The European Union’s revised Payment Services Directive (PSD2) will be a game changer for the financial services industry when it takes effect in 12 months’ time. How should each party that will feel the impact of PSD2 be responding?
If they have not already begun their preparations for the introduction of the Payment Services Directive, European banks will need to make it a priority task this year.
An open letter to the banking industry, which is far from prepared for the wide-ranging impact of open banking.
Individuals and corporates can now make instant euro credit transfers between accounts across a region that will be extended to over 34 European countries.
The US finally got faster payments this autumn, with NACHA launching the first phase of same day ACH in September. This and other payments initiatives were in the spotlight at this year’s AFP conference in Orlando, Florida.
Why does bank documentation have to be so cumbersome? What can be done about it? This article proposes a way forward for the industry and its customers.
CGI has conducted an annual global transaction banking survey for the past eight years. In 2012, we began partnering with GTNews to produce and deliver the survey to the market. For many readers of GTNews, as well as CGI clients, this annual report on the state of the corporate-to-bank market has become a must read.
SWIFT has failed to keep pace with the revolution in international payments since its formation in the early Seventies and has little incentive to raise its game.
Seen as the ultimate model by treasurers, centralisation is rarely as black and white as it appears. Today, digital advances are making it easier for every treasury function to reap the benefits of centralisation while overcoming financial, operational and psychological barriers.
Despite the profound changes created by SEPA and faster payments initiatives, behind-the-scenes process overhauls are long overdue to keep up with the digital age.