All articles by Anthony Tshibangu
Anthony Tshibangu
Fundtech signs deal for ACH implementation at US credit union
Fundtech has signed a deal with Corporate One Federal Credit Union in the US that will replace its current ACH system with that of Fundtechs. Corporate One Federal Credit Union will now provide its 800 members with Fundtechs CASHplus and Payplus-ACH, replacing the APEX-ACH platform that it currently uses The APEX-ACH platform is offered through US Central Federal Credit Union – the wholesale provider of financial services to the corporate network
UK: Newedge launches agency cash management platform
Newedge, a UK-based company which offer global multi-asset brokerage services, has launched an agency cash management (ACM) platform for the tri-party repurchase market Newedges new service will enable investors to enter into secured money market investments using the tri-party repo or repurchase mechanism The service was launched in response to increasing demand from institutions for a solution to the cash management challenges faced by companies both on the buy- and sell-side
UK city launches local currency with electronic and mobile payment feature
The UK city of Bristol has announced its plan to introduce its own currency – the Bristol Pound which will be printed in notes and traded electronically The Bristol pound will be the same value as sterling and use £1, £5 and £20 notes, enabling shoppers, traders and small businesses to buy or sell goods This is not the first time that a local currency has been introduced in the UK, but unlike other initiatives Bristol residents will benefit from the added feature of being able to make transactions using mobile phones
UK: 3 million missed credit card repayment last year
As many as 3 million Britons missed a credit card repayment last year, which could be detrimental to their credit profiles, according to an online survey conducted by price comparison website, MoneySupermarket.com. Kevin Mountford, head of banking at MoneySupermarket.com, said: “Our research shows there’s still a worrying number of people in the UK potentially damaging their credit rating by failing to pay their bills on time, with credit card bills being the most missed A late or missed payment on a credit card bill not only impacts your credit profile, but will also lead to the loss of promotional rates on the card, which can be a costly mistake.
MasterCard Europe appoints former VocaLink CEO to lead UK and Ireland
MasterCard said Kings role will focus on growth within the payments industry and creating a cashless society in the UK, highlighting the strategic importance of emerging technologies such as contactless and mobile I’m excited to be joining MasterCard to lead a key market at a time when our industry faces both great opportunities and challenges
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HSBC Kuwait starts RMB settlement service
HSBC Kuwait has launched an RMB clearing service which it said will allow Kuwaiti corporate and institutional clients to trade and settle payments in the Chinese currency offshore. HSBC Kuwait said its central treasury team in Kuwait will now manage RMB payments locally, so they can now pay an offshore supplier in RMB without an onshore presence in Hong Kong or China
Voice Commerce Group payment solutions arm joins SWIFT
Cashflows, the business payment solutions subsidiary for the Voice Commerce Group, has become a member of SWIFT By joining SWIFT, the company hopes to increase efficiency in sending payment instruction while increasing the reach of territories and currencies it can support The move will also work towards improving communication with banks via SWIFT free format messages while offering direct access to interbank transfer
Tajikistan: national processing centre goes live
Compass Plus will consolidate of the existing infrastructure of bank card acceptance in Tajikistan on a single national platform, as well as enable secure card operations in the country and support internet and mobile payment technologies Sharif Rahimzoda, chairman of the National Bank of Tajikistan, said: The main objective of the establishment of the National processing centre is to ensure an autonomous platform that does not depend on external payment systems for settlement and to minimize the risk of external factors influencing the payment infrastructure of Tajikistan.
VTB Bank grows treasury business with new contract
The implementation means that RosTek will be able to receive information on the state of its accounts instantly, along with the accounts of its subsidiaries, and remotely manage these accounts via electronic channels offered by VTB The system is designed to establish the efficient cash and account balance management for client and its diversified branch network, allowing RosTek to control its external and internal cash flows and achieve a decent level of return on cash balances
eProcessing Network implements TSYS payment platform
The US-based payment gateway company will offer the merchant Level 3 Enhanced Data Processing to its SME clients as a way to reduce the cost of processing payments of purchase orders and invoices eProcessing said that by using Level 3 Card Processing, businesses can accept b2b payments and qualify for the lowest interchange rates available, allowing them to meet the requirements of corporate customers