Fintech News

APRIL 13, 2025

CRED USD $867 Million CRED burst onto the scene in 2018 with a bold missionto reward Indias most creditworthy consumers. BharatPe USD $604 Million Launched in 2018, BharatPe focuses on Indias unorganised merchant segment. Headquartered in Bengaluru, the company began as a bill-payment platform for credit card holders.

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FinTech Online and Mobile Banking Finance Push-to-Card 75

Payments Dive

JULY 15, 2025

banks have had years to prepare for the central bank’s shifting of Fedwire to the new standard, with the Fed issuing its first request for feedback on the new standard in 2018. The new ISO standard allows for links to other payments systems run by different organizations, such as the Belgium-based international cooperative Swift.

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FedWire ISOs ISO 20022 Federal Reserve 144

The Fintech Times

MAY 31, 2025

Boosting money movement capabilities Founded in 2018 as an issuer and acquirer processor, Tribe’s payment platform now enables customers to deliver safe customer experiences at any point of the transaction flow. Its a hugely exciting moment for both companies.”

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APACS FinTech Treasury Issuers 51

Fintech News

AUGUST 8, 2024

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. March 2023 marked the start of the migration with a coexistence period with MT messages.

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ISO 20022 APACS SWIFT ISOs 128

PYMNTS

AUGUST 12, 2020

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. “We plan to use the data SWIFT gpi provides to route payments in the most effective, efficient way possible.

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Cross-Border SWIFT Cross-Border Payments Payee 77

PYMNTS

APRIL 11, 2019

That theft serves as a demarcation point for financial messaging service SWIFT , which, in a report released on Wednesday (April 10), found that fraudsters are trying to make off with smaller amounts of ill-gotten gains to fly under the radar of authorities and financial executives. Elsewhere, SWIFT found that the U.S.

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SWIFT Posting Cross-Border Fraud Detection 76

Payments Source

JUNE 15, 2017

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

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Instant Payments SWIFT Payment Message Faster Payments 60

PYMNTS

APRIL 24, 2019

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a payment messaging firm, has chosen Javier Pérez-Tasso as its new chief executive officer, according to a press release. Pérez-Tasso has been part of SWIFT’s executive team for seven years, and he is currently the company’s chief executive of the Americas and U.K.

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SWIFT Cross-Border Payment Message Instant Payments 67

PYMNTS

JANUARY 24, 2019

News from SWIFT on Wednesday (Jan. Per an announcement, SWIFT said that through 2018, it facilitated an average of 31 million messages daily — which, on an annual basis, was up 11 percent from 2017, and represents a 56 percent increase through the past five years. SWIFT has, in recent months, claimed a 99.9

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SWIFT Volume Cross-Border Cross-Border Payments 62

PYMNTS

DECEMBER 18, 2018

SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. According to SWIFT, the SWIFT gpi service has improved the customer experience in cross-border payments by boosting speed, transparency and the traceability of payments.

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Cross-Border SWIFT Cross-Border Payments Correspondent Bank 55

PYMNTS

AUGUST 23, 2019

Working together to solve these challenges was the main takeaway from a PYMNTS discussion between Karen Webster and Heather Lee, financial crime compliance and sanctions strategy at SWIFT , the global financial messaging co-operative. And to that end, we’ve seen growing engagement and co-operation across the industry.”. Rapid Growth.

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Real Time Payments SWIFT Compliance ISO 20022 77

PYMNTS

JANUARY 23, 2019

SWIFT, a leader in secure financial messaging services, said that it facilitated an average of 31 million messages a day in 2018, an increase of 11 percent over 2017, and 56 percent over the last five years, according to a press release. SWIFT gpi was introduced two years ago. Also, the service’s annual traffic reached 7.8

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SWIFT Cross-Border Payments Cross-Border Financial Crimes 49

PYMNTS

MARCH 5, 2019

The Reserve Bank of India (RBI), the country’s central banking institution, has fined almost 20 lenders, including the State Bank of India and ICICI Bank, for not complying with rules on the use of worldwide payments network SWIFT, according to reports. The specific reasons for the non-compliance was not released.

