Corporates can expect greater global tax reporting from January 2016
by CTMfile
Things are about to get a whole lot more complicated in terms of tax and reporting, for both corporates and the institutions they hold accounts with.
Bank Relations & KYC
Background
Bank relationships are vital. Bank Relationship Management (BRM) is a major task in any corporate treasury department and covers many other staff around the company. Often large companies use hundreds…
Read moreJohn Read, ex-Citi: “universal banking model is inherently unstable & unworkable”
by CTMfile
“No amount of restructuring, management change or regulation is ever likely to change that.” Does this signal ever more turbulent times for big universal banking groups? How do corporates protect themselves?
Dutch lead way in Digital Identity with new bank initiative and government target
by CTMfile
Banks announce pilots for early 2016 and government sets 2017 target for all transactions with citizens and businesses to be conducted electronically
For centralised corporate KYC: only Thomson Reuters Org ID Managed Service suits
by CTMfile
Org ID achieves milestone of 10,000 KYC Records from financial Institutions, funds and corporations
Citi launches paperless account opening and full eBAM in North America
by CTMfile
New features in the eBAM service include electronic submission of supporting documentation for account administration and signer management (Updated with figure)
Swift launches payments and trade finance analytics tool
by CTMfile
Swift has launched a tool, Watch Banking Analytics Premium, that enables its banking customers to analyse their payments and trade finance traffic over the Swift network.
Are global banks in better shape thanks to Basel III?
by CTMfile
A monitoring report has found that all internationally active banks meet Basel III risk-based minimum and Common Equity Tier 1 target capital requirements.
1,125 banks sign up for KYC Registry 10 months after launch
by CTMfile
More than 1,125 financial institutions have now signed up to Swift's Know Your Customer (KYC) Registry, which aids compliance with regulations to prevent financial crime.
A game-changer for bank-corporate connectivity?
by CTMfile
Will corporates be able to programme their own interface with their banks in future? The intersection of banking and application programming interfaces (APIs) is an increasingly hot topic.
Overcharging on interchange fees is catching up with Visa and MasterCard
by CTMfile
MasterCard pays out $61 million to settle with UK’s Tesco and suits from many other retailers to follow plus interchange fee caps are set to come into force by year end
Know Your Customer (KYC) management in the day-to-day operations of a corporate treasury department
by CTMfile
Steve Pulley, Global MD of Org ID at Thomson Reuters, describes dynamics of KYC, how corporates will be able to ask their banks to go to chosen provider to receive their KYC information, and future of KYC services
Have your say in revised bank capital requirements
by CTMfile
The European Commission has started a consultation period to find out how the Capital Requirements Directive is affecting businesses and other areas of the economy.
Corporate treasury in 2015: snapshot of a risky business
by CTMfile
A survey of corporate treasurers and CFOs has found that risk management is the number one priority for financial professionals.
India and South Africa pass Basel III compliance test
by CTMfile
The Basel Committee has published reports on India and South Africa, evaluating the consistency and completeness of their implementation of the Basel III standards.
Usage of Managed Know Your Customer Services grows
by CTMfile
Even major investment firms - Stifel Nicolaus and BlackRock - are signing up for Thomson Reuters Org ID Know Your Customer Managed Service
EBA’s guidelines on failing banks
by CTMfile
The EBA has set out clear circumstances that determine whether a financial institution can be considered to be ‘failing or likely to fail'.
BELLIN adds Vallstein’s Bank Fee Analysis to tm5
by CTMfile
Extends understanding of bank fees and relationships. Today corporates can expect TMS to include bank fee analysis
SWIFT’s KYC Registry has users in more than 100 countries
by CTMfile
Banks are exchanging KYC data via service world-wide
Clarient Entity Hub: solution for client data, onboarding & lifecycle management
by CTMfile
New industry initiative for financial market participants to standardize/centralize collection and distribution of client entity information. It’s KYC, FATCA & much more. Corporates will need to participate
Is there a business case for ISO 20022? YES = strategic part of bank agnosticity
by CTMfile
AFP asked their corporate treasurers whether there is a business case, as they believe that many U.S. companies currently do not have much incentive to adopt the ISO 20022 standard
Basel III and managing its impact on Bank Relationship Management
by CTMfile
Basel III imposes major new requirements for bank balance sheets that will have a significant effect on the cost and availability of credit and treasury services
Thomson Reuters successfully completes ISAE 3000 audit type 1 for its KYC service
by CTMfile
First and only KYC service to successfully complete ISAE 3000 type 1 audit on the design suitability of its internal controls tied to transparency and the quality of its KYC managed services
SWIFT’s KYC Registry goes live for correspondent banks worldwide
by CTMfile
New industry-owned utility provides secure exchange of KYC information, supporting transparency and compliance
Global roll-out of Bank Service Billing standards & Global Service codes is slow
by CTMfile
Eight banks have 30+ corporate users and one has 325+, RBS went live in 2014, and as gradual, but positive, progress continues, and initiative to cover harmonization & new instruments starts