The Bank of New York Mellon’s (BNYM’s) treasury services group has launched Remit Worldwide, an enhanced white-label product that will enable client US retail banks to facilitate worldwide remittances, a banking service which the bank sees as offering significant growth potential in terms of both revenue and customer relationships. BNYM first entered the remittance space several years ago with an offering that enabled non-US client banks to receive remittances from customers who had moved to the US and wanted to remit funds back home. The bank describes Remit Worldwide as being enhanced to offer a more robust white-label solution, enabling customers of client US banks to remit funds directly to beneficiaries overseas.
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.