The Payments Association

MAY 9, 2025

As financial crime evolves, correspondent banks must prioritise wire transfer transparency to meet global regulations and safeguard the financial system. Correspondent banking is vital in facilitating global trade, enabling cross-border remittances, and connecting emerging markets to the international financial system.

Correspondent Bank 88

Correspondent Bank Correspondent ISO 20022 Wire Transfer 88

Fintech Finance

JUNE 5, 2024

Today, Ripple , the leader in enterprise blockchain and crypto solutions, announced a new partnership with Clear Junction , the global leader in cross-border payments solutions for regulated institutions. The post Ripple Partners With Clear Junction to Enhance UK and EU Cross-Border Payments appeared first on Fintech Finance.

Cross-Border Payments 98

Cross-Border Payments Cross-Border Multi-Currency IBAN 98

PYMNTS

OCTOBER 19, 2020

These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments.

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Technology 77

Fintech Finance

NOVEMBER 4, 2024

Wise has spent the last 14 years building an alternative to traditional correspondent banking. With over 65 licenses globally and now six direct connections to domestic payment systems, this infrastructure enables over 63% of all Wise transactions to be completed instantly (under 20 seconds), with an average fee of 0.62%.

Instant Payments 98

Instant Payments Settlement Accounts Cross-Border Payments 98

Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

Cross-Border Payments 93

Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

PYMNTS

OCTOBER 16, 2020

The traditional correspondent banking network is one major speedbump that stops financial institutions (FIs) from providing speedy, inexpensive, cross-currency and cross-border transfers, Lembo explained, but financial services providers can adopt new technology and approaches to safely streamline these transactions.

Cross-Border Payments 85

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 85

PYMNTS

APRIL 3, 2019

It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. These shortcomings make the cross-border payment industry ripe for disruption and innovation.

Cross-Border Payments 92

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

Fintech Finance

MAY 29, 2025

Conduit , a leading cross-border payments platform powered by stablecoins, announced today it closed a $36 million Series A funding round. “Traditional cross-border payment systems do not meet the demands of modern businesses.

Cross-Border Payments 81

Cross-Border Payments Cross-Border Stablecoins SWIFT 81

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. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Finextra

JUNE 19, 2024

Taking to the stage on the second and final day of EBAday in Lisbon, Portugal were Erik Frantz, executive director, financial institutions – banks, CaixaBank; Roisin Levine, head of UK and Europe partnerships, Wise Platform; Rafael Linde, head, international development and global relationship management, Cecabank; Dean Sposito, head of institutional (..)

Correspondent Bank 59

Correspondent Bank Cross-Border Payments Cross-Border Correspondent 59

Finance Magnates

FEBRUARY 15, 2023

How MSBs are leveraging the power of USDC and Circle for cross-border payments to their counterparties. As cross-border payments continue to gain popularity, businesses are constantly looking for faster, more secure, and cost-effective methods to conduct transactions.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 52

PYMNTS

SEPTEMBER 24, 2020

This month’s Deep Dive explores the challenges that remittance service providers face when seeking to stay compliant, the impact this has on the availability of cross-border money transfer services and regulatory technology strategies to help reduce this friction. . Correspondent Banking . The Cost of Compliance .

Regulatory Compliance 89

Regulatory Compliance Correspondent Bank Compliance Correspondent 89

Fintech Finance

AUGUST 12, 2024

Nium , the global leader in real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers. Nium has been present in the region dating back to 2017.

Real Time Payments 98

Real Time Payments Cross-Border Payments Cross-Border Central Bank 98

PYMNTS

SEPTEMBER 11, 2017

A new report from the International Finance Corporation, a part of the World Bank Group, finds correspondent banking relationships are down, an unintended consequence of regulatory reform. 8) said 27 percent of global banks surveyed have reported a drop in the number of correspondent banking relationships.

