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Finastra Facilitates Connection of Swiss Banks in Readiness for New SIC Instant Payments Service

Fintech Finance

Finastra , a global provider of financial software applications and marketplaces, today announced the completion of a Swiss Interbank Clearing (SIC) instant payments readiness project. Using Finastra’s cloud-based Service Bureau offering, Swiss banks can seamlessly transition to facilitating instant interbank payments.

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EU adopts instant payments rules

Finextra

The European Council has adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

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Walmart, Kroger eye instant payments

Payments Dive

The giant retailers eagerly await instant payment system possibilities, especially as an alternative to card payments, according to industry professionals who heard their representatives speak recently.

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Instant Payments, are you ready?

The Payments Association

Instant payments are rapidly transforming the transaction landscape, supported by a global increase in payment rails and advanced services, despite facing challenges from fraud and regulatory demands. Read more

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EU banks worried about 'unrealistic' instant payment deadlines

Finextra

A third of EU banks do not currently offer an instant payments service and the majority have been discouraged by the January 2025 deadline, according to recently published research.

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Finastra’s 24/7 Instant Payment Service Offers Real-Time Sanctions Screening

The Fintech Times

By August 2023, the 50 largest banks in S witzerland must be capable of processing instant interbank payments, with all participants in the Swiss customer payment system expected to achieve this capability by the end of 2026.

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European Instant Payments Regulation: Are Banks Ready?

Finextra

At EBAday 2024, Kjeld Herreman, Head of Strategy Advisory, RedCompass Labs, discusses the fast approaching deadlines and how financial institutions can be best prepared for the SEPA instant payments regulation.