Although 73 percent of respondents to a recent Reval survey of more than 200 finance professionals report that they have already centralized control in payments management, 70 percent indicate they will centralize further in 2015. Reval, the leading global provider of a scalable cloud platform for Treasury and Risk Management (TRM), conducted the survey in the first quarter of 2015 to financial professionals in EMEA, North America and APAC.

“Over the past years, many treasuries have moved to central payment structures to reduce idle cash and prevent fraud," says Günther Peer, Vice President at Reval. "While laggards are still struggling with cash visibility, pioneers are already implementing more sophisticated concepts like payment factories or in-house banks. That´s where the big savings are."

According to the Reval survey, finance professionals feel they could significantly reduce transaction costs and bank fees by further centralizing payments management. More advanced technology is necessary to realize these savings, and according to the survey, every second treasury is planning to invest in its payment IT infrastructure over the next 12 months. "Cloud-based treasury systems can help centralization of payments management and increase visibility and efficiency," says Peer. 

For more information, download the Slide Deck "The Big Push to Centralize Payments"

INDATA, a leading industry provider of software and services for buy-side firms, today announced that Palo Capital, an investment advisor based in Newport Beach, CA, has selected INDATA’s iPM EpicÒ platform for their front-to-back office needs.

The industry’s first investment management platform specifically designed for the era of big data, INDATA’s iPM Epic system was selected over competing systems because of the strength of its portfolio modeling, reconciliation and compliance capabilities, especially the system’s ability to capture a complete audit trail of all investment and operational events.

As a front-to-back office client, Palo Capital will be using the iPM Epic system on a fully integrated basis for a range of functions including portfolio accounting, performance, reporting, billing, automated reconciliation, portfolio modeling, trade order management and fully integrated compliance (pre-trade, post-trade, and real-time).

“Investment firms are increasingly not only looking to streamline their investment processes, but also their data management capabilities, and with a multitude of different regulatory bodies and jurisdictions around the world all requiring different information, it is also becoming essential to have a system which can harmonize data flows both internally and externally,” commented David J. Csiki, President, INDATA. “Our iPM Epic solution will help provide a streamlined process to Palo Capital and we are pleased to have been selected as their enterprise investment management system.”

 At a ceremony here this month, Reval accepted awards alongside clients Cigna and eBay, which were highly commended for Harnessing the Power of Technology and Best Risk Management Solution, respectively. For Reval, recognition with Treasury Today magazine’s Adam Smith Awards follows a win earlier this year for Best Corporate Risk Management Solution in Global Finance magazine’s 2015 Best Treasury and Cash Management Providers awards.

“Cigna is honored to have received the Adam Smith technology award for our global transformation project,” says Scott Lambert, Treasury Senior Director in Cigna’s Treasury Department, which is using capabilities from across the full spectrum of treasury and risk management functionality on the Reval Cloud Platform. “We wanted to leverage software-as-a-service technology as much as possible to more easily standardize everyone on the same platform, share data, and achieve visibility and control. When we looked to automate a standard process for cash forecasting, we felt the dynamic cash flow forecasting capabilities enabled us to save time and lower idle cash.”

eBay’s collaboration with Reval helped shape the industry’s best practice reporting for EMIR compliance. “The sheer volume of trades and the related details that needed to be reported would have made gathering the necessary information a daunting task,“ says Debdatta Banerjee, Senior Manager of eBay’s Treasury Operations and Controls. “If we had not leveraged the foreign exchange capabilities we already had in place with Reval, the task would have been insurmountable. We are happy that the industry recognizes our accomplishments and that other companies will benefit from the EMIR capabilities we developed with Reval.”  

Finance professionals can read more details about the award-winning projects in Treasury Today’s upcoming Adam Smith Award Yearbook, which will be published mid-July. According to Treasury Today, 210 entries were received from companies of various sizes and industries across 23 countries. Judges sought companies demonstrating innovation, creativity, outstanding insight, thinking 'outside the box' and real business impact. 

“We are thrilled for Cigna and eBay and appreciate the acknowledgement of their work to advance the industry,” says Reval´s Chief Marketing Officer and EVP of Corporate Strategy Justin Brimfield. “Reval remains dedicated to helping corporate treasuries tackle their challenges, especially as it benefits the entire community of users on the Reval Cloud Platform.”

