The challenge of identifying ultimate beneficial ownership is becoming an increasingly complex process that remains crucial for mitigating counterparty risk. Tom Golding of Accuity examines the current state of play and explains what can be done to ease the burden placed on compliance officers.
Latest articles from Transactions & Technology
Corporate StatementJuly 12, 2016
The move to real-time payment systems is gaining momentum across the globe and raises the prospect of instant cross-border payments. New players are also helping to redefine the payments ecosystem, as Joy Macknight reports.
A surge of new entrants in the financial services arena has forced incumbent providers to react. After the initial apprehension has dissipated, how are transaction banks engaging with this disruptive influence? Joy Macknight reports.
In May, the UK’s Financial Conduct Authority opened the world’s first ‘safe space’ for testing new technology and business models. Christopher Woolard, director of strategy and competition at the FCA, tells Joy Macknight how it works.
The potential of blockchain to transform traditional banking processes has generated much enthusiasm over the past year. Deutsche Bank’s Paula Roels, head of market infrastructure and industry initiatives, and Bradley Lonnen, market management, institutional cash management, look at the current state of play around adoption, and blockchain’s applicability to correspondent banking.
Cybercrime is not a new threat but the attacks and ‘precise targeting’ by fraudulent parties are becoming more sophisticated. Marcus Sehr, global head of client management and sales for institutional cash management at Deutsche Bank, highlights the seriousness of cyberfraud and the need to foster awareness, and outlines the steps the banking community should take to defend the financial system’s integrity.
The retail payments space has witnessed a great deal of innovation over the past few years. To date, this has not been matched on the wholesale side. Christian Westerhaus, global head of product and strategy, institutional cash management, at Deutsche Bank looks at how developments on the domestic retail side are influencing client expectations in wholesale payments and assesses the steps the industry is taking to enhance the cross-border payments experience.
The culture of informal work is a topic that Peru’s new president, Pedro Pablo Kuczynski, is promising to tackle, and which banks are already addressing through financial inclusion initiatives such as the creation of a pioneering, sector-wide e-wallet. Silvia Pavoni investigates its potential to ease one of the country's main pressure points.