Payments standards have taken a step closer to fruition following the launch of TWIST’s XML-based standards for commercial payments and working capital management. The standards, designed to support corporate-to-corporate straight through processing, cover invoice processing and the automated processing of payments supporting electronic fund transfers. The standards include an XML core payment kernel for corporate-to-bank payment initiation and status messages, produced through collaboration between four standard bodies (IFX, OAGi, SWIFT and TWIST) and nine banks. Tom Buschman, Treasury Development Manager at Shell and coordinator of TWIST, said: ‘Several organisations have already started with the implementation of the harmonised payment standards. To further encourage take-up of the new standards, TWIST is establishing various supporting activities, including research, implementation support, training and education.’
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
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.