Just to give more substance to my article, here are a few examples of real-life initiatives that validate the conepts expressed.
Currenxie: Hong Kong-based cross-border payments provider offering customers inventory and logistics financing based on their Amazon trading history.
Previse: U.K. software company that uses multiple supply chain transaction data points to create an independent score of the probability of an invoice ultimately being settled.
Standard Chartered Bank: The bank connects its clients with their buyers and suppliers by integrating financial, informational, and physical flows, including financing the supply chain as well as operating cash, receivables reconciliation, risk management, and FX.
25 Nov 2018 11:37 Read comment
Nice article but I suspect it breaches Finextra's rules that you should avoid any form of self-advertisement. Too much about BBVA here and there.
Strange that Finextra's editors have not intervened.
Kudos to what the bank is doing, and in some sense it provides clear examples and use cases. However it could have been written with less BBVA-centric verbage.
24 Mar 2018 08:08 Read comment
Want to read my 2013 post https://www.finextra.com/blogposting/7274/wall-street-systems-acquires-it2-beware-the-ion-black-hole
05 Feb 2018 19:57 Read comment
Skills management has become the number 1 priority for bank CIOs- and not only.
Banks must right now decide whether they want to have up-to-date skilled staff, or rely on outsourced resources to cover the gaps.
Running hackatons seems to be the solution today, but in the long-run this may deplete the bank’s internal skills as all the IP stays with the fintechs. Likewise, fintech hackaton participants must be wary whether their bank host is trying to “steal” ideas.
19 Aug 2017 09:18 Read comment
I welcome SWIFT’s strategy to become a global network and provide customers with a single gateway to connect to multiple instant payments systems.
SWIFT can become a reference for any other instant payments gateway and set the necessary standards to ensure seamless interoperability between platforms.
19 Aug 2017 09:09 Read comment
This article does not add anything new to the behavior banks are adopting in analyzing DLT solutions. Banking consortia like R3 and Swift have made clear their concerns about the readiness of blockchain-based applications to serve the needs of interbank transactions.
I very much welcome the attention dedicated to analyzing the shortcomings of the technology and look forward to deeper analysis and involvement of all parties in the value chain, corporations included.
26 May 2017 13:15 Read comment
I have have always anticipated that blockchain-based solutions will gain global uptake once corporate interests are taken into account. This initiative seems to go in that direction and it is very welcome.
26 May 2017 11:06 Read comment
What I find interesting of this announcement is the notion of an API created to connect the bank's back-office systems with the blockchain rails.
Unitl now banks were involved in creating their own blockchains and be the principal nodes of proprietary DLT networks. Cisti's approach seems to say: whichever blockchain you want to run on, you will still get my services through an API. That is, bank services on a blockchain.
23 May 2017 08:45 Read comment
Interesting to see that blockchain-based applications in the banking sector are being used also to secure paper-based payments. This means that blockchain solutions can be decoupled from ultra-innovative crypto payments rails and be utilized for more "old fashioned", yet still important, transactions.
06 May 2017 09:38 Read comment
The first reaction is that this is another nail in R3’s coffin, after the departure of other global players such as Goldman Sachs and Banco Santander. A deeper analysis suggests that banks choose to join consortia to learn the basics of blockchain and make the first steps. They subsequently prefer to go alone and run their own blockchain projects, avoiding the risk of “giving away” their intellectual property. This is a dangerous path: the evolution of blockchain-based solutions is going too fast, and it will not help having each bank running its own race. Of course competition is needed, but a solid foundation of common rules, standards, and technical guidelines are indispensable.
30 Apr 2017 11:02 Read comment
Transaction Banking
Financial Supply Chain
Treasury Management
Thad PetersonSenior Analyst at Aite Group
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