To be ready for the move to real-time everything, transaction banks need to modernise their plumbing, re-engineer their core processes and harmonise their data flows, as well as bring their corporate and SME clients on the journey with them.

No longer content to sit on the sidelines of the Bank of England’s digital currency experiments, Project New Era plans to launch a private sector consortium for a real-world ‘dSterling’ pilot.

The war for talent has never been greater, as many people have reassessed their lives and work during the Covid-19 pandemic. Transaction banking’s digital transformation, as well as its role in supporting the real economy, may give the industry an edge in attracting and retaining staff.

It is not possible to manage climate risk without looking at nature, argues David Craig, co-chair of the Taskforce on Nature-related Financial Disclosures.

Proponents expect the Pan-African Payment and Settlement System to drive intra-continental trade and investment, supporting the aims of the continental free trade agreement.

The survey results underpinning the WEF’s Global Risks Report 2022 paint a bleak picture for the global recovery, with just one in six international business leaders feeling positive about the outlook for the world. 

Penalties that financial institutions incurred for non-compliance with anti-money laundering and data privacy regulations have dropped significantly in 2021. However, there is still much work to be done to stem financial crime.