This is the link to the blog post that I promised: https://www.finextra.com/blogs/fullblog.aspx?blogid=9131
Enrico
20 Mar 2014 13:44 Read comment
When I wrote my comment to a previous announcement about the KYC registry I did not want to do the bird of ill omen to SWIFT although all planets seem aligning to put the bank cooperative into a corner.
I will be elaborating this thought in a blog post soon to be published here on Finextra.
20 Mar 2014 11:42 Read comment
In the interest of banks and of corporate clients, SWIFT and KYC Exchange are still in time to avoid harmful and unnecessary fierce competition. Both are focusing to develop a global KYC repository and if they do it right they will create the best conditions for true collaboration, bringing value to all parties involved: Themselves, banks, and banks’ corporate clients.
If SWIFT only would refrain from the temptation to act as a software house and instead stick to its core values (i.e., “act as the catalyst that brings the financial community together to work collaboratively to shape market practice, define standards and consider solutions to issues of mutual interest”- source: www.swift.com) they could provide the necessary guidelines, criteria, and datasets that KYC Exchange would then implement into software applications.
Collaboration between SWIFT and KYC Exchange along the suggested lines is the only factual way I anticipate can turn into real value the proposition of a global KYC Registry as recently announced by SWIFT.
17 Jan 2014 19:03 Read comment
My very brief tweet is that this SEPA migration deadline extension sounds like an evident failure for banks. When working on SEPA they hardly ever answered the question: What's in it for my clients? Now clients are asking again and nobody has answered yet.
09 Jan 2014 14:08 Read comment
This is indeed good news. It should also resolve one of the issues I anticipated my "Why is Supply Chain Finance so Slow to Grow?" blog post.
07 Jan 2014 09:56 Read comment
I am just wondering how long it will take before this feature is made possible also in the B2B space. The opportunities are huge and I am looking forward to seeing next steps in the corporate-to-bank marketplace.
11 Dec 2013 15:13 Read comment
Excellent food for thought, Chris. After reading your post it looks like today the industry has to play tricks to trade...
01 Nov 2013 04:49 Read comment
This is an update to my previous post.
At Eurofinance 2013 Sanjay Chikarmane- SVP & General Manager, Global Technology Solutions at SAP- explained to me SAP's view on the respective roles that SAP FSN and Ariba Network will play: Ariba Network will connect businesses allowing them to exchange data for B2B relationships. SAP FSN will take care of connecting the corporate side with banks to transact payments instructions and messages.
Both systems will co-exist to cover the physical (i.e, Ariba Network) and the financial (i.e, SAP FSN) chains of interconnected companies. The illustration in http://www.slideshare.net/tcameri/sap-ariba-integration-model should further help visualize SAP’s strategy.
My comment: The conversation with Sanjay was very useful as it validated initial predictions of what the Ariba and SAP systems were supposed to deliver. That the two systems will co-exist to cover different portions of a company’s value chain also explains why they are managed as independent entities. There is however no official public position from SAP on this matter as the full strategy is still “under construction” and will be made available in 2014.
I would recommend instead SAP to adopt a more courageous approach and illustrate its plans for the integration without any further ado.
31 Oct 2013 18:01 Read comment
This looks like another nail in the coffin of those banks that cannot transform the way they lend to companies. By doing so these banks will lose the (apparently risky) SME market completely.
25 Oct 2013 17:10 Read comment
Chris, you make very valid points. I would like to add that what corporates want is not necessarily what the treasurer (or CFO) wants. Corporations are complex organisms and other constituents play a relevant role, if not as final decision makers for the kind of solution to adopt at least as strong influencers: the Procurement Officer, the Supply Chain Manager, the Sales manager, and the CIO. I expect Transaction Banking Suites to also cater to the needs of these corporate executives as much as to the "usual suspects",i.e., the treasurer and the CFO.
11 Oct 2013 07:54 Read comment
Transaction Banking
Financial Supply Chain
Treasury Management
Thad PetersonSenior Analyst at Aite Group
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