T-Mobile International (TMO) has centralised its whole group payment transactions in Germany, the Netherlands and Austria based on CoCoNet’s Multiversa International Finance Portal (IFP). TMO’s subsidiary in the UK will be integrated in mid-2008. All TMO group payment transactions are processed via a SWIFT member-administered closed user group (MA-CUG) connector, which is an integrated module of CoCoNet’s portal solution. The transaction volume tops 100 million payments per year. In line with its strategy to centralize all group cash management and treasury operations, TMO also wanted to automate payment processing for all European subsidiaries in a central system. One of TMO’s main objectives was the reduction of costs, risks and administrative efforts. TMO intends to increase efficiency, transparency and controlling capabilities – especially to improve SOX compliance through enhanced control of financial processes. Almost all TMO subsidiaries are now live. Next steps such as the enhancement by professional cash management applications are now being planned.
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