Correspondent Bank 51

Correspondent Bank Correspondent Due Diligence Wire Transfer 51

Fintech Finance

OCTOBER 15, 2024

RTGS.global , the next generation settlement company revolutionising cross-border payments, has today announced the launch of a unique solution for Payment Service Providers (PSPs) that will enable them to offer cheaper and faster international payments to their retail and corporate customers.

Cross-Border 98

Cross-Border Liquidity Management Cross-Border Payments Correspondent Bank 98

Fintech Finance

JUNE 26, 2024

SmartStream’s enhanced APC solution addresses these issues by connecting financial firms with any payment rail globally, providing a single, integrated solution to track, monitor, and investigate transactions across the payments corridor.

Cross-Border Payments 98

Cross-Border Payments Reconciliation Cross-Border Instant Payments 98

PYMNTS

AUGUST 21, 2020

For the financial services world to address businesses’ global payments needs, Conibear said they must take a holistic approach that goes beyond facilitating cross-border payments or improving upon legacy payment rails. Beyond Payments Initiation. Open banking and PSD2 initiatives in the U.K.

Multi-Currency 69

Multi-Currency Cross-Border Payments Cross-Border Finance 69

PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! DLT would also help in terms of cross-border payments, he said.

Digital Currency 94

Digital Currency Central Bank Distributed Ledger Technology (DLT) CBDC 94

PYMNTS

NOVEMBER 21, 2018

With FinTech driving innovation and competition in the cross-border payments space, governments can no longer afford to ignore changing and heightening demands for greater speed, transparency and efficiency in global transactions. times global GDP in 2016.

Authorization 49

Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

PYMNTS

FEBRUARY 20, 2019

Cross-border payments firm Veem is introducing a rewards program for its business customers. 19) said the company is rolling out VeemRewards, a cash-back rewards program for businesses that use Veem to send payments across borders. An announcement made on Tuesday (Feb.

Cross-Border Payments 66

Cross-Border Payments Cross-Border Payment APIs and Integration B2B 66

PYMNTS

MARCH 7, 2019

Wirex , which providers consumers with an account to store both fiat and cryptocurrency, recently stepped into the corporate finance space with the launch of its business account. Cross-Border Payments Friction. Yet the pain points continue. Mixing Crypto With Fiat.

B2B 67

B2B Cross-Border Cross-Border Payments Correspondent Bank 67

PYMNTS

JUNE 10, 2020

The following Deep Dive examines how cross-border remittances are typically conducted via a correspondent banking model and details how these payments’ slow processing times and high fees are exacerbated by complex and overlapping government regulations. How Correspondent Banking Works.

Correspondent Bank 63

Correspondent Bank Correspondent Process Cross-Border 63

PYMNTS

JANUARY 20, 2021

Corporate finance teams were not simply tasked with finding ways to continue operations in a remote work environment as a result of the coronavirus crisis. There were cases where some of these finance teams could not even understand what their cash visibility looked like.”. The Biggest Pain Points, Revealed.

B2B 125

B2B Cross-Border Payments Correspondent Bank Cash Management 125

PYMNTS

JULY 8, 2020

Cross-border payments, once the exclusive domain of large businesses that had the resources to expand their operations overseas and afford the often-exorbitant costs of payment processing fees and international shipping, are growing ever more popular among small- to medium-sized businesses ( SMBs ).

Cross-Border 57

Cross-Border Cross-Border Payments API Correspondent Bank 57

Finextra

JUNE 28, 2025

Historically, this market was dominated by big banks and legacy remittance providers relying on an antiquated correspondent banking network. Banks and incumbents like Western Union layered on fees and hidden exchange rate markups – profiting from customers’ lack of transparency.

