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.

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PYMNTS

DECEMBER 15, 2020

Head of Global Strategy and Payments for Global Transaction Services David Kretz said the solution aims to "remove friction and bring transparency to cross-border payments.". Scotiabank Launches Real-Time Payments For Businesses. Emirates NBD Debuts Its Enterprise Payment Hub.

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PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

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Fintech Finance

OCTOBER 21, 2024

Mastercard Move Commercial Payments aims to address existing challenges and capitalize on opportunities in commercial cross-border payments in an innovative way. Fully compatible with existing correspondent banking arrangements between respondents and correspondents.

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Fintech Finance

JUNE 5, 2024

Blockchain technology and cryptocurrencies will definitely be at the core of the evolution of correspondent banking and we are happy to partner with Ripple to be a part of this process. This partnership is a great example of two institutions coming together to augment their respective products and services.

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Finextra

JULY 8, 2025

Modernizing Cross-Border Settlement Before CIPS, RMB cross-border payments relied on clearing banks, correspondent banking, and Non-Resident Account (NRA) models—often resulting in delays and inefficiencies. At the end of each cycle, accounts are reconciled and cleared, ensuring transparency and operational integrity.

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Global Payments Real Time Gross Settlement (RTGS) Cross-Border Cross-Border Settlement 52

The Fintech Times

AUGUST 13, 2024

Earlier in August 2024, Nium applied for a Payment Institution Licence in Brazil, which would enable it to provide payment services to clients including managing funds locally in Brazilian Real (BRL) and real-time payments through real-time payment system Pix.

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Finextra

JUNE 29, 2025

Global non-cash commercial payments will grow at a CAGR of 11.3% 60% of corporate banks agree that cross-border real-time payments infrastructure brings a revenue opportunity. 56% of commercial clients are taking international/cross-border B2B payment services from fintechs.

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PYMNTS

OCTOBER 24, 2016

One of the biggest areas facing skepticism with blockchain technology and B2B payments is the idea that corporates don’t need real-time payments, as would be provided by Visa B2B Connect. Real-time payments, however, enable a company to wait as long as they want to without forcing the supplier to get paid late.

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PYMNTS

JULY 26, 2019

Increasingly, the financial services industry is targeting sluggishness in corporates’ cross-border payments, too, through technologies like blockchain and the development of faster payment rails around the globe. Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely.

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PYMNTS

JUNE 8, 2020

In the June Smarter Payments Tracker® , PYMNTS explores the latest in the world of smarter payments, including new remittance-as-a-service platforms from providers such as Nium, the prob lems associated with correspondent banking, and how COVID-19 is negatively impacting the cross-border payments industry.

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Fintech Finance

JANUARY 11, 2024

Developed by the FPC Cross-Border Payments Work Group, sponsored by Mastercard, the report delves into the history of cross-border payments, examining the evolution from ancient trade routes like the Silk Road to modern-day global financial systems.

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Faster Payments Council

MARCH 15, 2023

With the system joining the existing RTP system, both promising to modernize the way money moves and allow for greater use of instant payments, it seems the shift to real-time payments is 'inevitable'. Join our panel discussion on the real-time payments revolution. What are your options?

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Finovate

OCTOBER 21, 2024

These features include multiple settlement options that improve liquidity management, a multi-party arrangement to reduce counterparty and default risks, integration with existing SWIFT messaging systems, and compatibility with current correspondent banking relationships. Photo by Lea L on Unsplash

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PYMNTS

JULY 16, 2018

Citi announced Monday (July 16) the launch of Citi Payment Insights, a new service that gives institutional clients access to real-time payment information and the ability to action payments on demand via the CitiDirect BE electronic banking platform.

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Fintech Finance

MAY 29, 2025

Already connected into multiple local banks across North America, Latin America, Europe, Africa, and Asia, Conduit will use the capital to fuel expansion into additional markets and support an even broader range of traditional and digital currencies through its real-time payment rails.

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PYMNTS

NOVEMBER 18, 2019

For real-time payments, the infrastructure is there, and now comes the demand. He likened the strategy to the 80/20 rule, where the bank may make 20 percent of its revenues from payment services and 80 percent from account holdings. But, he added, there’s an incentive for merchants to shift to real-time payments.

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PYMNTS

NOVEMBER 21, 2018

Citi ’s Treasury and Trade Solutions (TTS) announced that it has expanded its Citi Payment Insights offering to more than 20 new markets, making it available in more than 70 markets.

