Recent Board and Board Members Meetings in Strasbourg, France
IBOS was delighted to celebrate 30 years in Strasbourg, France with its Members, providing clients with world-class international cash management services through its network of member banks across the globe, as it I to evolve in order to provide banks with local knowledge on a global scale.
IBOS’ thirtieth year has seen the association demonstrate its resilience and adaptability to the banking market through innovative solutions – such as the online referral portal that changed how businesses operate – and its dedication to prioritising the customer in a changing market.
network’s mission throughout the last 30 years and beyond. IBOS now looks forward to continued growth in the alliance and expansion of its geographic coverage so that members may better serve their customers across the globe.
Recent Board and Board Members Meetings in Strasbourg, France
Going forward, we will continue to closely listen to members’ needs in helping the association to identify other markets where access is required keeping in mind both the challenging business environment and the geopolitical trends and as well as identifying other complementary service areas which the IBOS ecosystem can encompass.
In 2024, IBOS welcomed Santander Consumer Bank AG and Rabobank to the network, covering the German and Dutch markets respectively. These new members enrich the association’s strong geographic coverage in Europe, embracing growth and sustainability which aligns with the
We would like to extend our thanks to our member banks for their tremendous participation and contribution as we grow our Association to increase international business referrals, with the perspective of growing our geographical reach.
Mario Domenico Recchia
MEMORIES MADE IN STRASBOURG
The IBOS Portal
Work has continued on the IBOS Portal working closely with our IT Supplier Spindogs. Since our last Newsletter the following changes have been made:
Security Monitoring of our Public Website and Members Portal
IT Monitoring of threats, vulnerabilities and security concerns has been installed to capture any suspicious activity on the IBOS Public Website and Portal. Monthly reports are produced and reviewed by the IBOS Office and our IT Supplier.
New Portal Homepage
A new Bank Homepage has been produced improving the visual layout, which are shown in the screenshots below.
Signature Template Upload
Signature Upload template has been added to the Signatures section in Edit Details.
Account Opening Redesign
Within Account Opening, the Resident / Non-Resident section has been redesigned.
Infrastructure and Security Document
An Infrastructure and Security document has been produced by our IT Supplier detailing Hosting, Security and Disaster Recovery information, which can be shared with your bank’s IT, Compliance and Audit teams if required.
Multi-Factor Authentication
A one-time passcode will be sent to your registered email to login, with the option to remember your device for the next seven days, which is shown in the screenshot below.
Currently in progress is our migration from our on-premises server to Microsoft Azure in the cloud, which we expect to complete before the end of the year. Other updates to the Portal will continue into the first half of next year and the changes currently being considered are Email Notifications, an RFP Repository, a New Tab for Electronic Banking, Updates to the Referral Process, Time Stamps for Updated Information and a Redesign of the Processes and Resources section.
Do connect with IBOS Office if you require additional insight or training refresher on the recent changes implemented on the portal, we welcome your continued feedback for process and product enhancements.
The D-Zero Contractual Refresh
IBOS Office scheduled an updated information session on the D-Zero project, the main purpose was to provide key stakeholders to review the updates, collect any additional feedback and to go through the designs to collect additional feedback on how to develop additional functionality.
This functionality will be developed leveraging the IBOS Portal after the MSA has been finalised IBOS have requested the D-Zero banks to review Knights proposal to identify any fatal flaws and additional necessary modifications considering all of the work which has been previously performed. As requested during the Project kick off, within each D-Zero Banks organisation, we suggest that review should consider the same perspectives involved previously:
• Functional Cash Pooling Processes
• Technical Messaging Facilities
• Bank Payment and Reconciliation Processes
• Credit and Operational Risk
• Legal
• Operations and Business continuity
• Other
We look forward to the completion of this project in first half of 2025 so to allow other current IBOS members to offer the service and to facilitate also the acquiring of new IBOS banks given the uniqueness of the D-Zero product offering for multinational Corporate/SME segments.
Positive steps forward with SVB
Until now, SVB was a Host Bank and only sent referrals within the network. Now, the bank accepts referrals as an Account Holding Bank. This is a significant step for the bank and the expansion of the IBOS network, which prioritises member banks and their customers in an industry that is constantly evolving.
Since First Citizens Bank’s acquisition of SVB, it is a positive step forward that SVB is now a division of First Citizens Bank under its new business model ‘Yes, svb’. This not only accelerates growth, but SVB also has increased capabilities with the diversified platform and backing of First Citizens Bank.
We continue to take the approach by inviting our existing members to join our calls either in person or through our virtual Teams demonstrations of the IBOS Portal. This strategy has proven to be beneficial, as existing members can articulate the in-house demand they have, as well as discuss technical details related to on-boarding requirements.
Our approach to pitch IBOS to new prospects can only be beneficial if we have the support of our existing members to assist us with joint pitches.
We look forward to making new member announcements in the New Year and the increase in our country coverage to the benefit of our Members and underlying clients.
New Member Update
IBOS continues to work on aligning its approach to new members joining the Association. It has been a busy year making several key presentations to interested parties across the globe. To date, we have provided presentations to various financial institutions that:
SAVE THE DATE
1. Initially closes our key footprint gaps
2. Entry in new geographic regions through leveraging our existing members and the key network of affiliates or relationship banks they work with.
Board and Business Development Meetings, 2025
Please look out for the 'Save the Date' in the New Year for our next Board and Business Development meetings, looking to be held in Prague, Czech Republic.
Various dates being considered are: • September 8-12 • September 15-19 • October 27-31
Details will be shared once we have secured dates and the location of the hotel for our annual meetings.
