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Industry roundup: 11 June

Traydstream integrates Refinitiv’s World-Check KYC and AML services

Traydstream, a London-based trade AI solution provider, has announced a partnership agreement with Refinitiv’s World-Check, which will be integrated with its automated trade compliance checks. 

As businesses embrace the benefits and opportunities offered by the digital economy, they must also increase their efforts to protect themselves and their customers from crimes such as fraud and money laundering. Understanding the identity of customers through reliable and thorough screening tools is now a critical part of doing business for a range of financial services providers from banking through to electronic payments. 

Traydstream clients will now be able to use Refinitiv’s World-Check Risk Intelligence as used by regulated companies to help screen for financial crime risks as part of their anti-money laundering (AML) compliance programmes.  

 

Uber highly commended for best short-term investing solution with ICD Portal

Global technology platform Uber has been highly commended by Treasury Today’s Adam Smith Award 2020 judges for Best Short-Term Investing Solution, using ICD Portal. ICD is an independent portal provider of money market funds and other short-term investments for corporate treasury. 

“We are thrilled that our global treasury team has been recognised with an award for the work we have done in standardising our processes and systems, and in particular, with the efficiencies and time-savings we’ve gained onboarding ICD Portal,” said Carolyn Hansen, head of Treasury at Uber Global. 

“The Uber team deserves this recognition for their long-term planning and making sure they had the systems in place to act quickly and strategically on opportunities to optimise their cash,” commented ICD co-founder and managing director, Tom Newton.

 

Deutsche Bank to create International Private Bank

Deutsche Bank has announced that it will combine its Wealth Management and Private & Commercial Business International units into a new International Private Bank, serving 3.4 million private, wealth and commercial clients.

 

The International Private Bank will bring together Wealth Management’s globally connected clients across Germany, Europe, the Americas, Asia and the Middle East and Africa, along with private clients and small and medium-sized enterprises in Italy, Spain, Belgium and India. The business will have around €250bn assets under management and a combined revenue of approximately €3bn. Claudio de Sanctis, most recently global head of Wealth Management, will become head of the International Private Bank and CEO EMEA.

 

Surecomp launches fintech trade platform

Surecomp, a provider of global trade finance and treasury solutions for banks and corporations, has announced the launch of its new fintech Marketplace. The web-based platform provides a single point access to other solutions within the wider trade finance ecosystem.

The open API standard fintech Marketplace is designed to enable banks and corporates to harness efficiencies and foster collaboration across the trade finance spectrum. Through this extended community of specially selected solutions, Surecomp says that Marketplace addresses areas such as compliance and risk analysis, digital operations, cybersecurity, logistics, artificial intelligence (AI), know your customer (KYC), RegTech and enhanced analytics.

Surecomp says that by using its open API standard to integrate with trade finance related solutions, Marketplace promotes innovation and facilitates a more holistic approach to trade finance digitisation for corporates and banks.

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