Ivobank, a new UK-regulated Internet bank, has gone live on SmartStream’s TLM Reconciliations solution. The new bank specialises in payments and money transfer services for businesses and customers. In order to launch, the bank needed a solution to reconcile cash entries on its general ledger against the settlement bank account and the corresponding payment agent. Ivobank chose TLM Reconciliations to ensure it had sufficient flexibility and scalability to grow as the business transacted new currencies and volumes increased.
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.