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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
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Also in the News
A round-up of recent appointments and departures within the industry. New hires at Avaloq, Co-operative Bank, Fiserv and Misys among others. Departures form Deutsche Deutsche Börse, NYSE Technologies and Sungard Financial Systems.
The subject of standards had its own stream at Sibos this year, with ISO 20022 the most discussed topic. IBS attended to hear what it's all about.
Keeping ISO 20022 high up the agenda of market players will remain an important task for its proponents for years to come. Educational events such as the Standards Forum at the recent Sibos event in Dubai are a key part of this process, even if they are inevitably attended by the most receptive audiences. Other recent efforts include the publication of 'ISO 20022 for Dummies', which can be downloaded in PDF format from the official website, and the Adoption Mapp available on iTunes.
IBS attended a session at the Standards Forum of Sibos in Dubai, sponsored by the Payments Market Practice Group (PMPG). This was exploring the issue of interoperability and how it will affect the adoption of the ISO 20022 standard, although it also served to...continues (login/subscribe).
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.