Standardization of banking supervision is driving change across the banking industry globally, especially standardization in financial reporting, measurement and management. These initiatives have been steadily expanding the regulatory burden on banks and increasing the cost of regulatory compliance. The Ardmore Banking Advisors and Fintellix alliance was created to address the need for a comprehensive solution that can help community banks more easily manage their regulatory compliance matters, and enable bank management to focus on business growth and profitability.

Since 2006, Fintellix has been providing software solutions based on next generation technology to help progressive banks across Asia, Europe, Middle East and Africa leverage their data to enable growth and automate regulatory compliance. Fintellix has emerged as a global banking regulation expert having enabled regulatory compliance transformation for over 30 banks in 12 countries and 4 continents, including the overseas operations of 2 top US banks.

For over 25 years, Ardmore Banking Advisors (“Ardmore”) has assisted hundreds of community banks through the delivery of credit review, strategic and risk consulting, and more recently stress testing, credit portfolio management and ALLL methodology. Ardmore’s founder and leadership team have previously served at the executive level in leading community banks and are deeply committed to helping strengthen the community banking system.

The Fintellix - Ardmore partnership is a unique ‘global/local’ alliance that combines global expertise, local experience, and next generation solutions to lower the cost of compliance for community banks. Through this alliance, Ardmore offers to community banks a CECL-ready ALLL solution powered by a comprehensive credit data warehouse as Software as a Service (SaaS). Ardmore’s seasoned credit professionals ensure that the ALLL solution is tailored for each bank’s specific needs and business model.

Anup Pai, COO of Fintellix comments: "In today’s globalized world, small banks can learn from the experience of larger banks as well as those in other geographies who have already complied with guidelines they are currently faced with. Such adoption of best practices has enabled our customers to reduce the cost of compliance by over 50%. We understand that only global expertise is not enough – a deep understanding of how banking is conducted locally is very important. We are very pleased to partner with Ardmore Banking Advisors – a blue-chip expert in solutions for community banks, to provide this local expertise."

TA (“Sandy”) Spratt, founder & CEO of Ardmore Banking Advisors added: “Our guiding principle has always been to provide value for our clients through long term customer relationships. We’ve invested almost a year to assist Fintellix to ensure their solution is a good fit for US community banks. What impressed us was Fintellix’s depth of experience and forward thinking that enables collaboration between credit and finance in the ALLL process. We are enthusiastic about how this advanced solution will assist the community banking market.”

Diasoft is pleased to invite Vietnamese financial institutions to attend its business-breakfast “An Introduction to the Digital Banking” which will take place on 30 June 2015 in HoChiMinh City, at Intercontinental Asiana Saigon hotel and on 2d July 2015 in Hanoi, at Intercontinental Hanoi Westlake hotel.

This year, featuring the theme “Digital Banking”, Diasoft hopes to bring in the latest insights that enable audience to stay on top of current development, update technology solutions to enjoy higher satisfaction and loyalty from customers while improving scalability and agility in banking system.

The Business-Breakfast will focus on the following topics:

• Overview of the banking sector: key challenges and opportunities;
• Leveraging key technology trends to drive banking innovations in 2015;
• Digitalization – a move towards customer centricity;
• Requirements to the Modern Digital Banking Platform.

Digital banking has been in the air for years. Despite the fact that the majority of financial institutions did their best to adopt a very strong development focus on improved customer experience and more efficient servicing capabilities; however, most banks still don`t keep up with the customers' expectation  for a new banking experience with anytime and anywhere services, quick response times, online consultations and other.  As a result, currently there exists a huge gap between customers` expectations and banks` existing offerings that needs to be filled.

During our Business-Breakfast, Tamara Kulchaeva, Head of Solution Consultancy at Diasoft, will highlight the key trends that drive banking innovations and requirements to the modern digital banking platform.

Meet Diasoft at our business-breakfast to learn what benefits Digitalization can bring to your company.

About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

The FLEXTERA’s functional scope covers the following areas of financial business:

• Back Office and Core Insurance/Banking operations including daily banking transactions processing; product and service management; BI, accounting and reporting;
• Multichannel Front Office operations and client management;
• Middle Office risk management and decision making.

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and clients’ requirements.

For registration send your request at info@diasoft.com