Samar Baasiri, head of compliance unit at BankMed said correspondent banks
relied on the local banks' due diligence.
We find that correspondent banks
are thrilled with our capability because it levels the playing field, and keeps our clients' customers 'shopping at home' instead of using global competitors who already have made strides into building local corporate market share," said Maya Vovchuk, vice president and senior sales officer of Alliance Services International and who reports to Serpe.
Clearingworks will help The Bankers Bank provide the highest quality of correspondent services to community banks, as well as allow The Bankers Bank to help other correspondent banks
serve their own customers," said Mario Villarreal, president and COO of US Dataworks.
This enhancement to Quad City Bank and Trust Company's service offering will provide its Correspondent Banks
an alternative access point from systems such as FedLine Advantage, etc.
FImetrix Research recently ranked Wachovia the number one correspondent bank
provider in Asia and Latin America in market share, and the number one bank worldwide in overall customer satisfaction.
com, a leading application service provider (ASP) for correspondent banks
and community financial institutions, announced that they have joined together to provide community financial institutions seeking to enter or expand their presence in the remote deposit capture market with technology which will facilitate the process.
Our online, user friendly and very robust cash management communications application, Correspondent Bank
Connection (CBC) is the cornerstone application that provides us with the ability to conduct business very effectively and efficiently with a continually increasing number of community banks.
Independent Bankers Bank (IBB), a full-service $400 million correspondent bank
providing services to more than 250 banks in Florida, Georgia and Alabama since 1983, announced its selection of Open Solutions Inc.
Now that we have evidence that large banks are reducing services to correspondent banks
and remittance providers, the private and public sectors need to come together to find practical and fact-based solutions.
Top 25 correspondent banks
reports reveal that their total revenue from their correspondent banking activities are $10Bn annually.
The KYC Registry enables member banks to proactively share information with correspondent banks
, increasing efficiency, reducing cost and allowing our region to demonstrate transparency and KYC compliance more effectively.
The SWIFT lines were taken down by the statutory manager only when there was an attempt by the special administrator to have FBME deposits held by correspondent banks
abroad moved to the Central Bank of Cyprus.