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Self liquidating loan example

The Payment Services Directive 2 and the UK’s Open Banking regulations, which both become effective in January 2018, may be driving adoption of open APIs in Europe, but many across the world are beginning to appreciate the impact they will have on th e future of transaction banking.

Likewise, many banks are experimenting with blockchain, or distributed ledger technology.

The transaction banking business may be undergoing dramatic disruption but the financial institutions active in this space are rising to the challenge and taking advantage of the opportunity to transform their banking business The transaction banking business is undergoing dramatic disruption, driven by fast-changing technology and customer behaviour.

It also faces persistent headwinds including low interest rates, increasing regulatory scrutiny and reduced margins.

They are learning from their fintech partners and using agile development and design thinking methodologies, which has the added effect of fostering a faster pace of change within the incumbents.

Impressively, many banks are seeing the value in co-creating with their clients and are developing bespoke solutions, especially at the regional level.

The fact that it has emerged as one of the winners post-RBS withdrawal – notwithstanding the absence of a formal referral programme – has further demonstrated ING’s strength in cash management.”Over the past year, ING has focused much of its efforts in driving forward innovation in its home market of western Europe, which is the reason it picked up the regional award.

Self liquidating loan example

For example, the bank has implemented real end-of-day cross-border cash balancing in the region, as the shift from notional pooling to physical cash concentration accelerated over the past year, driven by regulatory pressure.

As one judge says: “ING has achieved very strong growth in cash management despite operating in one of the most challenging markets – western Europe.

Its clear business strategy and client-oriented product offerings have attracted numerous clients.

Aggregation services and transaction detail services are available in most western European countries and the bank is rapidly expanding these services into other ING countries.

As proof of its desire to reinvent itself, ING is currently partnered with more than 90 start-up fintechs dedicated to creating innovative solutions for banking needs, such as money management, payments, lending and mobile on-boarding.

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