Press Releases

H.E. Abdul Aziz Al Ghurair highlights growing role of Dubai as global hub for trade and finance in speech at Sibos In his opening address for the dedicated Middle East & Africa day at Sibos, His Excellency showcased UAE’s stability, economic growth, world class infrastructure and robust financial centre Dubai, 19 September 2013  – The Middle East & Africa day …

Dubai, September 18th, 2013 SOCIETE GENERALE EXTENDS AVAILABILITY OF SWIFT’S 3SKEY TO 90 COUNTRIES ON SOGECASH WEB The Global Transaction Banking division at Societe Generale announced today that it has made SWIFT’s digital identity solution, 3SKey, available in 90 countries on its international cash management web portal, Sogecash Web. 3Skey, which was originally implemented in 2010 for payments requiring personal …

Providing financial data integration layer to ease connectivity between financial institutions and their corporate customers LONDON, DUBAI, 18 September, 2013 – Volante Technologies, a global leader in the provision of innovative financial data integration, today announced an OEM agreement with SAP, a market leader in enterprise software and software-related services. The agreement relates to the new cloud-based service, SAP® Financial …

Dubai, September 17th, 2013 SOCIETE GENERALE AWARDED ‘BEST TREASURY SERVICES IN EUROPE’ AND ‘BEST CASH MANAGEMENT SERVICES IN EUROPE’ BY EMEA FINANCE The Global Transaction Banking division at Societe Generale (SG GTB) has been awarded ‘Best Treasury Services’ and ‘Best Cash Management Services in Europe’ by EMEA Finance magazine*. Through these awards, EMEA Finance recognises excellence and leadership in transactional …

SWIFT-sponsored research identifies opportunity for Dubai to become the financial hub for Middle East and Whole of Africa. However, further work is needed to improve maturity of financial markets and financial infrastructure. Dubai, 17 September 2013 – Dubai, 17 September 2013 – CassBusinessSchool, part of City University London, today published a report entitled Dubai as an International Financial Centre: Threats …

Dubai Commodities Clearing Corporation to Host CCP12 Special General Meeting Bi-annual CCP12 meeting to take place in Dubai on 20th September 2013 Dubai, September 17, 2013: The Dubai Commodities Clearing Corporation (DCCC) will be hosting and sponsoring the CCP12 Special General Meeting on 20th September 2013, in Al Mas Towers, Dubai.  The DCCC, a wholly owned subsidiary of the Dubai …

National Bank of Fujairah launches Hong Kong subsidiary to enhance trade between the Middle East and Asia  Bank’s first overseas office to leverage longstanding partnership with Wells Fargo to facilitate cross-border flows     17th September 2013: National Bank of Fujairah (NBF) has announced the establishment of NBF Trade Services (HKG) Limited, a non-banking subsidiary based in Hong Kong that …

September 17, 2013 Bank of America Merrill Lynch Launches Accelerated Payments to Asia New Service Uses Smart Routing Technology; Improves Cash Concentration and Visibility by Reducing Delays Common to U.S. Dollar Payments in the Region; Removes Need to Hold Separate Accounts in Each Country of Clearing Bank of America Merrill Lynch today announced the launch of Accelerated Payments to Asia, …

Banks prioritise automation and efficiency in payments and trade finance to grow their transaction banking business  69 per cent cite operational inefficiencies as a barrier to growth in core businesses  Cross-border payments processing the top priority for investment globally  84 percent said that increasing payments processing efficiency was a top priority  56 per cent said streamlining …

 Misys launches Global Back Office to streamline operations and ensure bank-wide consistency Industry survey reveals potential cost savings of up to 50% from implementing a single back office system 16 September 2013 – Misys has unveiled Misys Global Back Office at Sibos in Dubai. Now available, this global component is part of Misys Capital Markets Fusion and centralises and consolidates …

Dubai and Paris, 18th September 2013 EBA CLEARING’s STEP2 platform passes the mark of 2 billion SEPA payments processed  STEP2 is at the heart of the SEPA volume ramp-up, witnessing strong traffic growth in Belgium, France, Germany, Ireland, Italy and the Netherlands EBA CLEARING and the STEP2 participants are fully focused on the final phase of the SEPA migration and on …

Dubai and Paris, 16th September 2013 Participants from six European countries take part in the MyBank E-mandate Pilot The MyBank E-Mandate solution will allow e-merchants, public institutions and utility companies across Europe to electronically collect SEPA Core Direct Debits The pilot will run from October 2013 until February 2014 EBA CLEARING announced today that five financial institutions, 11 major European …

Dubai and Paris, 16th September 2013 SWIFT and EBA CLEARING to launch revamped EURO1/STEP1 Directory New Directory version with enhanced functionality and usability will become available on 21st October 2013 EBA CLEARING and SWIFT announced today that the revamped version of the EURO1/STEP1 Directory will be launched on 21st October 2013. Over the past few months, EBA CLEARING has significantly enhanced the Directory in terms …

Dubai and Paris, 16th September 2013 Emirates NBD to join STEP1 payment service Third participant from the Middle East connecting to STEP1 EBA CLEARING announced today the formal application of Emirates NBD for connection to the STEP1 Service. Emirates NBD, one of the largest banking groups in the Middle East in terms of assets, will start sending and receiving STEP1 …

  69 percent cite operational inefficiencies as a barrier to growth in core businesses Cross-border payments processing the top priority for investment globally 84 percent said that increasing payments processing efficiency was a top priority 56 percent said streamlining the trade finance business was key to future growth APAC region has highest potential for corporate banking growth 16 September 2013 …

EastNets to kick off Sibos 2013 with two specialized sessions on FATCA and SEPA compliance     Two of the industry’s hot topics this year are covered by EastNets solutions September 16, 2013 EastNets, a leading global provider of compliance and payments solutions and services, has confirmed that it will be conducting two key sessions during this year’s Sibos, the world’s …