Since the launch of the first SWIFT RMB Tracker in November 2011, the RMB has shown stellar growth for payments, whilst RMB usage by value in traditional trade finance – letters of credit and collections – has been decreasing since 2014. The Chinese currency is now the third-most-active currency in trade finance, after the euro, with a share of 4.61%. Three years ago, the RMB was ranked #2 in trade finance with a share of 8.66%. Since October 2013, the trade finance values in RMB have decreased by 66%, whilst trade finance across all currencies decreased in value by 35%.

For the past decade, governments around the world have established international anti-money laundering (AML) and counter-terrorist financing efforts in an effort to shut down the cross-border flow of funds to criminal and terrorist organizations.

Financial crimes are becoming increasingly adroit in taking advantage of the bank’s data, systems and operations.

Marcus & Millichap  today announced the launch of its next generation proprietary brokerage tool, MNet-Offering, a web-based application designed to support sales agents in the most efficient creation of electronic and print materials, notably, offering memorandums and asset valuations that are critical to help clients in the investment decision-making process.

FirstBank Holding Company, the holding company for Colorado’s second largest bank, announced that longtime Denver civil-servant Elbra Wedgeworth is joining the company’s Board of Directors.

Wedgeworth, who is the Chief Government and Community Relations Officer at Denver Health, has held several civic positions in all three branches of city government, including: City Council, Auditor’s Office and Mayor’s Office. Her appointment to FirstBank’s Board of Directors will be effective Jan. 1, 2017.

An interesting week as R3 goes through restructuring.   Santander and Goldman Sachs leave and the Monetary Authority of Singapore, a regulator, join.  Interesting.

Lately Latvia has taken important steps in combatting money laundering by the actions of the Financial and Capital Market Commission (the Commission) to increase standards for control. Following a recent audit by the Latvian Commission, Swedbank has committed to implementing a series of further actions in order to mitigate identified deficiencies.

During spring of 2016, the Commission carried out an inspection related to the effectiveness of Swedbank’s internal control systems for the prevention of money laundering in Latvia.

Workiva , a leading provider of enterprise cloud solutions for improving productivity, accountability and insight into business data, announces that Shopify saves time by using the Wdesk platform to manage internal controls over financial reporting as required by the Sarbanes-Oxley Act (SOX).

Valley Economic Development Center, also known as VEDC, is one of 12 Community Development Financial Institutions (CDFIs) to receive funds from the 

The launch ensures the KashFlow app works on more than 400 million devices running on Windows 10, from traditional desktops to tablets, mobiles and any other devices with access to the Windows Store. Businesses and their accountants can now enjoy a seamless experience, starting their bookkeeping on their laptop before finalising tasks on their mobile while commuting to a meeting.
 
Steve Cox, product director at IRIS Software, believes the partnership with Microsoft will help UK SMEs take one step closer to HMRC’s Making Tax Digital mandate.