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

PYMNTS

AUGUST 16, 2019

Financial institutions are facing increased pressure to make cross-border payments fast and seamless as consumers grow used to instant P2P payments and such products in other sectors. More than 110 banks from Europe, Asia Pacific, Africa and the Americas are part of the SWIFT gpi, which has been in a pilot stage. innovations.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships. October 2024: TD Bank$3 BillionAML TD Bank was fined $3 billion, including a $1.3

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Finovate

OCTOBER 21, 2024

The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. Move Commercial Payments offers features like liquidity management, integration with existing SWIFT systems, and helps to reduce counterparty risk. with Lloyds Banking Group and UBS.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Visa FedNow 59

PYMNTS

JUNE 30, 2017

Banks, Ludwin said, are looking for better products to offer their clients when sending money from one business to another cross border. Banks, themselves, may also be a little skittish in the wake of the SWIFT/Bangladesh heist.

Blockchain 77

Blockchain B2B Payments Correspondent Bank 77

The Fintech Times

OCTOBER 21, 2024

By leveraging banks’ existing investments in Swift messaging infrastructure, a single technical connection also enables corridors and currencies to be added with minimal cost and resources. Our latest product innovation aims to directly address the pain points that are currently affecting the commercial cross-border payments market.

Cross-Border 52

Cross-Border Addressing Cross-Border Payments Visa 52

PYMNTS

NOVEMBER 21, 2018

Launched in July, Citi Payment Insights provides real-time payments visibility, including processing status and timelines, charges deducted across correspondent banks, the amount credited to the beneficiary and the ability to action payments on demand via its electronic banking platform.

Cross-Border 52

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 52

PYMNTS

MAY 3, 2019

. “These are all issues emanating from the traditional correspondent banking infrastructure,” explained Banking Circle CEO Anders la Cour at the time. “As a business owner, you want to minimize the amount of working capital you have tied up in the business to focus on productive assets.”

Global Payments 60

Global Payments Cross-Border Payments Cross-Border Small Business 60

PYMNTS

FEBRUARY 8, 2018

China’s renminbi (RMB) is one global currency that is pushing its international standing, but new data from SWIFT released earlier this month found 2017 was a mixed year for the currency. Earlier data from SWIFT released last year found the RMB slipped from fifth place to sixth in a ranking of global currencies. “In

B2B 44

B2B Cross-Border Payments Cross-Border Innovation 44

Finovate

APRIL 9, 2024

Perhaps most notably, there is a strong focus on innovation in the payments space, with multiple startups offering solutions to help businesses go international more easily, providing instant international payments, and facilitating the launch of card programs and financial products in emerging markets.

FinTech 52

FinTech Cross-Border Due Diligence AI 52

PYMNTS

OCTOBER 22, 2019

Transfers are passed between FIs until they reach intended recipients, and each bank adds extra steps and fees along the way. Global messaging firm SWIFT is easing some cross-border payment pains by enabling the approximately 11,000 FIs that use its network to send standardized payments information to each other, although much work is needed.

Cross-Border Payments 41

Cross-Border Payments Cross-Border P2P B2B 41

PYMNTS

FEBRUARY 20, 2018

“Although competition and innovations such as mobile or eBanking have made these payments more convenient, the bulk of clearing and settlement for cross-border payments still goes through traditional correspondent banks, which struggle to handle the higher-volume, lower-value retail payments,” the CPMI noted in its report.

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

DECEMBER 30, 2019

In an interview with PYMNTS , Ripple Senior Vice President of Business and Corporate Development Kahina Van Dyke explained why building new infrastructure from the ground up can be an effective way to combat friction in the legacy correspondent banking system that lacks transparency and is plagued by slow transaction speeds and high FX costs.

Innovation 42

Innovation Cross-Border Commercial Card B2B 42

PYMNTS

SEPTEMBER 24, 2019

This week, SWIFT picks the latter, while JPMorgan Chase grows its initiative using blockchain to make cross-border transactions, and Form3 announces a new international payment services that connects banks with global small business payments capabilities via application programming interface (API).

SWIFT 73

SWIFT Cross-Border Payment APIs and Integration Cross-Border Payments 73

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. Reports in the Financial Times this week highlighted the increasing competition in the market as Ripple continues to add banks to its XCurrent blockchain messaging system.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Blockchain 59

CB Insights

FEBRUARY 8, 2018

Moving money around the world is a logistical nightmare for the banks themselves. Today, a simple bank transfer — from one account to another — has to bypass a complicated system of intermediaries, from correspondent banks to custodial services, before it ever reaches any kind of destination.

Blockchain 78

Blockchain Bitcoin Correspondent Bank Cryptocurrency 78

The Fintech Times

MAY 7, 2025

He believes this focus has allowed Clear Junction to build a product that clients actively want. And all of a sudden, we had a product that sells itself. Stablecoins where SWIFT used to be That unpredictability is also changing how financial institutions move money. Theyre not using SWIFT anymore. Thats a tectonic change.

Stablecoins 45

Stablecoins Cross-Border SWIFT Correspondent 45

PYMNTS

JANUARY 9, 2019

That is geared toward eliminating pre-funding needs of banks to have foreign currencies on hand tied to destination currencies. Where capital is free to roam (in a way) beyond the confines of the traditional correspondent banking system, it can be deployed in other ways, making money cheaper to move, and speedier to move too.

Cross-Border 76

Cross-Border SWIFT Correspondent Bank Multi-Currency 76