No stone is left unturned in the continuous pursuit of excellence in Swiss payments processing. The financial center is promoting ISO 20022 as the “lingua franca” for extensive harmonization activities that go far beyond interbank transactions.
The recently revamped Swiss RTGS system SIC enables innovative, standardized and efficient payment solutions in the customer-bank sector. This makes Switzerland the only country so far to count on end-to-end adoption of the ISO 20022 standard, thus affecting all households and businesses.
With harmonizing credit transfers, direct debits, notifications, account statements, and replacing all payment slips by their new QR-bill, the Swiss financial industry is simplifying interoperability via various interfaces, end-devices and mobile apps. This is a major step towards digitization and automation – not just in banking and finance, but across the Swiss economy as a whole.
Through its new Advanced Tax Services – Reclaim, SIX Securities Services has created a solution for Switzerland’s banks and investors to overcome the complex, country-specific and opaque processes that currently define reclaiming withholding taxes. Read full article
On Tuesday afternoon, a panel will explore whether the post-trade world can move beyond the search for scale. Global Custodian spoke to Thomas Zeeb, CEO, SIX Securities Services, one of the panellists. Read full article
In spring 2016, SIX Interbank Clearing was the first market infrastructure which completely moved to ISO 20022. The next big milestone is the migration of the Swiss banks to ISO 20022. Read full article
SIX Securities Services tops all ICSD categories in Global Custodian’s Agent Banks in Major Markets Survey for 2017. Read full article
SIX Securities Services tops eight out of 10 categories (80%) in Global Custodian’s annual Agent Banks in Major Markets Survey, placing it as the best Swiss Custodian. Read full article
As of 2020, SWIFT – the global financial messaging network – will only allow structured ordering and beneficiary data for payments. Unstructured addresses will no longer be possible. What is the industry to do?. Read full article
New research reveals that 85% of financial institutions believe that up to 40% of all over-the-counter derivative transactions are not collateralised. Read full article
According to the latest survey conducted by SIX Securities Services, over half of organisations (53%) questioned believe plans for a Capital Markets Union (“CMU”) will speed up in the wake of Brexit. Read full article
Findings from a pan-European research study indicates that the two groups fail to see eye-to-eye on issues such as the price of collateral, HQLA-shortfall and future challenges for the collateral management industry. Read full article
New research from SIX Securities Services reveals the importance of real-time settlement when it comes to choosing a new collateral management provider. Four in ten (40%) respondents report that their organisation has replaced or added a new collateral management provider in the last 18 months with a further 18% in the process of doing so. Read full article
Artificial Intelligence (AI) is rapidly becoming an integral part of client experience across a range of industries – some experts estimate that AI will have surpassed human intelligence by 2019! In our day-to-day lives we no longer think twice about trusting a bot to help us through a software installation and it has become second nature now to use voice commands for searches, ask about the weather, set calendar appointments and even buy pizzas. But what about the financial industry – and especially the post-trade industry? Are we ready for this change? Here’s what SIX Securities Services is doing in response to this prediction. Read full article
No stone is left unturned in the continuous pursuit of excellence in Swiss payments processing. The financial center is promoting ISO 20022 as the “lingua franca” for extensive harmonization activities that go far beyond interbank transactions. Read full article
The worldwide banking and financial crisis was part of the global economic crisis that began with the US real estate crisis in the summer of 2007. Read full article