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PYMNTS

JULY 31, 2019

Increasingly, the financial services industry is targeting slow speeds in corporates’ cross-border payments, too. Solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely through cryptocurrency, while others like the above-mentioned Visa B2B Connect and SWIFT gpi , aim to transform it.

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PYMNTS

OCTOBER 28, 2019

Account information service providers will have improved account visibility, and payment initiation service providers will be able to integrate with Western Union ’s payment network and correspondent banks. The expanded APIs align with the European open banking and PSD2 requirements that became effective in September.

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PYMNTS

OCTOBER 24, 2019

The latest Faster Payments Tracker examines developments in real-time payments with an emphasis on B2B cross-border transactions. FedNow , the Federal Reserve’s planned real-time payment system is not due to arrive until 2024, and it takes time for companies to realize new offerings.

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The Fintech Times

FEBRUARY 21, 2024

However, Arjeh van Oijen , head of product management, Icon Solutions , the banking transformation firm, notes that with the emergence of new cross-border payments facilities, this is going to change the banking system as we know it. The advantage is lower fees and 24×7 availability.

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The Fintech Times

FEBRUARY 28, 2024

Aleks Stefanovski, VP for strategy and business operations at Visa “Another barrier is de-risking by correspondent banks. Most cross-border payments are processed on infrastructure provided by correspondent banks. “Over the past decade, the risk appetite at correspondent banks has declined.

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PYMNTS

DECEMBER 20, 2018

The results come across hundreds of billions of dollars’ worth of payments each day, and across hundreds of financial institutions (FIs), with the roster including 60 of the largest banks in the world.

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Fintech Finance

JUNE 6, 2024

BS2 will use Nium’s Global FX product to lower FX costs and provide more real-time payouts between Brazil and popular trading corridors with China and the UAE.

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Segpay

JUNE 13, 2024

The Service Provider Showcase on FedNow Explorer includes a growing list of more than 100 payment processors, correspondents, banking operations, and application providers to help financial institutions connect and amplify their network. Accessibility: Available to all banks and credit unions.

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PYMNTS

SEPTEMBER 17, 2019

Community Banks Go Real Time. State-chartered financial institution Bankers’ Bank , which focused on providing correspondent banking solutions to community banks, recently announced it would become a funding agent for institutions that want to offer real-time payments via The Clearing House ’s RTP service.

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PYMNTS

DECEMBER 18, 2019

Reports in The Japan News said that MUFG and Recruit are collaborating on a possible digital currency with the potential to facilitate B2B payments, and with plans to launch their joint venture in the first half of next year. Credit Unions Embrace RTP. It’s moving slowly.”.

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The Fintech Times

FEBRUARY 21, 2024

I think it’s fair to say that Asia is currently at the forefront of innovations in payment systems. The region has distinguished itself through the establishment of bilateral payment rails, allowing for real-time payments between certain countries, such as Singapore and Malaysia, directly from mobile phones.

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PYMNTS

DECEMBER 23, 2019

It was in a convergence of these trends that Visa launched its real-time payments solution, Visa Direct , a technology enabling push payments onto recipients’ Visa cards. .

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PYMNTS

DECEMBER 17, 2019

Meanwhile, payments messaging firm SWIFT recently announced that its gpi service can now integrate into domestic real-time payment systems, enabling banks to wield gpi for real-time cross-border payments. It’s moving slowly.”.

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Evolve Payment

SEPTEMBER 29, 2023

More Instant Peer-to-Peer (P2P) Payments Waiting days for payments to clear will become a thing of the past in 2024. Instant payments will become the norm, enabled by technologies like real-time payment networks and blockchain.

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PYMNTS

FEBRUARY 8, 2018

“Making payments in RMB more digitized and [making] RMB cross-border payments faster, trackable and transparent in terms of fees will definitely support RMB internationalization.”.

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PYMNTS

OCTOBER 22, 2019

These businesses typically experience pains similar to those afflicting other companies’ B2B cross-border payments, even though they provide quick P2P remittance experiences for their customers. Consumers are not spared from the space’s frictions, either.

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PYMNTS

SEPTEMBER 6, 2018

… It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”. Africa As Greenfield Payments Opportunity. The digital asset facilitates the trade, and supplies important settlement instructions. IBM will be demoing the new project this October.

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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.

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PYMNTS

MARCH 12, 2018

To do a risk-free payment in real time, he said, is more appealing than might be seen with any other platform. Not an insignificant problem when cross-border transactions cost banks $170 billion annually in friction-related costs. To move to a real-time payments system is also a ponderous (and again, costly) task.

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