The Hub is a centralised, real-time payments solution that will enhance CIBC’s ability to deliver new capabilities and support emerging technologies such as blockchain. iGTB enables payments to be orchestrated horizontally across banks, with the aim of assisting banks to become an integral part of their corporates’ supply chains – delivering tangible economic, operational, business and strategic benefits to both parties.
In terms of functionality, iGTB’s Payments Services Hub also provides easy integration with downstream systems such as core banking systems and payment gateways. The Hub can also help banks meet Basel III requirements. Under Basel III’s Liquidity Coverage Ratio (LCR), banks are required to hold an amount of high-quality liquid assets (HQLAs) – such as cash, treasury bonds or corporate debt – equal to, or greater than, their net cash outflow over a 30-day stress period, having at least 100% coverage.
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