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Articles by Dominic Broom
Embracing Digital Supply Chain Tools
EACT Breakout Session This session emphasised the importance of digitalisation, and the need to overcome any fears of adopting new technologies. It was stated that the primary objective of implementing technologies in this context is to enhance efficiency, optimise supply chains, and expedite cash conversion cycles. Practical case studies were used to demonstrate the value of a gradual approach to digitalisation.
VIDEO | Securing trade’s digital future: Dominic Broom on the rise of digital documents and security challenges
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All Change?
Innovation in Trade Finance With the fallout from the global pandemic, geopolitical tensions, and soaring inflation and interest rates, the international trade and SCF ecosystem has faced a torrid few years. The good news is that certain new technologies and innovations from fintechs and banks, combined with legal progress, promise more efficient and cost-effective trade finance for corporates and their suppliers.
Gearing Up for a Digital-First Financial Future: Create Faster, Frictionless, AI-Led Experiences
The challenge facing the financial industry is how to adapt, evolve, and compete in a world where traditional financial systems and practices are no longer adequate. Disruptions in the form of new technology, regulatory pressure, and rising interest rates are forcing companies to rethink their strategies. It’s a future that’s both exciting and daunting, where digital transformation is more critical than ever. In fact, global IT spending is expected to increase by 8% in 2024.
Combating Money Mule Activity: FCA's Comprehensive Review and Recommendations
Francesco Fulcoli – Chief Compliance Officer and Board Member at TransferGo The Financial Conduct Authority recently conducted an extensive review of payment account providers' systems and controls against money mule activity, shedding light on both positive practices and areas that require enhancement. Money mules have emerged as a crucial component of fraudulent schemes, enabling criminals to launder the proceeds of their illegal activities.
Deep Dive: Payments in Uzbekistan
News in your inbox For Finextra's free daily newsletter, breaking news and flashes and weekly job board. Channels External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Financial technology, commonly known as fintech, has revolutionized the way we handle financial transactions and manage our money.
Cheaper, Faster and Sustainable: Digital Trading Goes Live | Treasury Management International
In the ever-evolving landscape of corporate finance, the Electronic Trade Documents Act 2023, which received Royal Assent in July and will be in operation from September 20, stands as a monumental milestone, poised to reshape the way corporate treasurers manage financial transactions.
10 Reasons to Adopt Digital Trade Instruments | Treasury Management International
The digitalisation of global trade is well underway, opening the door to more innovative, accessible trade finance solutions, and supporting trade and business growth around the world. The opportunity to leverage these digital capabilities could not be better timed. The maelstrom of challenges that global trade participants continue to face has resulted in extreme uncertainty and volatility.
An era of digital trade
The COVID-19 pandemic has resulted in a significant slump in global trade volumes in 2020, with the latest World Trade Organisation (WTO) forecast estimating that global merchandise trade will shrink by 9.2% year-on-year. If there is any silver lining to the crisis, however, it is that it has accelerated the adoption of digital trade processes and raised the profile of digital innovators within the industry.
Expert briefing: Financial education - train hard to fight easy_FV
Expert briefing: Financial education - train hard to fight easy Professional training and education are designed to concentrate minds. Doctors need to be able to diagnose and treat diseases. Engineers are tasked with designing brakes that work. Bankers have to be prudent, flexible and trustworthy in dealing with other people’s money. In trade finance that means getting trade documentation right, operating in a global environment and serving each individual client effectively.
The Future is Fintech
As new payment capabilities come to the fore, innovative technology is transforming how we initiate and process transactions. So concludes BNY Mellon’s pioneering new report, Innovation in Payments: The Future is Fintech, which is launched at Sibos 2015.
Making Corporate Cash Work Harder
Dominic Broom, Head of Sales and Relationship Management for BNY Mellon Treasury Services, EMEA, and Gerry Barber, Managing Director, Strategic Development and Investment Management Group, BNY Mellon That high yields are no longer a valid justification for cash and liquidity management inefficiencies is just one of the indications of a shift in corporate attitudes to cash and liquidity management.
Forging a Path to the Future of Payments
Forging a Path to the Future of Payments The payments environment in 2020 will look considerably different from that which we know today. Although change is multifaceted, a number of key factors are responsible, and the speed and extent to which they are altering the payments business is expected to gather momentum. The global payments business is being significantly and rapidly reshaped by a number of market forces and developments.
A New International Monetary System in a New World Order
A New International Monetary System in a New World Order As new currencies come to the fore and shifts in economic power continue, the requirement for harmonisation across the global financial industry – in order to facilitate international trade and cross-border investment – has stepped up. The global financial industry is undergoing a period of significant change, fuelled by a combination of regulation, globalisation, economic crises and socio-political unrest.
SWITCHING ON TO FINTECH: THE GROWING POWER OF BANK-NEW ENTRANT PARTNERSHIPS
Published : 9 years ago, on 05/12/2015 By Dominic Broom, Head of Treasury Services EMEA, BNY Mellon Fintech is becoming an ever-greater force in the transaction landscape, bringing new capabilities that are enhancing the payments experience and fuelling client expectations for better, faster and more innovative solutions across the payments spectrum.
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