Andrea Kemmer

Yesterday we received the great news that ABN AMRO Bank N.V. is in the process of acquiring HAUCK AUFHÄUSER LAMPE, one of the oldest and prominent private banks in Germany. This acquisition solidifies ABN AMRO’s position as the 3rd largest private bank in Germany. I can’t express enough how happy I am with this news. Germany is not only the largest economy in Europe, but it’s also the leader (with a landslide distance) in ETF adoption across the EU. Further strengthening the position of the bank in this country makes sense for many reasons, but most notably because it’s still a massive growth market for wealth management. The most important thing for me is that this news shows that the focus for ABN AMRO is on future growth across the EU. This is in line with our own ambitions to drive digital adoption and innovation within the ABN AMRO family. We are already available in 8 countries across the EU and Germany is already our 3rd largest market. Time to accelerate! A big congrats to the Bethmann Bank and Morgan Stanley teams for bringing this home. We at BUX couldn’t be more excited. #acquisition #wealth #germany https://lnkd.in/exFE2rNX

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Hedge fund confidence down in Q2

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Let's meet in Amsterdam 🎉 KYCnow is going to Money20/20 next week. You will find us at the joint stand of the Bundesministerium für Wirtschaft und Klimaschutz under the name of our parent company, SCHUFA Holding AG ➡️ Hall 8, Booth 8A80 Let's have a chat about the #KYC process, money laundering prevention and the upcoming EU AML package. See you in Amsterdam? #moneylaundering #aml #fraud #compliance

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A real good summary of the new possibilities with the different EU payment & digital identity approaches by digitallabor.berlin. In the end everything is highly depending on the end user acceptance, with the right wallet offering (in terms of daily relevance and the right feature/function set). #wallet #payment #eID

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#SUERFpolicybrief “How to deal with the negative effects of inflated central bank balance sheets?” by Thomas Jost (TH Aschaffenburg University of Applied Sciences) and Reimund Mink (formerly European Central Bank) Due to the massive purchases of securities in the last 15 years central banks incur substantial losses likely to persist for several years. On the other hand, the banking sector gains large profits from interest payments on their excess reserves holdings. Central banks and fiscal authorities must now bear the flip side consequences of their bond purchase programs. Populist demands to limit bank profits by drastically increasing minimum reserve ratios in the Eurosystem are creating new severe problems. Instead, a consistent and faster normalisation of central bank balance sheets would be desirable. Central banks should also no longer be central players in government bond markets to restore the lost boundaries between fiscal and monetary policy. https://lnkd.in/dz6wxwcw #CentralBankLosses #Eurosystem #QuantitativeEasing #MinimumReserves #MonetaryPolicy

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🤿Deep-dive into account information - What happens to the transaction codes (in Germany: #GVC #Geschäftsvorfallcode) in #camt.053? 📑Many companies use the transaction codes from the electronic account #statement (#MT940) to assign the payment type. The indicate the specific type of a posting (for example, whether it is a cash concentration posting or fees). ⌨️With the migration to the new XML format (camt.053 version 8) by the end of 2025, so-called business transaction codes (BTCs) will be used instead of the old transaction codes. In some cases, the old transaction codes (e.g. according to the standard of the German Banking Industry Committee, GBIC) are still transmitted, but no longer updated. 🔄My recommendation: Switch to the new BTCs should take place directly during the migration to the new electronic account statements #camt.053 (version 8!). Two examples: -A cash concentration booking on a German account receives the transaction code (GVC) 833 - the corresponding BTC is divided into the domain code (CAMT), the family code (CAPL) and the subfamily code (OTHR). -An incoming payment from abroad currently has the transaction code (GVC) 202, while the BTC is delivered as follows: Domain Code (PMNT), Family Code (RCDT) Subfamily Code (XBCT) 👀Let‘s take a look in #XML: <BkTxCd> <Domn> <Cd>CAMT</Cd> <Fmly> <Cd>CAPL</Cd> <SubFmlyCd>OTHR</SubFmlyCd> </Fmly> </Domn> <Prtry> <Cd>833</Cd> <Issr>DK</Issr> </Prtry> </BkTxCd> An overview of the common BTCs can be found on the German Banking Industry Committee (#GBIC) website. The extended version with all combinations, is also available. In some cases, the use is bank-specific - speak to your bank before implementation. You will usually receive an up-to-date, bank-specific list there. Both links are in the comments. 🌐The migration to the new #XML formats according to #ISO20022 is a global change. The use of #BTCs is not limited to Germany. The camt.053 statements from your foreign banks will usually also include a #BTC. Enjoy this? ♻️ Repost it to your network and follow Sebastian Schuldt for more.

