Tungsten has received approval from the UK’s Prudential Regulation Authority (PRA) for the formal change of control in relation to the acquisition of FIBI Bank (UK). The fully UK authorised bank will be re-named Tungsten Bank and commence offering supply chain finance. In addition, Tungsten has begun providing invoice discounting services to selected US customers.
Edmund Truell, chairman of Tungsten Bank, said: “We look forward to an exciting future, as Tungsten Corporation builds up a disruptive force in supply chain finance on a global basis. The combination of enormous flows of invoices; simple and transparent finance offers; and high grade credit risks should enable us to advance billions of pounds, dollars, euros and francs to suppliers on the Tungsten Network.”
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.
Chicago based Treasury Management System (TMS) vendor GTreasury and Sydney based risk and treasury management vendor Visual Risk have joined forces in a strategic alliance to ... read more