Fintech Finance

MARCH 24, 2025

By integrating with RTGS.global’s instant settlement infrastructure, TransferMate will deliver seamless, real-time international payments for RTGS.global’s business customers, reducing reliance on traditional banking intermediaries and eliminating the risk associated with moving money cross-border.

Cross-Border 64

Cross-Border Cross-Border Payments B2B Settlement 64

The Fintech Times

NOVEMBER 8, 2024

Cross-border payments often lead to delayed settlements, creating a fragmented view of liquidity positions for companies. ” Eyes on tokenised asset settlement For payment processes, UBS Digital Cash uses a private blockchain network to which only the permissioned clients have access.

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Cross-Border Cross-Border Payments Payment Solutions Blockchain 59

Fintech Finance

DECEMBER 17, 2024

Issues associated with B2B payments can include the layering of unnecessary or expensive foreign exchange transactions on top of initial charges, slow processing and settlement times, and a lack of transparency over the status of funds as well as charges from the recipient bank.

Cross-Border 94

Cross-Border Cross-Border Payments Payment APIs and Integration B2B 94

PYMNTS

JULY 11, 2019

There has been, seemingly, a parade of announcements geared toward bringing B2B payments into the digital age, bringing about the end of paper, speeding the time for settlement of transactions and making payments across borders cheaper and more transparent. The settlement timeframe of a single day means, too, that there is no chargeback risk.

Correspondent Bank 67

Correspondent Bank Correspondent Blockchain Bitcoin 67

Fintech News

JULY 14, 2024

Partior, a fintech known for its global unified ledger based interbank rails for real-time clearing and settlement, has announced the first close of an over US$60 million Series B funding round led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group as new investors. Existing shareholders J.P.

Cross-Border 108

Cross-Border Correspondent Bank Multi-Currency Settlement 108

Fintech News

JUNE 4, 2024

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

Cross-Border Payments 106

Cross-Border Payments Cross-Border CBDC Settlement 106

Fintech Finance

MARCH 6, 2025

The service is fully operational and accessible via the banks mobile applications and branch networks, enabling seamless transactions across African borders. With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies.

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Cross-Border Payments Cross-Border Correspondent Bank Correspondent 52

Fintech Finance

OCTOBER 15, 2024

RTGS.global , the next generation settlement company revolutionising cross-border payments, has today announced the launch of a unique solution for Payment Service Providers (PSPs) that will enable them to offer cheaper and faster international payments to their retail and corporate customers.

Cross-Border 98

Cross-Border Liquidity Management Cross-Border Payments Correspondent Bank 98

The Fintech Times

APRIL 30, 2025

Currently, over 80 per cent of intra-African payments route through correspondent banks outside the continent and settle in foreign currencies such as the US dollar or the Euro. This collaboration with Circle marks a step towards compliantly leveraging stablecoins and blockchain infrastructure to boost the Onafriq payment network.

Cross-Border Payments 45

Cross-Border Payments Cross-Border Stablecoins Financial Inclusion 45

PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! DLT would also help in terms of cross-border payments, he said.

Digital Currency 94

Digital Currency Central Bank Distributed Ledger Technology (DLT) CBDC 94

Fintech News

AUGUST 12, 2024

BS2 also serves as Nium’s Brazilian Real (BRL) Correspondent Bank, assisting in real-time payment settlements for cross-border Pix transfers. BS2 is leveraging Nium’s Global FX product to reduce costs and enable real-time payouts between Brazil and key trading partners like China and the UAE.

Cross-Border 108

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 108

Fintech Finance

OCTOBER 21, 2024

Key features include: Near real-time payments, 24 hours a day, 365 days a year to help banks transform corporate trade payments and intra- and inter-company treasury flows where working capital efficiency is crucial. Fully compatible with existing correspondent banking arrangements between respondents and correspondents.

Cross-Border Payments 104

Cross-Border Payments Cross-Border Visa Near Real-Time 104

PYMNTS

AUGUST 1, 2019

A press release issued Wednesday (July 31) said ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize 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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ISO 20022 ISOs SWIFT Cross-Border 76

Fintech Finance

JUNE 6, 2024

BS2 will also join Nium’s network of partner banks, acting as Nium´s Brazilian Real (BRL) Correspondent Bank and assisting real-time payment settlement for cross-border transfers from Brazil’s Instant Payment Network, PIX.

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Settlement Cross-Border Cross-Border Payments Correspondent Bank 52

Fintech News

JULY 4, 2024

As stewards of monetary policy and financial stability, central banks need to grapple with AI’s legitimately game-changing potential while harnessing its capabilities to enhance their own operations. This could help address the decline in correspondent banking relationships, a concern highlighted in the BIS report.

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Central Bank AI Correspondent Bank Correspondent 103

Fintech Finance

MAY 29, 2025

To date, Conduit has saved clients over 60,000 hours in settlement times and generated fee savings worth over $55 million. This round of funding comes on the back of Conduit’s exceptional growth, with transaction volumes growing 16x through its platform between 2023 and 2024.

Cross-Border Payments 81

Cross-Border Payments Cross-Border Stablecoins SWIFT 81

PYMNTS

NOVEMBER 21, 2018

Working with HSBC , the authorities assessed contributions and feedback from corporates and commercial banks to discuss current pain points, potential future capabilities and various use cases of global payments and settlements. percent decline in the number of correspondent banking relationships in 2017 compared to the year before.

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Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

PYMNTS

DECEMBER 15, 2020

They pointed to their first clients as part of the collaboration, Slovenia-based payment processing company Bankart, which deployed Nets and Fabrick technology to launch its nationwide SEPA Instant Credit Transfer service with 15 bank customers.

