Banking

Barclays’ New Luxembourg Branch To Cater To Global Corporates

Barclays has announced the launch of a new branch in Luxembourg that will provide multinational clients with transaction banking services. The branch, to be led by Snorre Tysland, will offer corporates and financial institutions banking products that include cash management, debt, foreign exchange and trade finance facilities. It will operate as part of Barclays Europe, which now consists of seven branches around the continent.

“Our new branch in Luxembourg, and expanded digital platform, will help us do more for clients who have complex transaction banking needs. The platform is now live in seven countries, with more to follow, making account management for our multinational clients so much simpler,” said David Farrow, head of international corporate banking at Barclays, in a press release.

He continued, “Luxembourg is home to a well-established private equity community, as well [as an] important insurance center, emerging FinTech hub and a location of choice for multinational corporates. In our International Corporate Banking unit, we’ve got specialists who understand each of these sectors. By drawing on the experience and knowledge of our client management and product experts, coupled with our increased investment in technology, we’re striving to make a real difference for businesses in Luxembourg and across Western Europe.”

In addition to the branch opening, Barclays has expanded its digital Corporate Banking platform to Luxembourg. The platform launched last year, and is also available in Portugal, France, Spain, Ireland, Germany and the Netherlands. It enhances the client experience, and helps multinational corporates manage their banking needs through a single, cross-border system. Some of the benefits include streamlined Know Your Customer and account opening, digital onboarding, improved self-help capabilities and multilingual servicing.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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