Correspondent, Funds Transfer and SWIFT

Why payment transparency is critical to the future of correspondent banking

The Payments Association

MAY 9, 2025

As financial crime evolves, correspondent banks must prioritise wire transfer transparency to meet global regulations and safeguard the financial system. Correspondent banking is vital in facilitating global trade, enabling cross-border remittances, and connecting emerging markets to the international financial system.

Correspondent Bank

Correspondent Bank Correspondent ISO 20022 Wire Transfer

Empowering Financial Institutions: An Interview with the CEO of Almond FinTech

Fintech Review

NOVEMBER 20, 2024

Through identifying the optimal cryptocurrency, the optimal blockchain, as well as the optimal exchange for each individual settlement, our SOE empowers financial institutions and their diverse customer sets with the fastest, most cost-efficient cross-border funds transfer technology available — regardless of location.

Cross-Border

Cross-Border Cross-Border Payments Multi-Currency FinTech

What is SWIFT?

Payment Savvy

JUNE 18, 2020

According to analysts, in 2012, it was observed that SWIFT facilitated up to $6 trillion per day. However, contrary to what most people think, SWIFT does not do any of the fund transfers. So, what is SWIFT? What is SWIFT? A Brief History of SWIFT. SWIFT was founded in 1973 in Brussels.

SWIFT

SWIFT Funds Transfer Facilitators Correspondent Bank

Webinars

Breaking The Commerce Bottleneck: Your SAP Exit Plan Starts Now

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Wise Platform Boosts Global Payments with Enhanced Infrastructure for Faster, Cheaper Cross-Border Solutions

Fintech Finance

OCTOBER 21, 2024

Rising Demand for Correspondent Services Wise Platform’s Correspondent Services, launched at Sibos last year in collaboration with Swift , allows partners to send and receive international payments instantly.

Cross-Border

Cross-Border Global Payments Cross-Border Payments Multi-Currency

TransferWise On The Faster Future Of Cross-Border Payments

PYMNTS

OCTOBER 16, 2020

The traditional correspondent banking network is one major speedbump that stops financial institutions (FIs) from providing speedy, inexpensive, cross-currency and cross-border transfers, Lembo explained, but financial services providers can adopt new technology and approaches to safely streamline these transactions.

Cross-Border Payments

Cross-Border Payments Cross-Border Correspondent Bank Correspondent

Real-Time Innovators Bring Data To Corporates

PYMNTS

DECEMBER 15, 2020

Bank Of America Wields SWIFT gpi. Bank of America has built a new solution using SWIFT's gpi rail, which integrates with domestic rails, to enable cross-border payment tracking for its corporate customers. The solution is made possible through the adoption of the funds transfer service Interac eTransfer for Business.

Innovation

Innovation Cross-Border Payments Cross-Border Real Time Payments

ACLEDA Bank and BPC Celebrate 10 years of Driving Next-generation Banking in Cambodia

Fintech Finance

APRIL 8, 2025

Concurrently, BPC’s customer service portal opened up digital self-service channels for tasks like PIN changes, funds transfers, and utility payments. In addition to innovations in ATM Management self-service channels, ACLEDA utilised the BPC technological platform to upgrade merchant POS acceptance functionality.

PCI DSS

PCI DSS ATM Debit Card Accreditation

Swift’s Global Payments Initiative Signs 73 New Banks

PYMNTS

JUNE 28, 2016

As of today, 73 new banks have signed on to Swift’s Global payments initiative. Banking officials from over 40 institutions around the world have also paticipated in workshops in various cities throughout this spring to help create a plan for correspondent banking called “the digital transformation of cross-border payments.”

Payment Initiation

Payment Initiation Global Payments Cross-Border Payments Cross-Border

Meet Facebook Libra’s Founding Architects

PYMNTS

JUNE 28, 2019

Several European banks, for example, are collaborating on a pilot program that will enable them to use SWIFT global payments innovation (gpi) through the pan-European TARGET Instant Payment Settlement (TIPS) rail. The SWIFT gpi pilot is not the only partnership aimed at improving the cross-border payments infrastructure.

Cross-Border

Cross-Border Cross-Border Payments Deposit Account SWIFT

ACH vs. Wire Transfers: Which Is Right for You?

Nanonets

SEPTEMBER 8, 2023

First, let's delve into the mechanics of ACH and Wire transfers, followed by an exploration of their distinctions, guidance tailored for small businesses, and concluding with instructions on establishing ACH and Wire processes. The sender's bank transmits a message through a secure messaging service like SWIFT or Fedwire.

Wire Transfer

Wire Transfer Wire Wires ACH

Deep Dive: Emerging Response To B2B, P2P Cross-Border Payments Pain

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

Cross-Border Payments Cross-Border P2P B2B

International Payments Group Champions Faster Cross-Border Payments

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

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

Payment Rails Search For Harmony In B2B Payments

PYMNTS

DECEMBER 18, 2019

The solution will first facilitate electronic funds transfers (EFTs), which move over ACH rails. Though M10 isn’t the only new rail to have emerged, the company said it wants to bypass the current interbanking system, which is still in use by even newer rails launching, like SWIFT’s gpi service. “If

B2B

B2B Credit Union Electronic Funds Transfer (EFT) RTP

Payments Space

Why payment transparency is critical to the future of correspondent banking

Empowering Financial Institutions: An Interview with the CEO of Almond FinTech

What is SWIFT?

Webinars

Wise Platform Boosts Global Payments with Enhanced Infrastructure for Faster, Cheaper Cross-Border Solutions

TransferWise On The Faster Future Of Cross-Border Payments

Real-Time Innovators Bring Data To Corporates

ACLEDA Bank and BPC Celebrate 10 years of Driving Next-generation Banking in Cambodia

Swift’s Global Payments Initiative Signs 73 New Banks

Meet Facebook Libra’s Founding Architects

ACH vs. Wire Transfers: Which Is Right for You?

Deep Dive: Emerging Response To B2B, P2P Cross-Border Payments Pain

International Payments Group Champions Faster Cross-Border Payments

Payment Rails Search For Harmony In B2B Payments

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