Category: Sibos

Sibos 2021, London

ESG: ING gives the green light

The responsibility for sustainability falls on everyone, everywhere. It should unite us. We all need to work together, but how do we achieve such a big collective goal?
Following the Sibos session on ‘Accelerate Sustainability in Trade’, speaker Achraf Abourida, head of trade at ING Bank, discussed trade’s role in sustainability and its global importance in an exclusive interview with Trade Finance Global (TFG).

BNY Mellon report: adoption of electronic payment tools is mounting

BNY Mellon, in collaboration with Aite-Novarica Group, today released a study examining commercial payment trends, finding that businesses are embracing a range of emerging digital tools such as real-time payments (RTP) and digital wallets.  The report also found significant regional differences in channel usage. The adoption of instant payments is expected to increase, both in… Continue reading BNY Mellon report: adoption of electronic payment tools is mounting

First mover disadvantage: the hesitancy behind eBL adoption

Electronic bills of lading have been around since 1999 and yet are rarely used. The experts at sibos weigh in on some of the challenges facing their adoption and offer advice for overcoming them.

The African financial market: resilience amidst a challenging landscape

Absa Africa Financial Markets Index shows improving market infrastructure in majority of countries in the region African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, Official Monetary and Financial Institutions Forum’s (OMFIF) 2022 Absa Africa Financial Markets Index reveals. Even as challenging market conditions weighed… Continue reading The African financial market: resilience amidst a challenging landscape

Interoperability: the devil is in the detail

The world is run on transactions. And the world of transactions is changing.

The field of cross-border payments is a vast and multi-faceted area, posing multiple challenges for banks, corporates, and businesses daily. With so many nuances within the sector, it can be difficult for market players to reach a unanimously beneficial solution.

AI automation enables adherence to regulatory compliance measures

Artificial intelligence-based (AI) automation can relieve banks of heavy compliance responsibility, according to Conpend’s new whitepaper ‘Navigating the complex sanctions landscape: letting AI take the strain’. The paper puts forward the case for digital solutions to take on the sanctions strain, using AI and analytics to more effectively and efficiently detect criminal activity, and keep… Continue reading AI automation enables adherence to regulatory compliance measures

Collaboration between fintech and bank as a step toward reversing disintermediation

BNY Mellon, in collaboration with Aite-Novarica Group, today released a report finding that financial institutions (FIs) servicing business clients are being disintermediated by fintech payment providers. But it also found that banks are slowing the trend by partnering with larger banks who have already built connections to fintechs. The report – The Forces Disrupting Payments – showed that banks,… Continue reading Collaboration between fintech and bank as a step toward reversing disintermediation

HSBC debuts new online application journey to improve digital receivables finance capability

HSBC has reduced the approval process for new receivables finance (RF) customers from 1-2 months to under 48 hours using a new technology platform. Using the new online application journey, co-created with Trade Ledger, HSBC customers can transfer data directly through an application programming interface (API). Customers also have the option to upload data through… Continue reading HSBC debuts new online application journey to improve digital receivables finance capability

Standard Chartered launches Trade Track-It portal for live trade transaction statuses

Standard Chartered announced the launch of Trade Track-It, a one-stop digital trade transaction portal that offers its clients end-to-end visibility of their trade transaction status globally. Integrated with DHL’s tracking system and Lloyd’s List Intelligence’s vessel tracking system through application programming interface (API), the portal provides clients and their counterparties with 24/7 access to near real-time… Continue reading Standard Chartered launches Trade Track-It portal for live trade transaction statuses

Finastra partners with Contour to offer a new digital trade finance network

The integration brings together banks and corporates globally through a common digital network ecosystem, increasing access to trade finance while enabling seamless and secure transactions. Today at Sibos 2022 in Amsterdam, Finastra announced a collaboration to integrate its Fusion Trade Innovation software with Contour, the global digital trade finance network, providing banks and corporates with a streamlined end-to-end… Continue reading Finastra partners with Contour to offer a new digital trade finance network

70% of finance executives predict growth and slowing inflation by end of 2023, new study suggests

Financial institutions are bullish on growth despite growing fears of a worldwide recession, according to new research from Swiss and Spanish stock exchanges operator SIX. The global Future of Finance Study, of c-level executives across 300 international financial institutions found that over two thirds of firms expect the economic outlook to improve over the next… Continue reading 70% of finance executives predict growth and slowing inflation by end of 2023, new study suggests

Surecomp announces automated ESG scoring on RIVO to help drive sustainable global trade

Surecomp today announced that it has completed a pilot of automated environment, social, governance (ESG) scoring and tracking in its flagship trade finance solution RIVO™.  Based on a dataset of more than one thousand transactions, covering more than seven hundred corporates, hundreds of goods and trade routes, ESG scoring can now be applied at a… Continue reading Surecomp announces automated ESG scoring on RIVO to help drive sustainable global trade

Bank of America extends its payment API capability to over 350 payment types

Bank of America today announced the launch of an expanded CashPro Payment API through which clients can access more than 350 payment types and bundle payments. The development comes as Application Programming Interfaces (APIs) continue to transform business-to-business (B2B) and business-to-consumer (B2C) transactions given the ability of APIs to provide real-time data, reduce costs and… Continue reading Bank of America extends its payment API capability to over 350 payment types

Data standards: a key to a truly sustainable trade

For sustainable trade finance to scale, the industry needs a uniform model for ESG data that can be used by everybody, says Pradeep Nair, Global Head of Structured Solutions and Development of Standard Chartered Bank

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