Fintech Finance

MAY 13, 2024

Finastra , a global provider of financial software applications and marketplaces, today announced it has completed testing and certification through the Federal Reserve for ISO 20022, becoming one of the first vendors in the industry to complete the process for multiple solutions.

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Trade Credit & Liquidity Management

MAY 29, 2025

However, the industry is moving toward best practices and standardized data formats such as ISO-20022 to ease cross-border invoicing. Dynamic Regulatory Environment: Adapting to clearance models, where governments actively review invoices, requires technological agility and deep tax law knowledge.

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ISO 20022 ISOs Compliance Cross-Border 52

PYMNTS

APRIL 19, 2016

Payments technology developers and regulators are beginning to voice their support for ISO 20022, the payments messaging standard that proponents say can streamline global payments with an easier way to link data to a transaction. Up next is Switzerland.

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Fintech News

OCTOBER 15, 2024

In today’s fast-paced technological landscape, sticking with legacy systems can leave financial institutions lagging behind. With the rapid evolution of payment methods and regulations, banks must stay ahead of the curve or risk being left out of the game. There are typically two main approaches.

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PYMNTS

MARCH 21, 2017

Enter: ISO 20022. For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. On the payment collection side, corporates are demanding streamlined solutions, too.

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PYMNTS

JULY 28, 2016

Though it can be traced back to 2004 and was revised as recently as 2013, the ISO 20022 framework is still a source of confusion across the payments industry. This “standard for standards” is designed to set the tone for a global financial industry message scheme, but unfortunately it is often misunderstood.

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PYMNTS

MAY 31, 2018

Throckmorton and his team at NACHA believe that ISO 20022 , developed by the International Organization for Standardization (ISO), could be that common language. Standardizing Payment Technology for Smarter, Safer Payments. A report from the Business Payments Coalition found “ample evidence that U.S.

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PYMNTS

JULY 9, 2020

In a PYMNTS interview , Tim Coats, Oxbury co-founder, chief customer and regulatory officer, said Faster Payments will become a key rail for the farming and agricultural space to accelerate cash flow through its supply chain. SWIFT Certifies Fiorano ISO 20022.

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ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

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. Much like ISO 20022, tokenization is not a new concept for NACHA. The Road To Process Improvement. Innovation On Old Initiatives.

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Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

AUGUST 16, 2019

In 2017, the European Payments Council launched the pan-European Single Euro Payments Area ( SEPA ) Instant Credit Transfer System, and Southeast Asian countries Indonesia, Malaysia, Singapore, Thailand and Vietnam agreed to establish a real-time cross-border payments network. and Australia’s NPP. Challenges Aren’t Universal.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

SEPTEMBER 11, 2019

A majority (61 percent) regarded the flexibility and standardized nature of global data formats to be a benefit of real-time payments, which speaks to the importance of real-time payments for cross-border. Businesses that use real-time payments are more competitive, as the technology is becoming the standard for global commerce.

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PYMNTS

AUGUST 28, 2019

Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper.

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PYMNTS

APRIL 9, 2019

Payments messaging company SWIFT is gearing up to close its Trade Services Utility (TSU), a workflow engine aimed at facilitating value-added supply chain services. Reports in Global Trade Review (GTR) on Monday (April 8) said SWIFT will switch off its TSU in December 2020.

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The Fintech Times

FEBRUARY 21, 2024

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. “Public-private partnerships will also rise among regulators and payment players such as banks and technology providers.

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PYMNTS

AUGUST 1, 2019

In the latest Smarter Payments Tracker , PYMNTS takes a deep dive into the challenge of interoperability in achieving better cross-border payments services and experiences. In its announcement , SWIFT noted that this standardization will be especially impactful for high-value corporate payments within the correspondent banking sphere.

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PYMNTS

NOVEMBER 10, 2020

For financial service providers, instant payments offers a chance to open up new revenue streams and develop new services for corporate clients. But understanding how to position real-time payments technology to meet the needs of businesses is a challenge. Uncovering The B2B Use Cases. If you think about a market like the U.K.,

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B2B Real Time Payments Value Added Service ISO 20022 117

PYMNTS

NOVEMBER 13, 2020

We needed to position ourselves to respond to that emerging trend from a technology perspective.". API integrations can make it easier than ever for third-party FinTech solutions to enhance their own payment capabilities.

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Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payment APIs and Integration 75

The Payments Association

MAY 16, 2025

Merchants relying on PSPs, acquirers, or technology vendors must ensure that their third-party tools and services also meet EAA standards. Amend commercial terms to define finality, dispute resolution, and fallback payment options. If implemented correctly, enhanced payment traceability can reduce disputes and costs.

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PYMNTS

NOVEMBER 18, 2020

That is par for the course for any new payment technology, he said, and it's up to financial services providers to expand education and awareness of the technology. This has forced a behavior change and adoption of electronic payment methods that might have remained untouched by business users under normal circumstances.

