Latest NewsRSS Feed

Six More Banks Join SWIFT KYC Registry - 22 July 2014

SWIFT said that six more global banks have signed up to jointly develop its Know Your Customer (KYC) Registry, a centralised repository that maintains a standardised set of information about banks required for due diligence processes ...

IT Outsourcing in Banking Reaches Five-year High - 22 July 2014

The banking, financial services and insurance (BFSI) market - estimated at between US$105bn and US$130bn - still reigns as the largest adopter of information technology outsourcing (ITO) services, according to Everest Group ...

New York Unveils BitLicense Framework - 21 July 2014

The New York Department of Financial Services (DFS) has released the details of its proposed BitLicense regulatory framework. If passed, New York would become the first US state to directly regulate virtual currencies ...

Stripe Launches in Australia - 21 July 2014

Stripe launched in Australia Monday, and has also begun testing in three Scandinavian countries. The three-year-old payments startup, which is backed by a trio of PayPal co-founders, is slowly growing its global presence ...

Earthport Joins Eurogiro Network - 21 July 2014

Earthport has agreed to partner on the Eurogiro infrastructure. Eurogiro members will now have access to international low-value clearing to the 60 countries where Earthport facilitates local payments, and enabling Earthport to connect to Eurogiro members’ extensive client base ...

Payments Council Membership Hits New High - 18 July 2014

Investec, Metro Bank and TSB have joined the Payments Council as full members, bringing membership to an all-time high of 36. The organisation also has 27 associate members ...

Pensions Adviser Opposes Walgreens Swiss Move - 17 July 2014

A major US pension adviser has written to regulators asking them to investigate plans by Walgreens, the country’s biggest pharmacy chain plans to transfer its tax base from the US to Switzerland as part of its takeover of European peer Alliance Boots ...

US Beefs up Sanctions against Russia - 17 July 2014

A raft of new and tougher economic sanctions imposed by the US against Russia will target the country’s largest oil producer, Rosneft, its third-largest bank, Gazprombank (GPB), and other energy, financial and defence firms ...

US Port Strike Threat Affects Supply Chains - 17 July 2014

The prospect of a strike or lockout at America’s west coast ports that handle more than 40% of all container imports to the US are disrupting businesses’ supply chains, as shippers anticipating a stoppage divert cargo to Canadian ports ...

Eurozone Quantitative Easing ‘Would have Less Impact than Earlier Programmes’ - 17 July 2014

Although a programme of quantitative easing (QE) by the European Central Bank (ECB) would be mildly positive for euro area sovereigns, corporates, utilities and infrastructure and structured finance sectors, its impact would likely be more limited than that of similar programmes conducted in the US and the UK, says Moody’s
...

Moody’s Highlights Obstacles to Ireland’s Recovery - 16 July 2014

Despite the anticipated recovery in Ireland over the next few years, high levels of non-performing loans (NPLs), limited credit availability and household deleveraging will restrain the pace of growth, a report by Moody’s Investors Service warns ...