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Innovation Cross-Border Payments Cross-Border Real Time Payments 94

Fintech Finance

JULY 19, 2024

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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Payments ISO 20022 Retail Payments Settlement 98

PYMNTS

JUNE 8, 2020

Dedicated remittance-as-a-service platforms have also emerged to take the burden off of banks and other companies handling cross-border payments, resulting in quicker settlements and lower fees for customers. Deep Dive: How Correspondent Banking Makes Remittances Sluggish And Expensive. About The Tracker.

Cross-Border Payments 56

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 56

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

Fintech Finance

AUGUST 12, 2024

BS2 also joined Nium’s network of partner banks, acting as Nium´s Brazilian Real (BRL) Correspondent Bank and assisting real-time payment settlement for cross-border Pix transfers. Nium has been present in the region dating back to 2017. Recent customer wins, include Ouribank, Treviso, OZ Cambio, and Frente.

Real Time Payments 98

Real Time Payments Cross-Border Payments Cross-Border Central Bank 98

CB Insights

JANUARY 22, 2020

Entrepreneurs have pitched applications for blockchain technology ranging from supply chain tracking to financial asset settlement, but the only one that has found adoption at any significant scale so far is cryptocurrency creation and trading. One of the reasons for this slip is that many products are still trying to find product market fit.

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Blockchain Cryptocurrency Cross-Border Payments Correspondent Bank 79

PYMNTS

JUNE 30, 2019

And also in June, one day before the Libra news broke, MoneyGram and Ripple struck a two-year strategic partnership to use Ripple’s xRapid product and leverage the XRP cryptocurrency for foreign exchange settlements in MoneyGram’s cross-border payments. It’s an opportunity, Van Dyke told PYMNTS, that we’ve never had before. The Roadmap. “I

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B2B Cross-Border Cross-Border Payments Payments 109

Finovate

OCTOBER 21, 2024

However, many businesses still struggle with cross-border payments, frustrated by hidden costs and unpredictable settlement speed. Mastercard Move Commercial Payments offers more than just real-time settlement. The tool also includes several features designed to enhance its value for banks.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Visa FedNow 59

PYMNTS

APRIL 29, 2020

Speed, for instance, is an essential component of crypto transactions, making it difficult for many of these businesses to find a banking provider that can address that need. “The main advantage of cryptocurrencies is nearly-instant settlement,” he said. “So, So, the fiat transaction leg should also be fast, or nearly instant.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

The Fintech Times

OCTOBER 21, 2024

Its new solution boasts settlement options, giving banks more flexibility to optimise liquidity efficiencies, without impacting FX and deposit-related bank revenue. Large clearing banks can extend the service to their institutional customers with minimal changes to their current processes.

Cross-Border 52

Cross-Border Addressing Cross-Border Payments Visa 52

PYMNTS

JULY 26, 2019

With correspondent banking relationships on the decline, financial institutions are looking for new — and faster — ways of moving money around the world, too. Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely. This, of course, means faster global payments.

Cross-Border Payments 64

Cross-Border Payments Cross-Border Innovation Correspondent Bank 64

PYMNTS

JUNE 30, 2017

Banks, themselves, may also be a little skittish in the wake of the SWIFT/Bangladesh heist. Ludwin said that the correspondent banks have begun pulling back from correspondent banking because of the increasing regulatory burden of being an intermediary bank.

Blockchain 77

Blockchain B2B Payments Correspondent Bank 77

The Fintech Times

AUGUST 13, 2024

BS2 has also joined Nium’s network of partner banks, acting as Nium’s BRL Correspondent Bank and assisting in real-time payment settlement for cross-border Pix transfers.

Cross-Border Payments 69

Cross-Border Payments Cross-Border Real Time Payments Correspondent Bank 69

PYMNTS

OCTOBER 6, 2016

“GPII [Global Payments Innovation Initiative] boasts settlement within a signal day,” Ripple wrote. “It’s adding energy to the collaborative nature of the community,” she said, “to bring innovation into corresponding banks and to continue to reshape the future of corresponding banking.”

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SWIFT Global Payments Innovation Cross-Border 75

The Fintech Times

FEBRUARY 21, 2024

. “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.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

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.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 59

PYMNTS

SEPTEMBER 11, 2019

The new blockchain-enabled solution aims to bridge international payments infrastructures, schemes and banks via a Mastercard clearing and settlement network. More than 300 financial services firms, technology companies, banks, regulators and associations are part of R3’s Corda ecosystem.

Cross-Border Payments 51

Cross-Border Payments Cross-Border Visa Blockchain 51

PYMNTS

JULY 31, 2019

While real-time settlement is commonplace in many European Union (EU) countries, an international payment system that functions across all European borders — and beyond — has yet to be realized. Mastercard has instead purchased cross-border transaction providers to expand its payments networks and offer similar solutions.

Cross-Border Payments 72

Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

FICO

FEBRUARY 14, 2017

Any banks that are part of the international financial markets, through a remittance business or the clearing and settlement of major foreign currencies are now tightly inter-connected with overseas banks. Therefore, non-compliance could lead to the loss of these banking relationships and access to important capital markets.

Financial Crimes 61

Financial Crimes Crime Compliance Correspondent Bank 61

PYMNTS

FEBRUARY 20, 2018

Payments experiences are far from ubiquitous from market to market, however, and a global payments settlement agency is now pressing for faster cross-border payments at a global scale. In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level.

Cross-Border Payments 43

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