Fintech News

JUNE 12, 2024

Building upon this achievement, ongoing efforts are underway with five countries – Indonesia, Malaysia, the Philippines, Singapore, and Thailand – in 2023 to establish the necessary building blocks for a future production-ready multilateral platform based on the Project Nexus blueprint.

Cross-Border Payments 121

Cross-Border Payments Cross-Border Interoperability Payments 121

PYMNTS

FEBRUARY 21, 2019

Separately, in terms of individual company news, and also in Europe, EastNets and Bankingblocks said they have teamed up to present modular “banking blocks” aimed at faster cross-border payments. The site noted that Lynx will replace Canada’s current Large Value Transfer System, and will be based on the global ISO 20022 messaging standard.

Cross-Border 76

Cross-Border Cross-Border Payments Real Time Gross Settlement (RTGS) Rules 76

PYMNTS

MARCH 17, 2020

As Caldeira told PYMNTS, “You need to integrate all these networks together to exchange the messages … nothing else can happen without industry-level agreements.”. However, even with messaging standardization undertaken at country or industry level, there is still a risk that cross-network integration gets done on a peer-to-peer basis.

Cross-Border 91

Cross-Border Innovation Payment APIs and Integration Cross-Border Payments 91

PYMNTS

SEPTEMBER 21, 2016

The International Organization for Standardization — knowns as ISO — has reportedly given Australia clearance for its proposed blockchain standards development plan. Standards Australia will head the committee to guide implementation of blockchain technology and the messaging standards. and the European Union.

Blockchain 74

Blockchain ISOs Blocks Message Standards 74

PYMNTS

MARCH 1, 2019

According to a report , real-time payments schemes that use global messaging standards could incur new risks. These messaging standards attach more data to the transactions. Additionally, FIs should, in some cases, hold payments when transactions appear suspicious, but not strange enough that they should be blocked.

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Faster Payments Real Time Payments Security Message Standards 53

Fintech Review

APRIL 9, 2025

the network now offers a 3-block finality, settling transactions in 3 to 4 seconds. XDC Network is ISO 20022 -compliant, aligning with the global messaging standard. ISO 20022 is an international standard for electronic data interchange between financial institutions. Powered by XDC2.0

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ISO 20022 ISOs Payment APIs and Integration TPS 52

PYMNTS

AUGUST 16, 2019

Many companies are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets. Some FIs are also turning to blockchain-based solutions to improve transparency and interoperability.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54