The Payments Association

JUNE 9, 2025

It enhances resilience, broadens access, improves interoperability, and enables innovation, thereby modernising the UK’s financial infrastructure. RT2 offers four key advancements: enhanced resilience, expanded access, wider interoperability, and improved functionality. Why is it important? What’s next?

ISO 20022 88

ISO 20022 Payment APIs and Integration ISOs Interoperability 88

Fintech News

JULY 14, 2024

Traditional cross-border payments encounter various challenges, including delays, high costs, lack of transparency, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks.

Cross-Border 111

Cross-Border Correspondent Bank Multi-Currency Settlement 111

Fintech News

DECEMBER 10, 2023

Whether you’re a small company or a large bank, the challenge remains: ensuring that every payment instruction contains the correct data in the right format.” ” For FIs, the consequences are equally daunting, as they face expenses associated with the correspondent banking network.

Addressing 122

Addressing Fraud Prevention Financial Inclusion Payments 122

PYMNTS

APRIL 8, 2020

The program is an “interoperable, single API” solution and will help financial institutions (FIs) and lenders easily verify accounts and identities to start getting the loans out. government in the wake of the coronavirus pandemic.

Correspondent Bank 56

Correspondent Bank Authentication Correspondent Interoperability 56

Nanonets

SEPTEMBER 8, 2023

ACH transfers are predominantly confined to the United States due to the considerable coordination challenges associated with expanding their interoperability on a global scale. A well-established network of correspondent banks facilitates cross-border and cross-currency transfers with typically only one or two intermediaries involved.

Wire Transfer 52

Wire Transfer Wires Wire ACH 52

Finextra

JUNE 30, 2025

Monthly verification of reserves will become standard practice, giving users confidence in the stability of these digital assets. Stablecoins offer the potential to make international transfers faster and more cost-effective compared to some traditional correspondent banking methods.

Stablecoins 52

Stablecoins Finance Cross-Border Payment APIs and Integration 52

Fintech Review

MARCH 5, 2025

How Cross-Border Payments Work International payments rely on a network of correspondent banks. When sending money abroad, banks often do not have direct relationships with every foreign institution. It does not move money but provides messaging services between banks. Instead, they use intermediaries to transfer funds.

Cross-Border Payments 76

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 76