Financial services software group Misys has added global processing to its TI Plus trade finance processing solution.
Misys said that banks face increasing pressure to offer high customer service levels and deliver standardised trade services regardless of location. TI Plus’s global processing functionality would enable them to gain a competitive edge over other trade finance specialists through improved customer service levels, reduced costs and more efficient operational structures across their regional and global trade finance business.
The group added that the solution provides the opportunity for banks to offer more robust service level agreements to customers and global processing functionality has already been licensed by five banks, including ING and Qatar National Bank.
“The evolution of the banking industry has accelerated the demands to enrich customer service, and reduce operational costs whilst the pressure on improving and standardising operational risk management has increased,” said Steve Walshem, product manager for TI Plus global processing, Misys.
“Global Processing allows a bank to ‘act globally’ significantly improving their offering to corporate customers, as well as increasing cost-efficiency and the management of operational risk in-house.”
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.