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News, Technology news / 22 March 2013 /
Trintech, a leading global provider of integrated software solutions for the Last Mile of Finance, has announced the general availability of CadencyT Complete Version 1.5, Trintech’s ground-breaking Financial Disclosure Management solution. The latest version extends Cadency Complete’s ‘Best in Class’ technology from Microsoft, Adobe and Fujitsu to help companies gain a higher level of integration, accuracy and control within their entire Record-to-Report (R2R) process. (more…)
Movers & appointments, News / 20 March 2013 /
Good Technology Corporation, the leader in secure enterprise mobility, announced today that Marc D. Gordon has been elected to the company’s board of directors. With more than 25 years of experience guiding technology companies in a variety of industries and as an expert in IT management and cyber security, Gordon brings with him exceptional qualities that will advance Good’s industry leadership position and contribute to Good’s continued growth. (more…)
News, Technology news / 15 March 2013 /
Technology spending will continue to rise among Asian financial institutions; this was the overwhelming conclusion of the Misys Southern Asia Market Forum 2013, which bought together over 100 representatives from 40 of the region’s leading financial institutions. (more…)
News, Technology news / 12 March 2013 /
A new report from Juniper Research finds that a growing user acceptance of ‘push’ mobile banking and a sharp rise in tablet adoption will drive users of transactional tablet banking services to almost 200 million in 2017. This will represent approximately 19% of total mobile banking customers in 2017, compared to 9% this year, as consumers engage in increasingly mobile lifestyles. (more…)
News, Technology news / 12 March 2013 /
The Technology Association of Georgia (TAG), the state’s leading association dedicated to the promotion and economic advancement of Georgia’s technology industry, today announced PrimeRevenue, Inc., the leading SaaS platform for global supply chain finance (SCF), as one of its Top 40 Innovative Technology Companies in Georgia. TAG will recognize this prestigious group at the 2013 Georgia Technology Summit (GTS) on March 20, 2013, at the Cobb Galleria Centre. (more…)
News, Technology news / 7 March 2013 /
Leading financial technology company, WorldPay, has today announced the acquisition of YESpay International Ltd, a leading payments services provider. (more…)
News, Technology news, Treasury news / 22 February 2013 /
Sucden Financial has expanded its technology choices for FX and bullion clients by adding Currenex to its suite of connectivity solutions. Institutional clients now have the option to trade FX and bullion via Currenex’s API and front-end trading systems, as well as the capability to offer the front-end trading platforms to their end customers. (more…)
December 2012/January 2013 / 4 January 2013 / Frances Faulds, Columnist, FX-MM
With multi-dealer and single dealer platforms attracting equal amounts of flow, FX-MM’s Frances Faulds finds that e-FX platforms have set their sights on growing through greater customisation and integration with the end user.
Multi-dealer and single-dealer FX platforms have grown up together and, as such, both face the same challenges ahead, as electronic trading overtakes voice-broking, users demand still more from their trading systems and the popularity of mobile devices continues to grow. As the market begins to reach maturity all e-platforms are using technology to differentiate their services and improve stickiness, whether it is from greater integration or the additional functionality of the platform.
Robert Wade, Head of Corporate Electronic FX Sales at Deutsche Bank, says that the multi-bank platforms provide a useful avenue to execute. He says: “I don’t believe it is an ‘either/or’ situation. Corporates in particular use a number of different avenues for execution and this goes from plain vanilla, cross-border cash management services all the way up to sophisti – cated algorithmic trading.” (more…)
December 2011 / January 2012 / 5 January 2012 / Frances Maguire, Columnist, FX-MM
While 2011 will go down as the year that FX forwards and swaps were exempted from the Dodd- Frank Act, it has been a long year of waiting for the regulators to detail the new era of clearing and collateralisation, finds Frances Maguire.
In April 2011, the US Department of the Treasury issued a long-awaited determination to exempt foreign exchange swaps and forwards from the mandatory central clearing requirements of the US Dodd-Frank Act, ending months of uncertainty since the law was passed in July 2010. FX options, currency swaps, cross-currency swaps and non-deliverable forwards will not be exempt. Nor are other OTC swaps that corporates use, such as interest rate and credit default swaps. Furthermore, although FX swaps and forwards will be exempt from mandatory central clearing, the US Treasury stressed they will still be subject to rigorous new reporting requirements and strengthened business conduct standards, notably, the creation of a global foreign exchange trade repository, which will dramatically expand reporting to regulators and to the market more broadly. (more…)
November 2011 / 9 November 2011 / Rebecca Brace, Columnist, FX-MM
In the financial services industry “Cloud Computing” has so far made inroads mainly into noncritical areas of the business. Rebecca Brace talks to industry experts about why this is the case and considers how the model is likely to evolve in the future.