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PYMNTS

JANUARY 17, 2017

s initiatives towards faster and real-time payments, analysts noted key requirements to join the Faster Payments scheme in particular; among one of the highest costs of joining, the report concluded, is building the technology to support real-time posting of payments. s broader faster payments efforts.

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PYMNTS

MARCH 9, 2020

Both approaches grant FIs access while other parties manage the technological undertakings. Real-time payment rails can gain ubiquity once third-party developers start leveraging them for new apps and other services.

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PYMNTS

SEPTEMBER 12, 2019

While more businesses are not only shifting away from paper, but operating with an embrace of digitization, the AFP and JPMorgan warned that checks remain popular and are far from being gone for good in the corporate payments ecosystem.

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PYMNTS

MARCH 9, 2018

In an announcement on Thursday (March 8), SWIFT said its DLT (distributed ledger technology) PoC for Nostro reconciliation went “extremely well,” according to SWIFT Head of Research and Development Damien Vanderveken in a statement. While SWIFT said the PoC was successful, it also highlighted some challenges to adoption.

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PYMNTS

SEPTEMBER 23, 2019

For financial institutions, the technology presents an opportunity to attract and retain corporate clients while simultaneously reducing security risks associated with manual or other data aggregation strategies. On average, an organization will manage 300 APIs.

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PYMNTS

FEBRUARY 6, 2020

The solution will deploy blockchain, standardized APIs from Afinis and payments messaging standard ISO 20022. As more financial institutions embrace third-party technology partners to enhance their own offerings, digital payments company Payrailz is moving to ensure that credit unions can participate in the trend, too.

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PYMNTS

APRIL 19, 2017

The largest retail bank in Italy has made its first major step onto the stage of real-time cross-border payments. Intesa Sanpaolo announced Tuesday (April 18) that it has successfully completed its first testing activities with EBA Clearing, using technology by Dovetail for pan-European real-time payments.

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Real Time Payments ISO 20022 Cross-Border Payments Cross-Border 40

Fintech Finance

APRIL 17, 2024

The Real-Time Rail is a complex, large-scale, multi-year infrastructure program that includes two key technical components: the build of the Real-Time Rail exchange component provided by Interac, which was completed in June 2023 and will allow for the exchange of payment messages in real-time.

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PYMNTS

MAY 29, 2019

Recently, several FIs went to work to link businesses with the Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme for faster international payments in Europe.

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PYMNTS

AUGUST 21, 2020

In addition to open banking initiatives, efforts from both the private and public sector to improve existing payment rails, develop new ones and promote payments messaging standardization (though standards like ISO 20022) have also heightened the FinServ industry’s focus on combatting cross-border payments friction.

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PYMNTS

JUNE 13, 2018

. “Today’s commercial payments infrastructure in Canada is built on many layers of outdated technology and processes that are needlessly complex and time-consuming, not to mention error-prone and labor-intensive,” said PayStand CEO and Founder Jeremy Almond in the statement.

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Electronic Funds Transfer (EFT) B2B Blockchain ISO 20022 43

PYMNTS

SEPTEMBER 27, 2019

The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1 Traditional banks, thanks to deeply ingrained practices and decades-old infrastructure, can struggle to upgrade their systems and adopt technology that would make it more cost effective to service globally-trading SMBs.

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PYMNTS

NOVEMBER 3, 2020

FINTAINIUM is combining its Account Receivables and Payables Management Platform with Everlink's eHUB Digital Payments Platform to support real-time B2B and B2C payments that adhere to ISO 20022 payments messaging standards. In the latest show of support for distributed ledger technology, J.P.

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Use Case B2B Distributed Ledger Technology (DLT) ISO 20022 56

PYMNTS

MAY 12, 2020

He recommends digitizing key components of paper check payments, including the automatic capture of payment data and integration with firms’ enterprise resource planning (ERP) and other back-office systems. Collaborators Develop New B2B Payment Rail In Pakistan. Checks will be around for a while.

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PYMNTS

MAY 3, 2016

A new report from ACI Worldwide , in conjunction with Ovum, finds banks of all types are deep in the hustle of competition and innovation as payments technologies evolve. According to ACI, the entire payments sphere is interconnected. However, each have different and changing priorities, as well as common needs and goals.”.

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Seon

JULY 27, 2023

Yet as an increasing number of organizations adopt FedNow, it is possible that new users will find that they no longer use their current payment system. As such, it may overshadow older, less convenient financial technologies, though it won’t outright replace them. How Does FedNow Work?

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PYMNTS

OCTOBER 6, 2017

The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions. The platform was built on ISO payment messaging standards, which, according to Fides CEO Andreas Lutz, are “very high and present a lot of challenges for treasury teams.”. “By

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Treasury Treasury Management Message Standards ISOs 57

The Payments Association

APRIL 14, 2025

Understanding whats coming allows payments firms to mitigate risk, meet compliance obligations, and capitalise on strategic opportunities in a shifting regulatory environment. The payments landscape is entering a defining phase of regulatory transformation. What’s next?

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Regulations ISO 20022 Cross-Border Legal 88