Remove Innovation Remove Interoperability Remove ISO 20022
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RT2: A strategic transformation for UK payment providers

The Payments Association

It enhances resilience, broadens access, improves interoperability, and enables innovation, thereby modernising the UK’s financial infrastructure. The latest updates deliver capabilities far beyond those of the legacy system, creating new opportunities to revolutionise services, reduce risk, expand market reach, and drive innovation.

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Nexus Empowers APAC Financial Institutions to Achieve G20 Cross-Border Payment Targets

Fintech News

Initially developed by the BIS Innovation Hub, Project Nexus aims to link domestic instant payment systems (IPS) through a single multilateral gateway, replacing the current patchwork of costly and complex bilateral connections. Eli Shoshani : Early participation allows banks to set themselves apart as leaders in innovation and efficiency.

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Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system. Addressing interoperability, scalability, and security challenges, Indonesia sets a global example for nations exploring similar initiatives.

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Why staying put is no longer the safe option for payments innovation

The Payments Association

Legacy systems are increasingly unreliable, expensive to maintain, and resistant to modern payment innovations. Regulations are tightening: Compliance with ISO 20022, PSD3, AML directives, DORA and evolving cybersecurity mandates requires payment platforms that are secure, reliable, flexible and scalable.

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How Swift is moving the global financial industry towards instant and frictionless payments

The Payments Association

Swift drives global interoperability and innovation, aligning with the UK’s National Payments Vision to enhance seamless, secure payments. This is an example of how the scale of the Swift network can be leveraged to interoperate market infrastructures to enhance the user experience.

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CBDCs in practice: What we’ve learned from the early movers

The Payments Association

In doing so, they risk missing the core innovation that digital money promises: the ability to transfer value directly, securely, and potentially without the need for intermediaries. Beyond technical proof points, these initiatives underscore the need for global interoperability. Flexibility is also crucial when it comes to custody.

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12 Years Ago: The First nexo Standards Transaction, a Milestone for European Payments

Finextra

Interoperability across multiple domestic and international card schemes without cobadging constraints. The initial protocols were refined, expanded, and formalized into a globally recognized suite of ISO 20022-based standards. The pilot demonstrated: No impact on customer experience: payment remained seamless at checkout.