencies, as well as stored value services for private institutions. ‘This acquisition is an extension of our existing core cash management and payments business,’ said Lori Hricik, Executive Vice President and Head of JPMorgan Treasury Services. ‘The addition of the Electronic Financial Services business enhances our ability to provide a range of services to public sector clients, which supports our strategy for growth in this segment of our industry.’
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