Breaking News and Top Stories
National Australia Bank (NAB) is nearing the completion of an overhaul of its global trade finance business with Misys' Trade Innovation. Its New Zealand-based subsidiary, BNZ, is expected to go live in September this year, after the system was rolled out to its Asian locations over the last 15 months.Read More
Latest Publications Updates
- Back Office Systems Guide
- Islamic Systems Guide
- Payments Guide
- 17 March 2014
- 17 April 2014
- 7 March 2014
Also in the News
Commercial Bank of Dubai (CBD) became the first in the Middle East to use Misys' Trade Innovation system (the TI Plus version) on a SaaS model. The IBS team caught up with the bank's head of operations and trade finance at the recent Sibos conference in Dubai.
'Commercial Bank of Dubai [CBD] is a very trade finance-focused bank,' states Lakshmanan Sankaran, deputy general manager, head of operations and trade finance at CBD. It is a medium-sized institution, so to successfully compete with larger players in the region 'it is important that we have the right technology'.
It was imperative to upgrade. As part of the SWOT analysis of trade finance operations, 'we wanted to look for...continues (login/subscribe).
First National Bank of Long Island has been moving all of its loan origination to a single platform. Now a fair way into the project, what were the drivers and what have been the benefits?
In many banks, loan origination remains a manual and disjointed activity. This is a problem from an efficiency perspective but also, increasingly, from a regulatory one, meaning there is not a clear audit trail of the advice and steps taken when onboarding the customer. One bank that has tackled this in the last year or so is First National Bank of Long Island (FNBLI), which has been one of the first users of what is intended to be a broad, flexible origination platform, spanning commercial, consumer and mortgage lending, from Fiserv.
FNBLI previously had an ageing loan origination solution for its residential mortgage lending which had...continues (login/subscribe).
Bangladesh-based Union Bank is nearing completion with the deployment of the Ababil Islamic banking system from local supplier, Millennium Information Solution (MIS). Meanwhile, MIS has also inked a deal to support the Islamic operations of Rupali Bank, which is simultaneously rolling out the Intellect core system from the Polaris Sonali joint venture to underpin its conventional business.
Nordea has kicked off the standardisation of its global trade finance operations with Surecomp's Imex, Allnett and SCF-PRO systems. The deployment will span Nordea's entire global trade finance business, which totals 14 countries across Europe, the US and Asia.
This year's annual gathering of bank and corporate treasurers, Eurofinance International Cash and Treasury Management, descended on Barcelona for the industry's flagship event. The mood was more positive than in previous years, but the same challenges still seem to be facing corporate treasurers. IBS reports.
Barcelona was a pertinent choice for this years' Eurofinance event, given the plight of the Spanish economy. Treasurers are sleeping slightly more easily these days, but the stark reminder of the frailty of the global economy provided a backdrop throughout the first day of the event, as the US government remained shut down and looked poised to miss the cut-off point to raise its debt ceiling, causing many in attendance to watch nervously how the dollar price might fluctuate (this subsequently did not happen courtesy of a last minute agreement). There was also another reminder closer to home, with the suggestion from one speaker that Catalonia's ongoing push for independence was being undermined by the €50 billion+ debt hanging over it. The theme of the conference was 'taking the long view', but in truth, given the existing economic uncertainty, the attention was very much focused on...continues (login/subscribe).