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Temasek-backed Partior Ledger Expands Following US$60M+ Series B Investment

Fintech News

Traditional cross-border payments encounter various challenges, including delays, high costs, lack of transparency, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks.

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RT2: A strategic transformation for UK payment providers

The Payments Association

This is more than 'coding to the spec'; different and new software is required by originating institutions, correspondent banks, intermediate banks, and even regulators or central banks to realise the advantages." The new system features a component-based design, allowing for the isolated recovery of specific data.

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Key learnings from 2024’s biggest financial crime fines

The Payments Association

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

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How APIs And Improved Onboarding Can Accelerate Cross-Border SMB Payments

PYMNTS

“The whole process in the financial institution is still very unintegrated, and there’s a lot of different systems that don’t communicate within themselves and a lot of manual procedures that are not scalable.”. which then communicates with the recipient’s American bank. Problems With SMB Cross-Border Payments.

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BIS: Central Banks Need to Embrace the AI Era to Stay Ahead of Financial Efficiency

Fintech News

In payments, AI-powered systems can enhance fraud detection and streamline cross-border transactions, potentially revitalising correspondent banking relationships that have dwindled due to regulatory pressures. This could help address the decline in correspondent banking relationships, a concern highlighted in the BIS report.

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Crypto Businesses Overcome The Challenge Of Getting Banked

PYMNTS

Because the cryptocurrency space remains in its relative infancy, and because it has been marred with a high volume of negative press over its years, banks may not be able to understand whether a business is truly bankable or not. ius, “but also understanding if the business model is rational, or just another get-rich-quick scheme.”

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B2B Payments, SWIFT And In The Cloud

PYMNTS

Streamlining the flow of information sent along with funds remains critical, but doing business in different countries carries a set of procedural, administrative and security hurdles that demand new ways of interaction. Friction abounds in the world of B2B payments, especially amid international payments across far-flung supply chains.

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