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Non-Bank SWIFT Compliance Procedures 56

PYMNTS

DECEMBER 26, 2018

Daniel Houseman, partner at KPMG, contributed the following piece as part of the PYMNTS 2018 year-end eBook. . Payments innovation in 2018 has leveled the playing field, with new entrants, the rise of the customer and cross-border connectivity all enabling real-time payments almost anywhere and at virtually any time. New Entrants.

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Cross-Border Cross-Border Payments SWIFT Third-Party Service Provider 51

PYMNTS

APRIL 30, 2018

billion: Amazon’s Q1 2018 sales. billion: Whole Foods’ Q1 2018 sales. clicks : The average number of clicks it took consumers to complete online and mobile purchases in Q1 2018. . $236 billion : Total sales revenue foregone due to friction in the checkout process.

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SWIFT Faster Payments Visa Consumer 63

PYMNTS

NOVEMBER 24, 2020

While that price apex was followed by a bubble burst and bitcoin fell to $3,122 in 2018, analysts and crypto fans predict this wave is different. Square and PayPal have reportedly been a major instigator in the price rally, buying large quantities of the digital currency.

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Bitcoin Digital Currency Cryptocurrency NOV 135

The Paypers

FEBRUARY 27, 2018

(The Paypers) Volante Technologies , has announced support for the latest SWIFT Standards Release 2018, making it immediately available to its clients.

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SWIFT Technology 28

PYMNTS

AUGUST 8, 2018

Payments messaging service SWIFT has received clearance to provide access to the Eurosystem’s TARGET Instant Payment Settlement (TIPS) payment scheme, the company said Tuesday (Aug. In an announcement on its website, SWIFT said that, beginning Nov. In an announcement on its website, SWIFT said that, beginning Nov.

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SWIFT Instant Payments Real Time Payments Settlement 40

PYMNTS

APRIL 10, 2019

The amount of money stolen in 2018 averaged between $250,000 and $2 million, which is down from amounts in the tens of millions, according to a report by interbank messaging service SWIFT. The higher the value of the instruction, the higher the risk of triggering fraud-detection systems,” SWIFT said in the study.

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SWIFT Wire Transfer Federal Reserve Fraud Detection 73

PYMNTS

NOVEMBER 8, 2017

To that end, SWIFT debuted its global payments innovation initiative (gpi) earlier this year, a solution which looks to boost the infrastructure underpinning the movement of money on a global scale. As part of gpi’s second phase slated for 2018, the service will offer a “richer data experience,” Wachs said.

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SWIFT B2B Correspondent Bank Overlay Service 43

PYMNTS

AUGUST 20, 2020

This week’s exploration of the latest in payment rail innovation finds industry heavyweights like Visa, SWIFT and NACHA eyeing speed and data to add value to both new and legacy payment infrastructures. “We plan to use the data SWIFT gpi provides to route payments in the most effective, efficient way possible. .

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RTP Phixius FPC NACHA 101

PYMNTS

APRIL 1, 2019

percent: Projected CAGR of the real-time payments market from 2018 to 2023. 23 billion: Number of payments the ACH network processed in 2018. percent: The growth in payments volume via the ACH network between 2017 and 2018. $40 40 trillion: Value of payments transferred through SWIFT in 2018.

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Instant Payments ACH Network Real Time Payments ACH 72

PYMNTS

APRIL 3, 2019

In reference to costs, the average global remittance (overall) cost stood at 7 percent as of Q4 2018 – 4 percent higher than the 3 percent target set in the Sustainable Development Goals for 2030. SWIFT also has an ongoing distributed ledger proof of concept. That comes as SWIFT is working with R3’s blockchain platform, Corda.

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Cross-Border Payments Cross-Border Blockchain Distributed Ledger Technology (DLT) 92

PYMNTS

FEBRUARY 17, 2020

in October of 2018 — more than two years after the U.K. Though accurate numbers haven’t been publicly released as to N26’s customer base, reports have the number sitting at 200,000 since its 2018 U.K. 17), “Just found out your bank’s making a swift Brexit? The startup will shutter all of its U.K.

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Online and Mobile Banking SWIFT Accounts Posting 92

PYMNTS

FEBRUARY 17, 2020

billion records last year, calling it “the worst year on record” and noting that the number of records exposed was 284 percent higher than in 2018. billion in three years, up from its 2018 value of $79.5 One study reported that 7,098 breaches exposed 15.1 Cisco Uses IoT Security To Build Smart Cities.

