PYMNTS

NOVEMBER 16, 2018

percent in 2017 per the flow of SWIFT interbank payment messages. Even with efforts to stem the decline in correspondent banking, The Financial Stability Board (FSB) noted on Friday (Nov. 16) that the practice still fell in popularity in 2017. Correspondent banking decreased by 4.1 At the same time, the practice fell by 15.5

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Correspondent Bank Correspondent Regulations Money Laundering 76

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink ecommerce and trading platforms with the SWIFT gpi payment service.”. SWIFT said the first part of this proof-of-concept effort will involve Corda, an R3 blockchain platform.

SWIFT 46

SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 46

The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. “In 2024, cross-border payments volumes will continue to grow rapidly.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

NOVEMBER 27, 2019

The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. What Faster Payments Hasn’t Solved … Yet.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

AUGUST 15, 2019

The growing traction of faster payments continues, especially across a cross-border backdrop. In news reported by MoneyControl.com, SWIFT, the payments messaging giant, is reportedly looking at testing instant international settlements with local networks in India to speed transactions and make them more transparent.

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Settlement SWIFT Cross-Border Cross-Border Payments 51

PYMNTS

APRIL 9, 2020

Although SWIFT revealed plans for its account-to-account functionality last month, the announcement only began making headlines a few days ago. Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. The company has rolled out its service in the U.K.

Payment APIs and Integration 83

Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

JUNE 15, 2018

A new deal involving SWIFT and 10 Chinese banks represents the latest move in the global competition to facilitate cross-border payments. In a statement , the payments messaging company said the financial institutions (FIs) “have gone live” with the SWIFT Global Payments Innovation (GPI) initiative.

SWIFT 40

SWIFT Cross-Border Payments Cross-Border Blockchain 40

PYMNTS

AUGUST 19, 2016

As SWIFT continues to promote the adoption of the ISO 20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO 20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.

ISO 20022 40

ISO 20022 ISOs SWIFT Message Standards 40

PYMNTS

DECEMBER 13, 2018

Amid the continuing movements by governments and nations to overhaul payments operations, Vocalink said Wednesday (Dec. 12) that it has secured a contract with Cámara de Compensación Electrónica (CCE), the automated clearing house in Peru, to help transform payments infrastructure in that country.

SWIFT 53

SWIFT Payment APIs and Integration Interbank Settlement Faster Payments 53

PYMNTS

AUGUST 16, 2019

“We asked, ‘How can we achieve full payment so the beneficiary can get the money in full … and the senders know how much they’re going to be charged and [everyone] knows exactly when it gets there?’”. Cross-border payments have gained prominence for a few related reasons. Remittances on the Rise. and Australia’s NPP.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

AUGUST 9, 2018

Payments infrastructure news tends to be global in scope, as firms and stakeholders eye efficiency and speed in transacting in new and existing markets far-flung in nature. That latter solution lets users access multiple instant payment systems across Europe via single access point, leveraging existing SWIFT infrastructure.

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Cross-Border SWIFT Blockchain Cross-Border Payments 40

The Fintech Times

OCTOBER 19, 2024

Through its new Instant Payments Service, Broadridge supports real-time money transfers, operating constantly, with transaction processing times of under 10 seconds from payer to beneficiary. Instant payments are expected to become the industry standard, particularly for recurring transactions such as bill payments. .

Instant Payments 52

Instant Payments SWIFT Payer Request for Payment 52

PYMNTS

OCTOBER 26, 2018

The company also announced a collaboration with SWIFT, the payments messaging firm, which will use Azure to shift SWIFT’s infrastructure into the cloud. Amazon also continues to lose money on international sales, but it is losing less money over time. billion to $72.5 billion.

SWIFT 51

SWIFT Payment Message Caps Continuity 51

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program. “The

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B SWIFT 41

PYMNTS

FEBRUARY 18, 2019

Blockchain firm R3 recently formed a partnership with payments messaging firm SWIFT , a deal that will see SWIFT link R3’s blockchain platform with its gpi framework, which has become a key component of SWIFT’s cross-border B2B payments operations.

