The bank's business customers were unable to pay their overseas suppliers, with hundreds of thousands of pounds worth of transactions being delayed. The spokeswoman was unable to give specific details about the nature of the problems.
Egg, the online financial services arm of the Prudential, is touting a fraud protection guarantee as a way to encourage online transactions using its new credit card. Barclaycard, the UK's largest card issuer, felt it necessary to issue a response...
The new product, called BizTalk Accelerator for Financial Services, is a component of Microsoft BizTalk Server, software designed to help companies link different computing systems together to share data and conduct transactions.
The volume of reported suspicious transactions is such that the only those of the most suspicious nature, are followed-up. Although not yet officially published, it has emerged that changes to wording of the Money Laundering Regulations 2003...
Eighty per cent of respondents said they have electronic data interchange (EDI) or internet-based systems for automated transactions but claimed complexities have limited their actual use. Another issue is the degree to which customers or suppliers...
On the downside however, this can mean far less scrutiny of large, atypical transactions and operations staff having to use multiple business applications to fulfil their role. Straight-thru-processing (STP) allows an investment bank to process...
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