Victory for the Brexit Party at the European elections is set to have uncertain ramifications for pound sterling. Meanwhile, treasurers in the UK are bracing for a slowdown after a stockpiling binge.
News that one of the world’s biggest banks – JP Morgan – has moved into digital currency may have sent a ripple through corporates, but treasurers will have to wait to use it
HSBC and BNP Paribas are behind a blockchain-enabled letter of credit for a bulk shipment of iron ore between Australia and China, cutting a two-day process down to two hours
Some of the world’s top companies – also including Roche, GE and others – join Swift’s global payment initiative pilot. But whether other “Swift corporates” will be able to go GPI-active remains to be seen.
While today's technology makes it possible to process payments instantly, deep-rooted issues such as reconciliation, AML, compliance and FX seriously hamper banks’ abilities to evolve.