Remove Correspondent Bank Remove ISO 20022 Remove Settlement
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RT2: A strategic transformation for UK payment providers

The Payments Association

RT2: Renewed real-time gross settlement marks transformation for UK payment providers 9 June 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? RT2, the UK’s new Real Time Gross Settlement service, and its transformative impact on the payments ecosystem. Why is it important? What’s next?

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Nexus Empowers APAC Financial Institutions to Achieve G20 Cross-Border Payment Targets

Fintech News

Bottomline helps financial institutions modernise their payments infrastructure and enable multi-rail connectivity, while also supporting their readiness for industry-wide mandates and initiatives such as ISO 20022 and those similar to Project Nexus. This removes layers of fees and reduces settlement time.

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Stablecoins to streamline Cross Border Payments

Finextra

This is evidenced by major banks and Card Companies beginning to offer stablecoins. Stablecoins will also help institutions better manage their currency exposures worldwide while providing instant and final settlement. External This content is provided by an external author without editing by Finextra.

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SWIFT Readies ISO 20022 For X-Border Payments

PYMNTS

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. “Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its announcement.

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How Will the Cross-Border Payments Space Evolve in 2024? With Swift, OpenPayd, Chargebee and More

The Fintech Times

. “Swift’s own strategy for instant and frictionless transactions is closely aligned with the G20 targets, and 89 per cent of transactions on our network now reach the recipient bank within an hour – ahead of the G20’s 2027 goal of settlement within an hour for 75 per cent of international payments.

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EXCLUSIVE: Bank of England’s CHAPS Payments System Goes Down – The Payments Industry Reacts

Fintech Finance

Meanwhile, financial institutions and the largest businesses in the UK use CHAPS to settle foreign exchange transactions and money market settlements. Many more financial institutions also access the CHAPS system indirectly and make payments via direct participants which is knowns as agency or correspondent banking.

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Merchant-facing regulation: What merchants need to know in 2025

The Payments Association

While merchants wont be regulated directly, accepting stablecoins as payment will require confidence in the legal status, settlement reliability, and AML compliance of the tokens and intermediaries involved. Next steps/action required: Consult with finance, IT, and ERP teams to confirm readiness for structured ISO 20022 fields.