Bank and Standard Bank have partnered on a financial supply chain (FSC) pilot project using the SWIFTNet Trade Services Utility (TSU) infrastructure. The FSC pilot project enables both banks to monitor various supply chain events in order to explore ways of providing liquidity in open account trade transactions. Using TSU, Deutsche Bank and Standard Bank will exchange supply chain data automatically for their respective buyers and sellers. They will leverage the TSU matching functionality to provide a basis for payment or financing services for their clients.
Deutsche Bank and Standard Bank have successfully participated in initial testing of the TSU functionality. The pilot is planned to include live transactions for corporate clients who have agreed to participate.
Jonathan Richman, global product head, trade and FSC, global transaction banking, Deutsche Bank, said: “We are pleased to partner with Standard Bank for this important step forward that begins to turn the promise of TSU into a reality. This alliance will help clients conduct international trade on open account terms, improve automation and risk management while accessing new types of finance to improve cash flow.”
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