Cloud computing has emerged as a buzzword for the latest breed of hosted technology offerings – but the implica – tions of this type of technology for the financial services industry are still taking shape. Does cloud technology represent a significant moment for the industry, a natural progression of some older trends – or no real change at all?
First it is important to ask what is actually meant by the term ‘cloud computing’. The term has been in widespread use since around 2009 and is often grouped together with the older terms Application Service Provider (ASP) and Software as a Service (SaaS). Kevin Grant, CEO of treasury management system provider IT2, sees these as different points on the same spectrum: “Cloud computing is a new name for something that’s already established – it seems to have superseded SaaS, which superseded ASP.” (more…)
November 2011 / 9 November 2011 / Frances Maguire, Columnist, FX-MM
Jiro Okochi co-founded Reval in 1999 to bring an internet technology solution to the underserved market of corporate derivative end-users – treasury organisations that use these instruments to hedge business risk, and he has campaigned on their behalf ever since. Frances Maguire talks to him about the emerging regulatory environment.
Jiro Okochi, CEO and co-founder of Reval, a global provider of a Software-as-a- Service solution for enterprise treasury and risk management, is not a pessimistic man, in fact he is quite a visionary, but he does believe that the financial services industry is in for a bit of a shock when the full ramifications of the legislative changes start to take effect. And while everyone expects the cost of OTC products to go up, he says, the surprise will be by just how much they will increase in cost. The entire derivatives market will be restructured, and any corporates operating under the assumption that they are largely not impacted by the pending reforms will be in for a big surprise. (more…)
November 2011 / 9 November 2011 / Francis Maguire, Columnist, FX-MM
Despite the economic downturn, transaction banking volumes are still growing, but with a new focus on cost, risk and liquidity, how will payments evolve in this new regulatory regime, and what will be the winning technologies used? Frances Maguire asks Peter Jameson (Bank of America Merrill Lynch), Michael Burkie (BNY Mellon) and George Ravich (Fundtech) for their views.
Transaction banking is in a state of flux. While the three main components to the transaction banking industry – trade finance, cash management and asset servicing – continue to thrive through flow business, the twin pressures of risk and regulation are among the factors driving transaction banks to look for economies of scale, through outsourcing and collaboration, and make investments in more innovative IT solutions to drive business. (more…)
Blog / 3 November 2011 / David Sherriff, CEO Microgen
Regulators were unable to step in and avert the financial crisis in a timely manner because neither they, nor many of the banks, were able to accurately qualify the potential risks held. In the aftermath, there has been an ongoing debate as to whether the investment and retail arms of UK banks should be ‘ring-fenced’ or even completely separated, to protect customers’ funds from the high risks associated with global investment.
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September 2011 / 13 September 2011 / Geoff Hodge, Milestone Group
Outsourcing has been around for some time and it has delivered reduced costs and improved efficiency but unless outsourcing contracts are well managed new, unanticipated risks can creep in, and the outsourcing agreement can become part of the problem not the solution.
It’s a long time since outsourcing has been regarded as cutting edge. A variety of models have been adopted, the technology is largely mainstream, and fund managers partitioning off non-core activities to specialist service providers has become a common practice. Innovative product development, core invest – ment functions and business development stay in-house, while commoditised processes are often farmed out. In many ways outsourcing has done what it claimed: reduced costs and improved efficiency. But it has also introduced new, and often unanticipated, control requirements into a fund manager’s organisation. As direct control of business critical functions has passed to third parties – often accompanied by direct client contact – new sources of risk have entered the enterprise. Crucially the ultimate responsibility for operational outcomes and service delivery cannot be outsourced and fund managers are well aware they still bear the reputational cost in the event of errors and problems. (more…)
September 2011 / 13 September 2011 / Phil Lynch President and CEO, Asset Control and John Mitchell Vice President, Asset Control
Over the past ten years, front-end systems have attracted the lion’s share of IT investment. Low- latency, high-speed automation has been the big-money game. Trading has gone electronic, international, multi-asset and cross-venue. As returns from commoditised long-only investments decrease, firms are looking to more complex trading and investment strategies in the search for higher yields. At the same time regulatory change is firmly on the agenda, and transparency and risk management have become the watch words of the financial markets.
Greater data demand
The amount of data needed by the average firm has exploded on every front. More venues, portfolios, customisation, indices and data-dependent asset classes have driven up volumes. Valuations are now needed daily or even intraday – not monthly and quarterly. Balance sheet information, sales reports, regional economic projections and staff track records are becoming as important as fundamental and technical data. Even if the big-name aggregators could provide all that, other new sources would still be essential to gain competitive edge. (more…)
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