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issuance.swiss AG offers Cardano Foundation Staking ETP on the Deutsche Börse by #ETFWORLD The Switzerland-based protocol Liqwid Labs Finance, in partnership with the issuer issuance.swiss AG, is launching CASL, an innovative #ETP in the world of staking digital assets. CASL not only captures the performance of the underlying ADA, managed by the Cardano Foundation, but also the interest earned by staking the token. Distributed as an ETP (Exchange Traded Product), the product is accessible to all kind of investors from Thursday last on the Zurich stock exchange, the SIX Swiss Exchange (ISIN code CH1327686056 - Ticker CASL). What is an Exchange Traded Product (ETP)? An ETP is an investment vehicle that mimics the performance of a selection of related assets. ETPs are a popular investment method that combines the advantages of other trading instruments. 💡 How does an ETP work? #ETPs (exchange traded product) are designed to mirror an existing underlying market, such as an index, commodity or currency. Their objective is simply to mimic the performance of the underlying market and achieve a similar result. Will #Solana or #Cardano be the next ETF? https://lnkd.in/e5H2UceU

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“Discovering Automation and AI Opportunities in Financial Services - with Christophe Makni of Basler Kantonalbank” https://lnkd.in/dNg5g8T2 As AI automation (aka, "intelligent automation," or IA) in financial services quickly becomes mainstream, it attracts increased stakeholder interest as firms explore unlocking value via increased efficiency, cost reduction, and enhanced predictive capabilities. IA in financial services brings the potential to help generate positive ROI across various operations - customer service, lending and mortgages, HR and hiring, internal auditing, and more. To discuss the impact of IA and other technologies on the financial services sector, Emerj Artificial Intelligence Research CEO and Head of Research, Daniel Faggella spoke on the AI in Business podcast with Christophe Makni, Managing Consultant for Lean AI and Automation at Basler Kantonalbank in Basler, Switzerland. Basler Kantonalbank is one of 24 banks that provides financial services to citizens of Switzerland's 26 canons (administrative divisions). The bank's personal and commercial products are numerous, with offerings from all financial services areas except for insurance. From their approximate 20-minute-long conversation, this brief focuses on three distinct topics: - How to “start small” in AI adoption and where - Building a framework for early-stage implementation - Winning C-suite support by showing an early ROI #IA #intelligentautomation #automation #finserv #banking #AI

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Teylor AG acquires creditshelf Aktiengesellschaft in what could be Europe leading alternative lending powerhouse Swiss alternative lending leader #Teylor AG has joined forces with Germany's prominent SME financing platform #creditshelf AG. This strategic acquisition creates a dominant player in the €1 trillion+ European SME lending market. SMEs will have access to a wider array of financing solutions, encompassing loans ranging from €100,000 to €5 million. This caters to diverse funding needs, allowing businesses to secure the capital they require for growth and expansion. To ensure continuity and guide future growth, Dr. Tim Thabe (creditshelf CEO) and Dr. Dr. Daniel Bartsch (creditshelf CFO) will join Teylor's leadership team. Their expertise in the SME financing landscape will be invaluable as the combined entity navigates the European market. Teylor views this acquisition as a stepping stone for further consolidation within the European #Fintech sector. They plan to leverage their strengthened position to pursue strategic acquisitions and partnerships. This focus on inorganic growth reinforces Teylor's commitment to becoming the undisputed leader in alternative lending for European SMEs. Additionally, Teylor intends to secure substantial growth capital through equity and debt financing rounds. This is just the last of the aggregations made in the fintech industry in Europe recently, a wave of consolidation started in 2023 that seems to have no end in the ecosystem. The announce on #teylor website in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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📊 # China's financial markets are embracing ESG! According to a new Bloomberg survey of over 150 Chinese market participants from banking, insurance, securities and technology, hashtag #ESG is playing an increasingly important role in investment strategies. 🌱📈

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🇪🇺 First #DLT-related experiment for settlement in central bank money (wholesale #digitalEUR) successfully completed! 📍Yesterday, the ECB Eurosystem successfully completed the first experiment in using new technologies for the settlement of wholesale transactions in central bank money. 📍Initially, 16 private companies (among them BNP Paribas) have been onboarded and will conduct trials involving actual settlement in central bank money and experiments with mock settlement in test environments. 📍The exploratory work will provide the Eurosystem with insights into how the TARGET Services and distributed ledger technology (DLT) platforms could interact and into the potential merits of using new technologies in wholesale financial markets. 📍The ECB and the national central banks of the euro area are among the first central banks to explore actual central bank money settlement of wholesale financial transactions using such technologies. 📍Trials and experiments will be conducted over the next six months on the three Eurosystem interoperability-type solutions proposed for central bank money settlement of wholesale financial transactions recorded on DLT platforms. 📍The first experiment, carried out by Oesterreichische Nationalbank, covered the tokenisation and simulated delivery-versus-payment (DvP) settlement of government bonds in a secondary market transaction against central bank money. 📍Preparations for further trials and experiments are ongoing and will cover a variety of use cases, including DvP transactions in primary and secondary markets, securities lifecycle management, automated wholesale payments and payment-versus-payment transactions. 📍A set of key performance indicators will be used to assess the results of the trials and experiments. The assessment will be performed in cooperation with the participating companies. #digitalassets #digitalassetscustody

