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Importance of Transaction Banking

Business activity is key to economic recovery and to prosperity where there is poverty. It is through businesses and corporations trading in complex patterns of exchange of goods, services, money, assets and future obligations that wealth is created. 

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Corporate banking on the watch

CBX, the 

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Keeping up with the Joneses – how can banks compete?

Mike Rayfield, SVP, Senior Consultant, Channels and Amit Gupta, SVP, Delivery Head – Middle East debate how important would technological innovation be to the success of Middle Eastern banks in ten years’ time and would Middle Eastern banks need to “catch up” with regard the implementation of more innovative technology

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Central KYC Registry: Ease of Banking, Zero Duplication

The directives set by the Ministry of Finance – India, in the Union Budget for the year 2012-13, to establish a Central KYC Registry, and to gradually eliminate the multiplicity of registration of KYC data, is finally taking shape. The Reserve Bank of India, announced in November 2015, that it would soon be naming the entity that would function as the Central KYC Records Registry (CKYCR). This agency would be responsible for receiving, storing, safeguarding and retrieving the KYC records in digital form for a customer.

What is CKYCR and how will it change banking for Indian businesses? 

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Regulations in Supply Chain Finance

FOR ONCE, LET’S PUT THE CRISIS BEHIND US

Even before starting to write this article (which, by the way, is on regulations affecting supply chain finance), I said to myself, “Don’t start another article talking about the 2007 global financial crisis. People have read enough about that.  Move on.” So, just this once, let’s put the crisis behind us.

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Regulations Impacting Liquidity Management

THE CURIOUS CASE OF THE TREASURER

There is a corporation in Asia, to be more precise, in China. The industrial revolution in China helped this corporation to expand its boundaries and it chose to open offices in Singapore, Hong Kong and Malaysia over the past 6 years. It now plans to expand into America and Europe. Sounds like a cake walk for the corporation. But imagine being the treasurer.

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Game of Regulations

How regulations are defining the game in the payments industry

Regulations seem to connote something unpleasant. I remember the one time I played football, and when the referee wasn’t paying attention, a member of the opposing team kicked me in the shin. I looked to the referee to cry ‘foul’ and when that didn’t happen I yelled at the referee saying, “You weren’t even looking”. Guess what.

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Money that you can see

Universal fact: Always happy to receive money

In the list of messages that could make your day, a sweet message from a beloved would probably top the list. An equal contender for the top slot could be a message intimating you that money has just been credited into your bank account. Be it your salary or receipt of pending payment for the goods and services delivered, an ecstatic feeling runs down your spine when cash flows in.

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The Changing Dynamics of Managing Liquidity

There are several corporations desperately looking to optimize their liquidity, many of them bulging with cash and reluctant to invest. Read to find out more about the changing dynamics of managing liquidity.

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Customer Onboarding: Weathering the storm of regulations

Perhaps no process within transaction banking feels the brunt of regulations as severely as customer onboarding.

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Payments Decisioning with Funds Control

Most Tier 1 banks today have comprehensive processing capabilities. However, as business evolves and most corporate customers are organized into complex entity hierarchies and access multiple payment products and services what plays a vital role is the banks’ ability to ensure that the corporate has  effective access to funds across accounts. The challenge, as a result, also becomes monitoring these funds and ensuring guaranteed payments with effective fund earmarking, limit checks and limit monitoring.

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Celent Awards for CBX/Receivables Management. Exciting times at iGTB.

Corporations can get paid ten times faster and at a fifth of the cost with electronic invoicing. There is thus a proliferation of digital channels through which corporations expect their transactions to go through. With world trade forecasted to grow by 73% in the next 15 years, banks that offer trade services to their clients are looking at their revenue opportunities multiplying three fold in the coming years.

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Mobile Banking

The technology that’s set to rule banking industry

  • 40 Million + transactions are performed using mobile and internet banking every week in the top 5 European banks.
  • 1 Million out of 25 Million existing customers actively started using mobile banking services, within a year of its launch, in a major US bank.
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Robinson Crusoe’s Adventures with Payment Systems

Fans of literature have been familiar with Daniel Defoe’s Robinson Crusoe and his adventures, since 1719.

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A Paperless Trade World

by Sanskriti Nagar

Paper, paper everywhere,

Of its pitfalls, beware!

The competitive advantage to be had by adopting paperless technology in trade finance is clearly evident. With the success of cross-border initiatives and innovative technologies causing a disruption in the paper-intensive business, banks and corporates can truly collaborate with each other to eliminate the shortcomings of paper and realize a trade world of sustainable supply chains. 

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Mind the Gap

.....or why cross-border payments today are like the London Underground.

There exists a glaring gap between corporate expectations of how banks should be processing their cross-border payments – and the contrasting reality experienced by many - in particular SMEs. Read on to find out more about the growing revenue potential that cross-border payments offer.

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Back in fashion: Andrew England on transaction banking’s newfound popularity and remodel

Andrew England speaks to Global Finance to discuss why transaction banking is back in the limelight – and how challenger banks are contributing to dynamic change in this sector. Transaction banking is once again attractive to banks, but with some of the international giants retrenching, challenger banks are stepping in to the space. 

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Straight-through-Processing in Payments. Why do banks need to think about it?

While 100% STP may seem like an impossible dream, achieving the highest possible STP rate is critical for banks that desire efficient operations. Why should banks really worry about their STP rates?

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Struggling in the Transaction Banking Universe? You’ve come to the right place!

by Chandragupta Acharya

AVP, iGTB

03 April 2015

Banks are struggling as the pressure on them from clients and regulators continue to increase. Read how an advanced technology product like iGTB can help you seize the day. 

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Should banks be more like intelligence agencies when it comes to KYC?

Banks harness the power of social media to meet increasingly demanding KYC requirements and streamline onboarding.

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