Nordic bank SEB will be ready for incoming payments to Sweden under the Payment Services Directive (PSD) in time to hit the deadline of 1 November 2009, even though the Swedish PSD legislation will not be transposed until the spring of 2010.
The PSD aims to make payments on the European market easier and more cost efficient for corporates and clients and is an important building block in creating a single European payment market.
“For clients, the PSD will entail two major changes in terms of payments. Transferred amounts shall reach the receiver intact – no deductions may be made from the payment amounts, as previously occurred. Instead, any fees must be reported separately. In addition, the amount will be available to the recipient the same day as the receiving bank is credited,” said David Teare, global head of customer relationship management (CRM) at SEB. “SEB fulfils these requirements also in Sweden from 1 November, as this is something that our customers, other countries’ banks and their customers expect.”
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