“CoCo” bonds may exacerbate crises, finds study
Economists at two leading German universities have warned that contingent convertible bonds, often issued to try and mitigate damage in a crisis, could actually make things worse.
Technology & Products
Snapchat launches new money transfer feature
The instant messaging and photo sharing app Snapchat has teamed up with payment processing company Square to allow users to send each other money.
US in need of payments overhaul, says the Fed
The US Federal Reserve system is working with banks, corporates, merchants and consumers to drive forward a new plan to overhaul the country’s payment infrastructure and speed up payments.
MasterCard to buy TNS payment service
Siris Capital-owned Transaction Network Services (TNS) has revealed that it has agreed to sell its Payment Gateway Services business to MasterCard.
Forex firm Moneycorp sees 50% surge in profits
Rapid growth in Moneycorp’s retail division saw half-year profits rise by 50%, the foreign exchange company said yesterday.
LG to overhaul Korea’s online payments industry
South Korea may be a technology powerhouse, but where online payments are concerned, it has lagged behind due to draconian authentication methods. All that is about to change.
US Bank launches mobile app for corporate clients
US Bank Corporate Travel and Purchasing card clients can now retrieve account information on the go with the new US Bank Access® Online Mobile app.
Lloyds to axe 10% of workforce
The UK’s largest high street lender is to cut 9,000 jobs as it racks up automation of customer-facing services.
RBS launches one-form signup for corporate banking clients
The Royal Bank of Scotland has launched an Accelerated Onboarding Service that aims to dramatically cut the sign-up time needed for corporate banking clients in 23 countries.
Treasurers dissatisfied with ePayments solutions
Only 9% of corporate treasurers are satisfied with their ePayment solutions, according to research, leaving banks vulnerable to loss of custom.
