Many may think the phrase “trade finance” is really just a euphemism for financial complexity. Yet the historically paper- and manually-intensive processes are giving way to modernisation and digitisation. Pay close attention to the changes.
Before the crisis trade was growing faster than GDP. Now it isn’t, buffeted by a dangerous mix of economic and political headwinds.
Hurricanes Harvey and Irma are likely to see insurance-linked securities (ILS) grow into maturity as a fully-fledged asset class, industry experts predict.
Africa presents the ideal environment for new cash and payments services architecture by linking rapidly changing customer expectations with new technologies. This puts banks at the centre of the creative clash of trends and technology as Africa’s financial institutions harness disruption for innovation and growth.
Time and experience have shown that consolidated post-trade functions enable more informed and concentrated overviews of positions, settlements and liquidity across the globe – thus saving reporting costs, as well as allowing decisions to be made more quickly and effectively.
The only way PSD2 will function effectively and securely, will be through the mobile banking application itself. However, the directive does not specify how secure this access will be, nor, what risks will arise, and for who.
PSD2 heralds a new dawn for mobile payments, as the regulatory technical standards around the upcoming European open banking regulations are expected to put mobile devices at the heart of new payment techniques. But despite the regulatory environment nudging markets towards certain payment types, it is not easy to predict exactly how consumers will adopt the technology.
These are interesting – and uncertain – times for global retail banking, from Trump's desire to remove Dodd Frank to Brexit and new British banking regulations.
Only a month ago the FBI announced that fake eBay sales were being used to mask payments from the US to the Islamic State (ISIS). Terrorists and criminals are becoming more sophisticated in terror financing and money laundering, so businesses must be too.
Matching incoming payments with invoices has long been a frustration for companies with many valuable hours being spent trying to determine who’s paying for what. However, artificial intelligence (AI) and machine learning solutions are starting to emerge that claim they can combat these treasury headaches.