Remove Correspondent Bank Remove Message Standards Remove Non-Bank
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RT2: A strategic transformation for UK payment providers

The Payments Association

According to the Bank of England, RTGS settles approximately £500 billion between banks each day—around a quarter of the UK’s annual GDP—in sterling central bank money. Democratised access will foster fintech-bank collaboration, driving innovation. RT2 is substantially expanding direct participation.

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ISO20022: The big shift to structured addresses

Finextra

Soon, ISO 20022, a messaging standard designed to improve how payments are processed and communicated, will become the global norm. ISO 20022 was introduced in 2004 and has since been part of a long and complex journey to improve international payment messaging. The benefits are far-reaching.

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Payment Industry Trends to Watch in 2024

Evolve Payment

In some situations, the nefarious hacker will replace the pay now button with a direct link to their bank account, all without a single notification to the customer or merchant. These new entrants and innovative solutions are challenging the dominance of traditional bank and card-based payment systems on a significant scale.