Sibos – fintech has gone mainstream

From BankNXT –

“Brett King reports from Sibos 2015 in Singapore, where he’s joined by Rashik Palmer (IBM) and Vic Dossey (Microsoft).”

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CIPS Is Out Of The Crib. How Fast Will It Grow?

From Global Finance -

“As expected it drew some media attention, with the familiar theme that the renminbi—which surpassed the Japanese yen to become the fourth-most traded currency in the world in August, according to SWIFT's RMB Tracker—will eventually overtake the US dollar as the dominant global currency.

The creation of a renminbi-dedicated cross-border clearing system is one pillar supporting the internationalization of the currency. The crucial one, however, is the opening of China’s capital account, a moving target that includes liberalization of the financial sector and cross-border investment flows.

Outside of China, innovation by financial institutions in developing risk management products to align with current and future renminbi demand will also facilitate the currency's growing use.”

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European Parliamentarians raise concerns about Swift data sharing

From Finextra –

“Members of the European Parliament are to debate Europol's refusal to divulge information about US access to Swift international payments data amid concerns that the agreement is trampling over the data protection rights of EU consumers.

In October 2013, European MEPs voted in favour of suspending the EU/US bank data sharing deal in response to the US National Security Agency's alleged tapping of messages transmitted over the Swift banking network.”

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SWIFT announces 10% rebate on 2014 messaging

From Finextra –

“SWIFT announces a 10 percent rebate on 2014 messaging fees which will return more than EUR 30 million to SWIFT users worldwide. The rebate will be paid in early March 2015.”

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