Processing payments is all about moving capital between counterparties. It sounds simple, but it is not. The lack of a standard business entity identifier means it can be a challenge to identify the correct entities. The implementation and adoption of the international business entity identifier (IBEI) would diminish this danger, reducing the risk of processing payments. But before IBEI becomes a reality, firms must sort out some irksome manual processes in the payments reference data space.
Anthony and James talk about how regulators in the US are falling behind other nations' regulators, the lack of talk about Reg AT, and an SRO for cryptocurrencies.Subscribe to Weekly Wrap emails