Fintech News

JANUARY 30, 2024

PvP ensures that the final transfer of a payment in one currency only occurs once the corresponding transfer in another currency is completed. Commercial banks are at the forefront of this movement, developing deposit tokens that correspond to the existing deposits held by these banks.

Payments Trends 120

Payments Trends Digital Currency Distributed Ledger Technology (DLT) Cross-Border Payments 120

PYMNTS

SEPTEMBER 5, 2019

We have built the world-leading BankID service and the Swish payment method,” said Kirstine Nilsson, Swedbank’s head of business infrastructure, consumer payments and cash management. “We ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize cross-border transactions.

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SWIFT ISO 20022 Authorization API 72

PYMNTS

SEPTEMBER 17, 2020

The bank says customers will be able to utilize "increased liquidity, improved visibility into cash flows, and greater control as the need to transfer funds to third party accounts is removed.". ClearBank will remain in charge of the clients' funds. "One,

Multi-Currency 64

Multi-Currency Accounts Payment APIs and Integration Correspondent Bank 64

PYMNTS

JULY 16, 2018

In a press release, Citi said Citi Payment Insights empowers clients by giving them a complete view of the transaction lifecycle within Citi’s global network and across the correspondent banking ecosystem by integrating the transparency provided by SWIFT’s gpi initiative.

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Correspondent Bank Payment APIs and Integration Correspondent Real Time Payments 44

PYMNTS

SEPTEMBER 11, 2019

ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize cross-border transactions, though some believe ISO 20022 and APIs are not compatible. Last week, SWIFT launched a new API standard for the pre-authorization of funds. “In

Cross-Border Payments 76

Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

SEPTEMBER 17, 2019

State-chartered financial institution Bankers’ Bank , which focused on providing correspondent banking solutions to community banks, recently announced it would become a funding agent for institutions that want to offer real-time payments via The Clearing House ’s RTP service. Community Banks Go Real Time.

B2B 43

B2B RTP Bankers' Bank Accounts 43

PYMNTS

NOVEMBER 6, 2019

The complexity of having to match those against the corresponding invoice charges or customer billing is incredibly complex if you don’t have an automated solution.”. “Validation [of these complex invoices] is done by exception or sampling, and that’s not surprising,” he said.

Volume 40

Volume Agreements Assessments Correspondent 40

PYMNTS

AUGUST 2, 2018

That connectivity, Rhodes stated, is one that remains a goal of iGTB, with software in place for digital banking that can help transform cash management – and that the bank need not rip and replace all of its legacy assets. Against that backdrop, said Rhodes, iGTB has been debuting a new architecture driven by APIs.

B2B 40

B2B Payment APIs and Integration Payments Cross-Border 40

Nanonets

SEPTEMBER 21, 2023

This involves closing out temporary accounts, such as revenue and expenses, to their corresponding permanent accounts, such as retained earnings. The statement of cash flows summarizes the business's cash inflows and outflows over the accounting period, highlighting the sources of cash and the uses of cash.

Accounts 40

Accounts Adjustments Transactions Process 40

PYMNTS

SEPTEMBER 24, 2019

The technology is a new take on the correspondent banking network, a legacy system that critics say hampers visibility and traceability into payments as they bounce between financial institutions around the world. It’s also new players in the market. We need to become efficient enough to provide seamless real-time and digital process.”.

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SWIFT Cross-Border Payment APIs and Integration Cross-Border Payments 73