Cross-Border 52

Cross-Border Multi-Currency Embedded Finance Authorization 52

Fintech Finance

JANUARY 2, 2024

StoneX has announced that it is one of the first financial organizations to enable Swift ’s new leading-edge solution for cross-border payments. Cross-border payments have long been a complex area marked by ongoing regulatory and compliance changes, bank offline hours, and increasing competition.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Verification 59

Finextra

JUNE 30, 2025

A typical use case is the clearing and settlement of international payments. By removing the need for correspondent banks and facilitating direct transfers, digital currencies can improve transfer times and enhance the efficiency of cross-border payments. Trade finance is another area.

Digital Currency 52

Digital Currency Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement 52

PYMNTS

APRIL 5, 2016

These profits are coming from the 3–5 percent foreign exchange fees that banks can charge for conducting a cross-border transfer, often through the costs that get tacked on as a payment moves between corresponding banks. To India, And Beyond . Its rivals, of course, will be doing the same.

Cross-Border 73

Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

Fintech Finance

APRIL 17, 2024

The Payments division of StoneX ( StoneX Payments ) will supply NatWest with third-party delivery and international FX payment systems, allowing the bank’s corporate clients to transfer money to more nations with ease.

Cross-Border 52

Cross-Border Cross-Border Payments Correspondent Bank Payments 52

PYMNTS

DECEMBER 4, 2017

FinTech innovators are finally paying attention to the B2B sphere, and much of that focus has landed on the cross-border payments space — a notoriously clunky, expensive and opaque burden for many business payers. Traditional banks are often at the center of that global B2B payments friction. Regulatory Burdens.

B2B 41

B2B Cross-Border Payments Cross-Border Correspondent Bank 41

Fintech Finance

FEBRUARY 22, 2024

Numeral, the payment technology provider, today announces the support of Swift payments , enabling companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries, in addition to local European SEPA as well as UK Bacs, FPS, and CHAPS payments, from a single platform. “At

SWIFT 52

SWIFT Technology Cross-Border Payments Correspondent Bank 52

CB Insights

JANUARY 22, 2020

Enterprise payments network Ripple raised the highest amount of funding in the quarter — a $200M Series C round from SBI Group, Tetragon Financial Group, and Route 66 Ventures, which valued the company at $10B.

Blockchain 79

Blockchain Cryptocurrency Cross-Border Payments Correspondent Bank 79

Fintech Finance

JUNE 6, 2024

Nium , the global leader in real-time cross-border payments, today announced a partnership with BS2 , a digital bank in Brazil specializing in fintech solutions for businesses. ” The post BS2 Bank Chooses Nium to Support Global FX Settlements and Real-Time Payouts appeared first on Fintech Finance.

Settlement 52

Settlement Cross-Border Cross-Border Payments Correspondent Bank 52

The Fintech Times

FEBRUARY 21, 2024

Transaction data, particularly in the context of cross-border payments, has grown increasingly vital as transactions move towards near-real-time processing, with the goal of achieving real-time transactions. This shift necessitates a deeper understanding of transaction data than is commonly recognised.

APACS 59

APACS Legal Framework Finance Cross-Border 59

PYMNTS

JULY 6, 2017

Reports Wednesday (July 5) said the FSB released the results of a survey that found banks across the globe are reducing the number of correspondent banking relationships, used for cross-border payments, as they grow increasingly concerned about falling out of compliance with anti-money-laundering and other regulations.

Correspondent Bank 40

Correspondent Bank Correspondent Cross-Border Payments Cross-Border 40

The Payments Association

MAY 16, 2025

Merchants may be affected directly, through obligations arising from new legislation, or indirectly, through revised requirements placed on their acquirers, platforms, and payment providers. Amend commercial terms to define finality, dispute resolution, and fallback payment options.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

PYMNTS

APRIL 17, 2018

A new report by the General Council for Islamic Banks and Financial Institutions (CIBAFI) said the decline of correspondent banking relationships disproportionately impacts Islamic financial institutions (FIs). Islamic banks in Southeast Asia added that cash management services were most impacted for them.

Correspondent 44

Correspondent Correspondent Bank Wire Transfer Money Laundering 44