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B2B Cryptocurrency Payments Blockchain 70

The Fintech Times

MAY 9, 2024

As part of our continuous data efforts, we are deploying the LEI, thereby delivering value for our clients and across BNP Paribas CIB.” This includes the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI), The Wolfsberg Group and the Swift Payment Market Practice Group (PMPG).

ISO 20022 69

ISO 20022 Cross-Border Payments Cross-Border Financial Crimes 69

PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. in its faster payments initiatives. “It

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 40

Fintech News

DECEMBER 10, 2023

The challenge in international payments primarily revolves around ensuring data accuracy at every step of the payment chain. Edward spoke of the pivotal role of data and technology in creating and validating payment messages.

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Addressing Fraud Prevention Financial Inclusion Payments 122

PYMNTS

SEPTEMBER 27, 2019

Criticism of the world’s correspondent banking network continues to mount — and at the same time, the number of correspondent banking relationships is on the decline. The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1

Correspondent Bank 55

Correspondent Bank Correspondent Cross-Border ISO 20022 55

PYMNTS

JUNE 16, 2016

The interbank messaging firm SWIFT has had a rough few months. Cyberattackers were able to steal $81 million from the Bangladesh central bank by compromising the SWIFT messaging system , forcing the company — and financial services players everywhere — to take a renewed look at payments security measures.

Security 43

Security B2B SWIFT Faster Payments 43

PYMNTS

AUGUST 28, 2019

Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. Speaking The Same (Payments) Language.

ISO 20022 52

ISO 20022 B2B Real Time Payments ISOs 52

PYMNTS

SEPTEMBER 23, 2019

As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments. Indeed, 55 percent of corporate professionals say real-time payments is their top B2B payments service priority, PYMNTS and American Express note in their latest Securing B2B Payments Report. .

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B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

JANUARY 26, 2017

For this to work,” the firm continued, “the buyer and seller must be an active part of this value chain. Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too. Finlync told PYMNTS that, in B2B payments especially, fraud is on the rise.

Blockchain 57

Blockchain Cross-Border Payments B2B Cross-Border 57

PYMNTS

DECEMBER 17, 2019

He emphasized that the company’s aim is to help move digital currency — that is, digital forms of fiat currency — across bank rails, and that it has nothing to do with cryptocurrency, which is still an unwelcome concept to many financial institutions (FIs) and payments players. It also gained control of Earthport , having bought the U.K.

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Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

NOVEMBER 19, 2019

First, there’s good old-fashioned fraud,” he said, “which is alive and well, is not going away and continues to increase.”. In addition, SWIFT gpi represents a significant upgrade in transparency and how banks communicate with one another, he said. The Two Categories of Risk. Those risks fall into two broad categories, he told Webster.

Fraud Prevention 40

Fraud Prevention Treasury Interoperability Cross-Border 40

PYMNTS

JULY 28, 2016

The network in the states is distinctly different from most other countries, mainly because of its unique ability to carry large amounts of information with payments, which is why it’s important to ensure no capabilities are lost when ACH is mapped to ISO systems. ”

ISO 20022 40

ISO 20022 ISOs NACHA ACH 40

Fintech Labs Insights

OCTOBER 16, 2016

There continues to be an industry obsession with chatbots. Organized by SWIFT, Sibos is considered to be the world’s premier financial services event covering areas such as payments, securities, cash management, and trade. Interestingly, Ripple recently hired former SWIFT board member.

EMV 17

EMV P2P Same Day ACH FinTech 17

PYMNTS

JUNE 7, 2018

Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership. The company also launched a partnership earlier this year with Spain’s Banco Santander to develop a cross-border payments service based on XCurrent.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Blockchain 59

PYMNTS

JULY 1, 2019

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. The new remittance scheme will be powered by Ripple’s xRapid and xCurrent services.

Cross-Border Payments 84

Cross-Border Payments Cross-Border Blockchain SWIFT 84

PYMNTS

JUNE 13, 2018

This week, reports in the Financial Times highlighted the competitive pressure between SWIFT and Ripple as the two companies rival for the top spot in the cross-border payments market. SWIFT, a payments messaging company, has introduced its Global Payments Innovation (GPI) initiative to boost innovation in global payments.

Blockchain 44

Blockchain Distributed Ledger Technology (DLT) SWIFT Cross-Border Payments 44