New-auto sales in the United States are steadily climbing while sales outlets for new cars decline, opening the post-recession auto market to new or re-emerging auto finance competitors, particularly in the used-car (or "subprime") segment. Today's consumers are exceedingly cautious in signing up for debt and selecting lenders. Many now measure in years their financial struggles: unemployment, rising real-estate debt, college loans, and automobiles that need replacing.
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On November 6, 2013, a world first will take place. A fully virtual 3-D conference targeted at independent wealth advisors and connected parties from across the globe, Virtual FinFair, will run for a total of 13 hours, from 9 a.m. to 10 p.m. (GMT+1). The event is the brainchild of E-Merging, the international B2B social network for independent financial advisors founded in 2009 out of the independent asset management team of Swiss partnership private bank Lombard Odier. Used to doing things differently in a somewhat traditional market, E-Merging's latest step is taking things a step further in wealth management.
Today, SWIFT and treasury systems vendor Bellin announced that they will implement a direct connection between SWIFT and Bellin’s tm5.
Today's announcement of a partnership between MasterCard and global B2B network Basware scores another point for the likely uptake of the B2B payment networks model—a model that I predicted in a recent blog post would come to the fore. The combination of B2B trade networks and payments infrastructures is clearly emerging as a paradigm that enables the exchange of physical and financial supply transactions between trading partners and financial institutions. This may be the sunset of bank-centric payments networks as we have known them.
When Target2-Securities (T2S) was first announced back in 2006, the initial market reaction was one of consternation and disbelief. Many in the naturally cynical capital markets community assumed it was part of a European Central Bank (ECB) ploy to keep their employees that had just finished the Target2 cash settlement platform occupied and on the payroll for the next five years. Others saw it as a way to force central securities depositories (CSDs) in Europe to bring down their prices for cross-border settlement (and, frankly, to put some of them out of business).