Fintech Finance

FEBRUARY 22, 2024

With Numeral, companies can programmatically manage payments through the banks and schemes that best fit their needs without building multiple integrations.

SWIFT 52

SWIFT Technology Cross-Border Payments Correspondent Bank 52

PYMNTS

JANUARY 20, 2021

They go through multiple touchpoints, and if for any reason some data is disappearing, nobody becomes aware until a few days later when it hits reconciliation or some kind of cross-checking.". "Let's say payments are moving through multiple systems before they get processed," he said. Optimizing Payment Paths.

Correspondent Bank 52

Correspondent Bank Correspondent Payments Volume 52

PYMNTS

AUGUST 16, 2019

Forty-seven percent of treasurers said they want visibility into the cost and deductions from a transaction, and 64 percent want real-time tracking capabilities to help reduce the rate of reconciliation errors. That resistance doesn’t reflect the needs of smaller, regional banks. innovations.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

APRIL 24, 2017

BBVA plans to offer Ripple’s service to a small group of clients in the coming weeks as a tryout, giving corporate customers a quicker and cheaper way to pay overseas suppliers and execute other international transactions, said Alicia Pertusa, head of the lender’s Digital Transformation in the Investment Banking unit.

Cross-Border Payments 43

Cross-Border Payments Transactions Cross-Border Blockchain 43

The Payments Association

MAY 16, 2025

Merchants will need to ensure PSPs and platforms are authorised to handle regulated stablecoins and that cash flow and reconciliation processes can accommodate digital assets. This standard introduces structured, enriched data formats for payment messagesimproving interoperability, fraud detection, and reconciliation.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Nanonets

APRIL 3, 2024

Bank Reconciliation: They reconcile bank statements with the company's financial records to ensure consistency and identify discrepancies. Reconciliation and Review Regular reconciliation of bank accounts, credit card statements, and other financial accounts is crucial to ensure accuracy and identify discrepancies.

Automation 74

Automation Payment APIs and Integration Reconciliation Financial Analysis 74

PYMNTS

JULY 16, 2019

In other corporate payment scenarios like cross-border intercompany payments, other technologies like blockchain and tokenization allow businesses to bypass the traditional (and sluggish) correspondent banking system and move money in real time.

Payment APIs and Integration 60

Payment APIs and Integration B2B API Payments 60

PYMNTS

DECEMBER 17, 2019

Citi noted that traditional methods of cross-border accounts receivable are inefficient, involving multiple collections service providers with silos between invoicing, collections and reconciliation. If you are doing open banking (through those other rails), you are still going through the corresponding bank system,” he told Webster.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

APRIL 11, 2016

For instance, some startups operating in the blockchain sphere are looking at how to disrupt corresponding banking, the strategy used by FIs to complete cross-border transactions. But Horowitz said the interviews with corporate banking clients suggest otherwise. “We We don’t think the pain point is the fees,” he said.

Cross-Border 40

Cross-Border Cross-Border Payments Blockchain Correspondent Bank 40

The Fintech Times

FEBRUARY 21, 2024

“This creates the opportunity for correspondent banks to route and settle payments via a real-time payment infrastructure rather than the Real Time Gross Settlement rail, the only option previously. The advantage is lower fees and 24×7 availability.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

SEPTEMBER 17, 2019

“Because we are a bank [as well as a payments processor], we can deposit their credit card proceeds the same day, including weekends, at no additional cost,” explained WePay CEO Bill Clerico in an interview at the time. Community Banks Go Real Time. According to the companies, speed is a crucial benefit of such a tool.

B2B 43

B2B RTP Bankers' Bank Funding Agent 43

PYMNTS

NOVEMBER 18, 2019

He noted, too, that real-time payments, tied to the universal financial messaging scheme known as ISO 20022, have rich messaging attached, which allows for easier reconciliation of transactions at the back end. That means cost savings for firms as they reduce manual processes and paperwork, he said.

Real Time Payments 49

Real Time Payments Consumer ISO 20022 Online and Mobile Banking 49

PYMNTS

FEBRUARY 8, 2018

Blockchain also has the potential to play a part in this,” the executive added, pointing to SWIFT’s efforts in its gpi initiative to collaborate with banks and deploy blockchain technology to enhance real-time payments reconciliation.

B2B 44

B2B Cross-Border Payments Cross-Border Innovation 44

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

Nanonets

SEPTEMBER 8, 2023

In contrast, while not as swift, ACH transactions bring several advantages—they are typically routine, include comprehensive transaction details, allow for recall or dispute in case of errors, and generate electronic records, streamlining the reconciliation process. Wire transfers, on the other hand, enjoy extensive global acceptance.

Wire Transfer 52

Wire Transfer Wire Wires ACH 52

Fintech Labs Insights

MARCH 24, 2016

Moreover, with Valuto we cut out the middlemen by offering domestic, localized payouts and pay-ins from our network of bank accounts. A typical cross-border transfer passes through several correspondent banks, each taking a percentage off the initial payment amount. We will go live with our first integration March of this year.

Multi-Currency 17

Multi-Currency API Payment APIs and Integration Accounts 17

The Fintech Times

APRIL 22, 2025

The solution empowers businesses to pay suppliers in their local currencies, reducing exchange rate and reconciliation costs, with full transparency on the payment reference. In addition, businesses will be able to process USD payouts to over 170 countries.

Business Payments 84

Business Payments B2B Cross-Border Cross-Border Payments 84

Fintech Finance

APRIL 22, 2025

The solution empowers businesses to pay suppliers in their local currencies, reducing exchange rate and reconciliation costs, with full transparency on the payment reference. In addition, businesses will be able to process USD payouts to over 170 countries.

Business Payments 59

Business Payments Payment Solutions Cross-Border Payment APIs and Integration 59

Fintech News

JANUARY 22, 2025

These initiatives promise to reduce financial risks associated with market volatility and streamline reconciliation efforts. This lack of preparedness is particularly alarming as it can lead to increased operational friction and costs, especially within correspondent banking networks that rely on seamless transactions.

Real Time Payments 123

Real Time Payments APACS ISO 20022 Cross-Border 123

The Payments Association

MAY 19, 2025

statutory trust accounts, reconciliation, and external audits). Review safeguarding processes in light of likely FCA standards, including trust arrangements, reconciliation, and independent audits. Conduct a Part 4A authorisation gap analysis to understand required controls, documentation, and capital requirements.

Compliance 88

Compliance Stablecoins Regulations Payments 88