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Industry roundup: 20 August

Wells Fargo announces new Global Treasury Management group 

Wells Fargo & Company has announced that Paul Camp has been named head of Global Treasury Management. Most recently CEO of Treasury Services at BNY Mellon, he will join the company in November, and will dually report to Perry Pelos, CEO of Wells Fargo Commercial Banking, and Jon Weiss, CEO of Corporate & Investment Banking.

This new role brings together Wells Fargo’s Treasury Management and Global Payment Solutions teams into one organisation that provides global cash management and payments services. By combining these businesses, Wells Fargo says it will be able to leverage its capabilities more effectively to help clients manage their funds and process payments worldwide. As previously announced internally to Wells Fargo, Danny Peltz, a 31-year veteran of Wells Fargo and the current head of Treasury Management & Payment Solutions, will retire on 15 December.

"Over Paul’s 21-year career, he has experience at industry-leading global financial institutions and in technology startup environments, focused on delivering the best solutions for clients," said Pelos. "He has a deep background in treasury management and payment solutions, which are strategic growth opportunities for the company." 

At BNY Mellon, Camp led an organisation that offers global payments, trade services, cash management, and foreign exchange services in 36 countries. Before that, he served as the CFO, treasurer, and EVP of Financial Operations at Circle, a fintech focused on secure technology to use and store money. He has also held senior-level roles in transaction services and cash management at both JP Morgan Chase and Deutsche Bank.

 

Deutsche Bank issues its first green Formosa bond

Deutsche Bank has successfully placed its first green bond in Formosa format, raising US$200m and attracting significant investor demand. This transaction marks the first ever USD Green Bond issued by an international bank in a dual-listing across Taipei and Luxembourg exchanges.

"The transaction underpins Deutsche Bank’s determination and commitment towards ESG financing," said Cynthia Chan, CEO and head of Corporate & Investment Bank for DB Taiwan. "It also reinforces the bank’s ability to navigate local markets to tap into opportunities to execute on its sustainability strategy."

The proceeds of this transaction will help to fund eligible green assets including renewable energy projects such as wind or solar power plants and the improvement of energy efficiency for sites such as commercial buildings.

 

Innovation takes centre stage as FIS Impact Awards

FIS has announced the winners of its 2021 Impact Awards programme. Independently judged by industry analyst group Celent, the annual programme recognises forward-looking organisations that use FIS technology to enhance customer service, drive tangible business results, and advance commerce and the financial world. The 2021 FIS Impact Awards winners are:

  • Baker Boyer National Bank, a Northwest community bank that has served customers for over 150 years, won for its use of the open architecture-based FIS trust accounting system to enhance its client onboarding and operational processes.
  • Boost Payment Solutions, a global B2B digital payments firm, won for its use of the Worldpay by FIS platform to convert virtual and other commercial card payments into a seamless and fully automated straight-through processing experience for buyers, suppliers and B2B intermediaries.
  • CDK Global, a provider of integrated data and technology solutions for the automotive, heavy truck, recreation, and heavy equipment industries, won for its work in transforming its accounts receivables operations using the FIS GETPAID solution, significantly enhancing efficiency and reducing disputes and aged receivables.
  • NRW.BANK, the promotional bank of North Rhine-Westphalia in Germany and provider of financial development and banking products, was recognised for its use of the FIS Cross-Asset Trading and Risk Platform to consolidate its legacy systems, enhancing efficiency and collaboration while reducing risk.
  • New York-based Quontic Bank, an adaptive digital bank, won for its innovative use of FIS Digital One and other FIS technologies to develop a Bitcoin-based rewards checking account.
  • Retail pharmacy chain Walgreens won for its use of FIS Premium Payback to enable Walgreens customers with eligible payment cards to tap into associated rewards points in real-time to help pay for in-store purchases.

For each winning entry, FIS is making a US$10,000 donation to a charitable organisation chosen by the winner through the FIS Foundation.

 

SISS provides direct bank data feeds for SAP customers

Australian independent provider of direct bank data feeds, SISS Data Services, has released ACSISS Connect for SAP Business One. The solution, available via SAP Business One partners, will enable SAP customers to receive their bank transaction data automatically each day, eliminating the traditional download/import or manual data entry process.

"Automatic bank data feeds are a new and exciting solution for SAP Business One customers in Australia," said Grant Augustin, chief executive of SISS Data Services. "Our ACSISS Connect solution enables customers to have their latest transactions from accounts held with CBA, NAB, ANZ, Westpac, Macquarie and other banks delivered directly into their Business One system each day, thus eliminating manual processes, and improving data security."

SISS Data Services has data supply agreements in place with all major Australian banks and data is collected from the banks’ core banking system. SISS does not use screen-scraping or any other non-approved method to acquire bank data, and only receives data under the express authority of the account holder.

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