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Regulators globally have shown financial institutions that violate tough post-crisis compliance rules no mercy and are now, increasingly, showing a determination to also punish corporates that don’t toe the line when it comes to know your customer, anti-money laundering and sanctions.
This issue’s question
“To what extent is treasury being changed by consumer behaviour?”
Recent conferences show signs of a healthy shift from technology hype to pragmatic solution focus. Blockchain hype is giving way to practical implementation. Terminator style AI is giving way to more modest but still world-changing machine learning (ML). Fast payments and open banking are spawning bank connectivity APIs but standards are conspicuously missing.
Sridhar Kanthadai, Head of Treasury Services for Asia Pacific at J.P. Morgan, provides an update on the business and what clients in the region are prioritising.
The Association for Financial Professionals (AFP) sets out its stall next week in the Windy City, as sessions on emerging technologies at its annual conference aim to bridge the gap between talk and action.
The consequences of a no deal exit from the EU by the UK could throw air travel into chaos. Businesses in particular should plan for the worst and hope for the best.
Anyone from outside the UK may find the almost equal split down the middle caused by the Brexit vote was the only matter under discussion. Far from it.
26th October 2018 – Citi announces the launch of Commercial Cards in Vietnam, offering a comprehensive suite of innovative payment solutions for corporate clients. These include Business-to-Business (B2B) solutions such as purchasing cards and our market-first Virtual Card Account (VCA) for Payables, as well as Travel solutions such as corporate cards for travel and entertainment purposes, a central travel account with a travel management company and the Virtual Card Account for Travel.
25th October 2018 – Corporates in the Asia Pacific region are increasingly mandating the use of commercial cards for all eligible purchases as they migrate from more traditional payment tools, Citi’s Asia Pacific Commercial Cards Survey 2018 shows.
24th October 2018 – EBA Clearing and SWIFT announced today the start of a work programme to migrate the large-value payment system (LVPS) EURO1 to the ISO 20022 standard. The migration is scheduled to be completed by November 2021, in line with the deadline set for the migration of the Eurosystem’s TARGET2 platform.