Finextra

JULY 27, 2025

Emergence of SWIFT & RTP: The 1980s–1990s saw global messaging standards (MT-103, MT-202) and real-time rails (Fedwire, TARGET2) democratize cross-border settlement but reliance on intermediaries, queue times, and compliance checks remained major pain points. It expresses the views and opinions of the author.

CBDC

Open Banking

JANUARY 13, 2025

Alongside the Bill, open banking will play an important role in carrying forward the Governments National Payments Vision , fostering competition, innovation and consumer choice in the payments landscape. The UK pioneered this financial innovation, and our Standard keeps on providing a blueprint for many jurisdictions across the globe.

Message Standards

Open Banking

SEPTEMBER 9, 2024

The delivery of VRP for sweeping functionality opens significant opportunities for fintechs to collaborate with these banking providers, introducing new and innovative financial services to their customers. By leveraging sweeping functionality, third-party providers (TPPs) can help drive the next wave of financial innovation.

Innovation

Fintech Finance

MARCH 1, 2024

The survey results highlight the immediate market opportunity for FIs to capitalize on existing customer demand for intelligent payment routing and embedded banking services enabled by ISO 20022 messaging standards. ” The post 63% of US Businesses Will Use ISO 20022.

ISO 20022

Fintech Finance

SEPTEMBER 24, 2024

Our selection of Payments To Go was driven by the need for a robust instant payments platform that supports our growth and innovation plans, particularly as we expand our commercial business,” said Sharokin Badal, SVP, Director of Deposit and Treasury Services at First Pacific Bank.

ISO 20022

PYMNTS

MARCH 17, 2020

Simply put, the back-office systems are ill-equipped to handle the demands of technological innovation, especially as financial services cross channels. As Caldeira told PYMNTS, “You need to integrate all these networks together to exchange the messages … nothing else can happen without industry-level agreements.”.

Cross-Border

PYMNTS

JANUARY 26, 2021

Citi is accelerating its migration to the ISO 20022 payments messaging standard and has tapped a third-party FinTech to aid in the process. Citi is using Volante’s VolPay for ISO 20022 Migration technology to build out its core ISO 20022 capability, which will allow the bank to send and receive messages that use the standard.

ISO 20022

Payments Source

MARCH 12, 2019

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

ISO 20022

Fintech Finance

APRIL 12, 2024

Finzly , the pioneering provider of modern money movement systems to financial institutions, has announced its achievement as one of the first Third-PartyService Providers (TPSP) to be certified for compliance to ISO 20022 messaging standards for Fedwire.

ISO 20022

Finextra

MAY 7, 2024

Stronghold, a leader in innovative digital payment solutions, today announced its acquisition of 20022 Labs, a pioneer in advancing the ISO 20022 financial messaging standard.

ISO 20022

Fintech Finance

OCTOBER 22, 2024

Delivered as Temenos SaaS, PSPs also benefit from Temenos’ continuous updates service, helping them support changes in regulations and new messaging standards globally. The opportunities to improve the cross-border payments experience are wide open to those who are looking to innovate and lead the market.

Cross-Border Payments

PYMNTS

AUGUST 31, 2017

With initiatives like the Faster Payments Task Force and the Secure Payments Task Force, the Fed is pushing for innovation and progress in the nation’s payments infrastructure and market. Sapenaro said B2B payments, too, are finally experiencing innovation and progress, but it still has a long way to go.

Federal Reserve

PYMNTS

NOVEMBER 27, 2019

The ISO 20022 payments messaging standard — and faster payment networks’ adoption of it — has proven to be a significant value-add to financial service providers’ faster payments offerings. The world is moving more toward standards, and ISO is one of them,” said Halpin.

ISO 20022

PYMNTS

MARCH 21, 2017

But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need. Further, not all internal banking and corporate systems can support the XML format that has gained traction in promoting ISO 20022 standardization. Industry Innovation.

ISO 20022

PYMNTS

AUGUST 16, 2019

Many are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets, including with TCH’s RTP system in the U.S. Despite ISO 20022’s potential, there are barriers to it becoming the universal standard.

Cross-Border Payments

The Fintech Times

JULY 17, 2024

Two firms combining forces to make this simple and more seamless are Global Digital Finance (GDF), the global members association and platform for open innovation in digital assets in financial services and the Global LEI Foundation (GLEIF), the global not-for-profit organisation.

Best Practices

Fintech News

AUGUST 8, 2024

The Role of Swift in the Securities Space It is important to highlight Swift’s extensive role beyond cross-border payments, noting that approximately 50% of Swift traffic is related to securities, with peaks reaching 26 million messages per day.

ISO 20022

Fintech Finance

SEPTEMBER 10, 2024

There is also the global shift to ISO 20022 messaging standards. Tom Hewson, CEO at RedCompass Labs, comments : “From a process, skill, and expertise point of view, payments innovation and market share is being seized by a few big banking players who are widening an already significant competitive gap. AI can help.

Instant Payments

Fintech Finance

MAY 13, 2024

The certification, which enables and supports compliance to ISO 20022 messaging standards for Fedwire, applies to four of Finastra’s payment processing solutions, facilitating increased innovation for financial institutions across the United States.

