HSBC Global Trade and Receivables Finance (GTRF) business has deployed an industry-leading Anti-Money Laundering (AML) system and an automated sanctions checking system as part of its ongoing efforts to improve financial crime detection.

CoCoNet announced the launch of MULTIVERSA IFP Version 4.0. This is the next generation of its highly successful payment and cash management solution for banks’ corporate customers.

Banks that use the latest version of MULTIVERSA IFP will enjoy two main benefits. Firstly, they will be able to increase their corporate customers’ satisfaction by offering them an improved solution for payment and cash management services. Secondly, they will gain from improved processes and added customer care functionality.

Improved user experience

Salt Edge announced today that it now offers a simple solution which enables companies to get instant access to open banking channels in a compliant way, without having their own PSD2 licence.

MediConnect (the “Company”), the developer of a framework blockchain solution to trace and manage prescription medication, is pleased to announce that it has completed the workflow for the Proof-of-Concept (“PoC”) and has begun the integration of UK Meds, an online pharmacy and partner of MediConnect, to the MediConnect PoC platform. 

 FIME has joined the Berlin Group’s NextGenPSD2 Advisory Board, a pan-European technical standardization body. Additionally, FIME is participating in NISP, which supports the implementation of the NextGenPSD2 XS2A interface, as defined by Berlin Group and in compliance with PSD2.

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has announced that Manchester-based Voyager Alliance Credit Union has selected TCS BaNCS™ Cloud for Core Banking as the core platform for its digital transformation. The implementation also covers its associate entity, Retail Credit Union.

VERMEG, the banking and insurance software solutions specialist, announced that its state-of-the-art Securities and Custody solution “Megara” went live at Santander Securities Services Brazil (S3 Brazil) on July 2019. S3 Brazil will be serviced from VERMEG’s newly opened offices in Brazil.

VERMEG acts as a global partner for Santander Securities Services which uses VERMEG’s Megara post-trade processing software across multiple territories.

P20 has announced combating fraud and criminal transactions as the first major issue to be addressed at its global payments conference at Church House, Westminster, London on 3rd October 2019.

In the UK alone, unauthorised financial fraud losses across payment cards, remote banking and cheques totalled £844 million in 2018. In addition, over 80,000 incidents of authorised push payment scams were recorded in 2018, totalling gross losses of £354 million.

Signicat, a pioneer in trusted digital identity, today revealed that on average it takes consumers just 14 minutes and 20 seconds to abandon financial services applications. The findings, taken from Signicat’s Battle to On-board III report, show that financial institutions - including banks, insurers and credit card issuers - are losing more than half of their potential customers (55%) if applications take longer than this to complete.