Tag: westpac

Nathan Goonan will replace Michael Rowland at Westpac, with Shaun Dooley set to step in as acting CFO at NAB.

CEO apologizes and says lender has recruited 200 staff to fight crime. The bank is now set to increase provisions by a further A$404 mln on top of a A$900 mln charge already taken.

Australia’s second-largest bank lost its CEO earlier today after a cross-border transaction service was alleged to have broken anti-money laundering rules.

The corporate treasuries of a range of large Australian businesses can now take advantage of the country’s first cloud-based e-procurement platform.

Lowering international payment costs in line with the huge flows from e-commerce is vital, says Westpac. Being AML and KYC compliant equally so.

Dianne Challenor has resigned as head of treasury services, Asia Pacific, to return to her native Australia.

The advent of digital technology is an important source of growth for national economies. It creates more jobs and is reshaping traditional industries and transforming all sectors, from fashion to automotive, from transport and logistics to energy distribution.

Banks have been experimenting with Ripple’s technology, which could make payments far more efficient, but a recent report questions whether it can handle larger volumes.

BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.

Bolero and essDOCS inked their first deals on India trade and bank payment obligations (BPO), breaking new ground for the normalisation of electronic trade documents.

The world’s largest commodity traders are spearheading a move to electronic trade presentation.

A newly completed electronic letter of credit over essDocs slashed document processing times, in both beneficiary and advising banks, as well as corporates.