ISO 20022

Fintech News

DECEMBER 10, 2023

Towards this end, financial software company ti&m is aiding its clients who are innovators in incorporating ChatGPT into banking and regular activities. Customers are quickly embracing these AI-driven LLMs, but banks are cautiously advancing, prioritising data protection.

FinTech

Fintech News

JUNE 12, 2024

The Bank for International Settlements (BIS) Innovation Hub ‘s Point Zero Forum 2023 roundtable brought together key stakeholders and leaders from both the public and private sectors to discuss opportunities and challenges in cross-border payments.

Cross-Border Payments

PYMNTS

JANUARY 17, 2017

The group rolled out a resource for developers that create solutions for financial service providers and FinTech innovators to help these businesses link customer accounts to Faster Payments. According to Faster Payments, a resource to help developers map between these two messaging standards is also aligned with the U.K.’s

Faster Payments

The Payments Association

JANUARY 31, 2025

While traditional financial institutions had decades to develop systems for compliance, the crypto sectors rapid innovation has left regulators struggling to keep pace. Implementing Travel Rule compliance requires the development of new technical standards and tools, many of which are still in their infancy.

Travel Rule

PYMNTS

DECEMBER 21, 2018

Liz brings a proven skillset to the company, including specialist expertise in clearing and settlement, and the development of innovative payment solutions in wholesale, corporate and retail banking,” Yates said. “We David Yates, the president of new payments platforms for Mastercard, said he’s very excited about the hire.

Visa

PYMNTS

OCTOBER 10, 2016

ISO 20022, which is designed to set the tone for global financial industry messages, provides a standardized approach to building messaging standards across financial services. As Throckmorton pointed out, it’s not about moving money but more about making processes better, more standard and more secure.

Same Day ACH

PYMNTS

NOVEMBER 2, 2017

But there are some positive forces at work, too, that encourage treasurers to become progressive, innovation-embracing figures within the enterprise, said Davey. Two innovations in the financial services space in particular are helping treasurers take on their more strategic roles within their organizations, he said. “It

Risk

PYMNTS

NOVEMBER 19, 2020

This week’s round-up of the latest innovations in payment rails for B2B payments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. Payments Canada President and CEO Tracey Black said RTR will help both businesses and consumers drive long-term economic growth.

B2B

PYMNTS

MARCH 14, 2019

And there, Kohli said, innovation is helping corporates adapt to and manage these global risks. The rise of third-party payment providers, and the opportunity for traditional institutions to collaborate with them, has also opened doors for cross-border payments innovation. Treasurers’ Biggest Worries.

Global Payments

PYMNTS

SEPTEMBER 11, 2019

According to the Real-Time Payments Innovation Playbook , 26 percent of cross-border businesses rely on international wire transfers, while the next most common method is by paper check (20 percent). One-third of companies surveyed in the Real-Time Payments Innovation Playbook planned to implement them within the next three years.

Cross-Border Payments

Open Banking

JULY 23, 2024

There are now 10 million consumers and small businesses who have been empowered to take advantage of the benefits of open banking and manage their financial lives in new and innovative ways. Support regulated third party providers and banks and building societies to use OBL’s Open Banking Standards.

Small Business

Open Banking

JUNE 28, 2024

Open Banking Limited (OBL) is pleased to announce the publication of the Open Banking Standard version 4.0, This is the first major release since 2018 and includes important mandatory updates to the security profile and widely recognised international messaging standards (ISO 20022). following approval by the Trustee.

ISO 20022

PYMNTS

JULY 9, 2020

There’s no single path to payments infrastructure innovation. And still for others, like InstaReM, payments innovation involves a mix of infrastructure. Below, PYMNTS rounds up the top stories in payment rail innovation. For others, including AeroPay and Oxbury Bank, the journey involves adding value onto existing rails.

ISO 20022

PYMNTS

APRIL 25, 2019

It will also enable instant peer-to-peer money transfers between friends and family via smartphones, the companies noted, adding that the system was developed on ISO messaging standards. The firm said a “majority” of financial institutions and accounts in Saudi Arabia will be able to access real-time payments functionality.

Real Time Payments

PYMNTS

JANUARY 7, 2021

Rather than viewing payments and data as two "parallel tracks," initiatives like the ISO 20022 messaging standard have helped to fuel their coupling. As Thakur noted, the opportunity to consolidate complex systems through treasury and banking integrations is vast. Emerging Ecosystems. Corporate Priorities Ahead.

Cross-Border

The Fintech Times

JULY 20, 2024

This has included using new technology and messaging standards (ISO 20022) to improve performance, data quality and operational efficiency. “Unfortunately, the development of NPA has been delayed many times and we are still awaiting the delivery of NPA to really propel the UK’s payments systems into the new digital age. .”

Payments

PYMNTS

NOVEMBER 18, 2020

For the banks themselves, noted Volante’s Scaffidi, there is the opportunity to offer a range of value-added services to their clients – but he added that 40-year-old legacy systems serve as hindrances to moving quickly toward innovation. Speeding time to market is critical as corporates are pushing banks for more innovation.

Real Time Payments

PYMNTS

NOVEMBER 2, 2020

Interoperability will get a boost with messaging standards such as ISO 20022. Looking ahead, 2020 will be a year that has been marked by payments innovation, bringing B2B ever closer to digitization and verticalization. Depending on the use case and the corporate need, he told Webster, supporting different rails makes sense.

B2B