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Few weeks ago, the European Banking Authority (EBA) has published its final Guidelines on the resubmission of historical data under the supervisory reporting framework. 🎯 The overall objective is to achieve more clarity, consistency and harmonisation when it comes to resubmissions of historical data after errors were detected in banks' comprehensive #COREP or #FINREP templates. Definitely a highly appreciated and long-awaited initiative! 👍 ⚠ However, the way to get there goes hand in hand with a set of new open questions and most likely the need for many banks to implement a standardised resubmission process that is able to reproduce high quality and consistent historical data over a long time horizon without paralysing the whole organisation. Reporting specialists know how painful this can be given the strong interconnectedness within EBA's Data Point Model... 💡 In our latest #regulatoryblog we outlined the key facts of the new EBA Guidelines and our view on potential impacts on banks' reporting practice. What are your thoughts on this? Feel free to contact us! 👏 Michael Schlembach Simon Blöchl Roman Seyfried https://lnkd.in/edJAVQwq

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This utube was published 1 year ago, after Credit Suisse was bought by UBS. Daniel Lacalle was asked about the state of European banks :- > He mentioned the 81 contigent bonds which were also convertible bonds issued by the European banks. > The yields was 19%, which showed how risky it was. > He also highlighted the banking situation in Europe is much more dangerous than US as debts of major economies were 190-200% of GDP. > EU used to apply negative interest rates which decimated profitability of EU bonds. Thankfully, they hiked later. > Europe banks do not have the collateral and liquidity providers that US banks have. They are more conservative but riskier. With political risks and financial risks heightening as elections draw near, banking crisis is again in the spotlight. Bear in mind European banks are taking in US real estate commercial loans, apart from their domestic commercial and private property loans, to stay profitable as domestic savings stay low.

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Leading banks like PostFinance are setting new benchmarks in scheme compliance management with our solution, Kajo. “The potential impact of non-compliance is immense, making it crucial to have a transparent and structured process to avoid oversights. Kajo addresses this concern perfectly,” says Claudia Schirone-Lumia, card scheme manager at PostFinance. Discover how Kajo helps them maintain transparency and prevent costly oversights https://bit.ly/3Vso2Xf #Payments #RegTech #FinancialServices

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Wie von den meisten Analysten erwartet: EZB senkt heute die Leitzinsen um jeweils 25 Basispunkte. The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points and the inflation outlook has improved markedly. Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and inflation expectations have declined at all horizons. Monetary policy has kept financing conditions restrictive. By dampening demand and keeping inflation expectations well anchored, this has made a major contribution to bringing inflation back down.

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Finally closing the acquisition of Degussa Bank

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De Nederlandsche Bank and the Autoriteit Financiële Markten last week published their report (https://lnkd.in/ee6c8mTp) discussing the impact of Artificial Intelligence (AI) on the financial sector and supervision. The report specifically mentions the use of AI in Anti-Money Laundering (AML) applications, underscoring the potential of AI to refine risk assessments and enhance the efficiency of transaction monitoring systems. At the same time, the report draws attention to the need for responsible use, rigorous risk management, and adherence to regulatory standards regarding the use of AI to safeguard the integrity of financial institutions. While the report makes clear that the regulators have not yet decided on their implementation of supervision on the use of AI, it is becoming increasingly apparent that financial institutions must prepare for a tighter regulatory environment regarding the use of AI. The convergence of AML and upcoming AI regulations implies the need for robust model risk management practices tailored to AML models to navigate this evolving landscape successfully. This underscores the relevance of our key perspectives on staying in control of AML model risks (https://lnkd.in/ewhfR6Qv). #AML #FutureofFinancialCrime #AML #GenAI #integratedclientriskview #nextgenAML

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#D7 goes #Blockchain! Congratulations to the project teams in all three organisations (DZ BANK AG, DekaBank Deutsche Girozentrale and Clearstream) for the successful trial use-case executions! This lays the foundation of the #D7 DLT proposition as a complement to its existing digitization capabilities for real-world securities. #D7 Leader in Digital Financial Markets

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EMIR REFIT Go-Live is achieved ✔ . The first reports have been submitted and feedback is received and analysed. Some conclusions can already be drawn, but the road to full compliance is not yet over - the analysis and the iterative adjustment process based on Pairing & Matching is next on the agenda. Furthermore, the self-disclosure to the national regulatory bodies is coming up. #emir #emirrefit

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