KeyBank became the first to use the Federal Reserve Banks’ FedForwardSM Paper-to-Image product supporting the Check 21-enabled electronic clearing process on 4th of November. The US’s federal Check 21 law went into effect October 28, 2004, allowing financial institutions to process checks electronically and present substitute checks in place of originals. The FedForward service enables deposited paper items to be converted to electronic images and presented as either substitute checks or an electronic file to the paying bank. In its first day of using the FedForward Paper-to-Image service, KeyBank deposited more than 3,700 checks, with a total value of more than $56m at the Seattle Branch of the Federal Reserve Bank of San Francisco.
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.