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Data Breach Breach Blockchain SWIFT 99

PYMNTS

APRIL 18, 2019

In reference to Ripple competitor SWIFT : Diamond Trust Bank — based in East Africa and operating in Burundi, Kenya, Uganda and Tanzania — has become the first East African bank to go live on SWIFT’s global payments innovation (gpi) offering. Africa, Too.

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Cross-Border Cross-Border Payments SWIFT Authentication 77

Fintech Finance

JULY 8, 2024

He also serves on the Board of Directors of SWIFT. He joined NatWest in 2018 after 13 years at the Co-operative Bank, latterly owning the payment strategy together with responsibility for regulatory change, including PSD2 and key payment scheme relationships.

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ISO 20022 Message Standards Payments Strategy ISOs 97

PYMNTS

SEPTEMBER 4, 2020

Returns at the more than 100 banks supervised by the ECB dropped to 5 percent last year, down from 6 percent in 2018, behind most of their Asian and U.S. The reason is not hard to understand. and Asian rivals. Regulators say consolidation in the banking sector would lower costs, improving efficiency and boost profits.

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Cross-Border Payments Cross-Border Correspondent Bank SWIFT 75

PYMNTS

APRIL 1, 2019

The jockeying for cross border-payments continues, and SWIFT and Ripple continue to dominate the headlines. As noted, SWIFT has rolled out its gpi (short for global payments initiative). As the authors also stated, SWIFT has a distributed ledger proof of concept ongoing.

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Cross-Border Distributed Ledger Technology (DLT) Cross-Border Payments Transactions 61

PYMNTS

AUGUST 16, 2019

That figure is expected to reach $550 billion this year, with global remittances to all markets reaching $689 billion in 2018. More than 110 banks from Europe, Asia Pacific, Africa and the Americas are part of the SWIFT gpi, which has been in a pilot stage. and Australia’s NPP.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

Fintech Finance

SEPTEMBER 23, 2024

Jim brings over 25 years of experience in banking and payments and has worked at the forefront of the Open Banking movement since 2018. As a well-known face in the Open Banking movement, she’s represented the UK market at ISO, the European Payments Council and a number of groups within the European Central Bank, Berlin Group, and Swift.

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Continuity ISO 20022 ISOs Central Bank 98

PYMNTS

MARCH 1, 2019

Because the race goes to the swift in an increasing number of verticals, and consumers are impatient for progress. Data: 15 million: The number of active monthly users Square reported in Q4 2018. million: The number of tourists who have used Airbnb in South Korea in 2018. 5 million: The number of Airbnb listings worldwide.

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B2B SWIFT Economy Consumer 59

PYMNTS

SEPTEMBER 1, 2020

The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and declined a significant 22 percent from 2011 to 2019.

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Correspondent Bank Correspondent Cross-Border Cross-Border Payments 123

PYMNTS

FEBRUARY 25, 2020

SWIFT gpi Touts 2019 Numbers. SWIFT ‘s gpi released new data to showcase the growing adoption of the cross-border payments network. According to SWIFT, global transfers by service providers using gpi totaled $77 trillion in 2019, nearly doubling 2018 figures.

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Cross-Border Payments Cross-Border SWIFT Debit Network 56

Fintech News

DECEMBER 5, 2023

” In contrast, OCBC modernised its data platforms to enable swift integration of new technologies, including generative AI. Donald pointed out that OCBC’s journey in data science began in the late 1990s, with significant investment in AI since 2018. A fundamental aspect of OCBC’s AI strategy is ethical practice.

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AI SWIFT OCC Money Laundering 111

Fintech Finance

MAY 28, 2025

Founded in 2018 as an issuer and acquirer processor, Tribe has evolved its payment platform to enable its customers to deliver frictionless, safe customer experiences at any point of the transaction flow. It’s a hugely exciting moment for both companies.”

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APACS Treasury Issuers Payments 92

PYMNTS

NOVEMBER 5, 2019

San Francisco-based blockchain FinTech Ripple is being questioned about its claims that rival cross-border payments firm SWIFT has a 6 percent error rate, AMBCrypto reported Tuesday (Nov. Garlinghouse has highlighted SWIFT’s error rate on a number of occasions, including at the Money 20/20 Asia conference in 2018.

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Cross-Border Payments Cross-Border SWIFT NOV 46