Fintech News

OCTOBER 15, 2024

Banks must develop both short- and long-term strategies to capture these opportunities, addressing not only the demand for instant payments but also the need for improved messaging standards, regulatory compliance, and the agility to adapt to emerging technologies and market trends.

ISO 20022 116

ISO 20022 ISOs Payments Federal Reserve 116

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. the report questioned. “Or

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

The Fintech Times

JULY 15, 2024

Finastra’s 24/7 instant payment service, which includes real-time sanctions screening and fraud prevention, processes transactions within seconds and will continue to evolve to meet changing demands. Gareth Lodge, principal analyst at advisory firm Celent, says banks face significant challenges in meeting instant payments deadlines.

Instant Payments 72

Instant Payments ISO 20022 Fraud Prevention Message Standards 72

PYMNTS

JANUARY 17, 2017

Demand for the real-time payments offered by Faster Payments has never been higher, and so, we are delighted to be able to launch this important new resource to help the developers that are making real time a reality for more customers than ever,” stated Faster Payments Head of Development Mike Banyard in a statement.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43

Fintech News

JUNE 12, 2024

Rapid globalisation and available technological advancements have spurred the demand for more efficient, transparent, and accessible cross-border payment systems. Participants reflected on the progress made to date, discussed potential opportunities and challenges, and shared lessons learned from their respective journeys.

Cross-Border Payments 124

Cross-Border Payments Cross-Border Interoperability Payments 124

PYMNTS

OCTOBER 2, 2019

Some of them have been mandated by governments, readying for anticipated demand. The increased use and adoption of P2P technologies, like Zelle and Venmo, demonstrates the consumer demand for this type of frictionless payment option. The Messaging Factor — And Getting The Message Out. Particularly in the U.S,

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

The Payments Association

FEBRUARY 14, 2025

New regulations, razor-thin margins, and surging consumer demand for frictionless, instant services are reshaping the rules of engagement. In line with SWIFT and ECB timelines by November, a considerable portion of European cross-border and certain domestic payments must adopt ISO 20022 messaging standards.

ISO 20022 100

ISO 20022 Payment APIs and Integration ISOs Central Bank 100

PYMNTS

NOVEMBER 19, 2020

The partnership supports Payment Canada's need for RTR to enable ISO 20022 messaging standards and remain in compliance with the Bank of Canada 's risk management standards for payment systems, an announcement revealed.

B2B 104

B2B Blockchain Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) 104

PYMNTS

MARCH 17, 2020

To that end, Vincent Caldeira, chief technologist for FSI in APAC for Red Hat told PYMNTS, FIs — especially incumbent FIs — are facing rapid changes in payments that demand they modernize payments processing, embedding new functionality along the way. The Need For Standardization In Cross-Border Payment Processing.

Innovation 91

Innovation Cross-Border Payment APIs and Integration Cross-Border Payments 91

PYMNTS

OCTOBER 6, 2017

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 The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions.

Treasury 57

Treasury Treasury Management Message Standards ISOs 57

PYMNTS

APRIL 29, 2019

Mixed Demand and ISO 20022. Despite ISO 20022’s potential, there are roadblocks that stand in the way of it becoming the default, universal standard. Consistent business processes and messaging standards, among other factors, are critical to ensuring systems work together smoothly.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

NOVEMBER 18, 2020

While businesses continue to rely on paper checks or even standard ACH transactions, Ledford said he's not necessarily surprised that business adoption of the RTP network has not been immediate. One of the use cases we've seen a lot of interest in lately is this expedited or even instant payroll on demand.”.

RTP 82

RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

NOVEMBER 3, 2020

But it's not only consumers driving demand for real time. 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. Smaller FIs Drive Real-Time Demand.

Use Case 56

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

PYMNTS

AUGUST 28, 2019

The environment is also benefitting from a ‘pull’ effect, where the consumers [or] corporates are requiring this level of service from the financial institutions — and these institutions are having to meet these demands.”. Speaking The Same (Payments) Language.

ISO 20022 52

ISO 20022 B2B Real Time Payments ISOs 52

The Fintech Times

JULY 20, 2024

Michael Levens, head of data, technology, automation and testing at Delta Capita “While it might not be obvious, modernisation efforts have been underway for many years to ensure payment systems are able to cope with the future demands. On average, CHAPS enables around 200,000 payments per day. appeared first on The Fintech Times.

Payments 122

Payments Mitigation Cybersecurity ISO 20022 122

PYMNTS

JULY 25, 2016

The push to adopt a messaging standard that is truly global — that would be ISO 20022 — stops at the U.S. As has been much documented, Europe has embraced the payments initiative, which expands messaging capabilities and has as its central core tenet standardized (but flexible) messaging across FX, transactions and payments rails.

ISO 20022 40

ISO 20022 ISOs Federal Reserve Message Standards 40

PYMNTS

JANUARY 17, 2017

Last week, Paragon announced a partnership with payment infrastructure developer RS Software to meet those changing demands. That’s a tricky, inefficient way to test the reliability, compliance, speed and other metrics of payments technologies, especially when demands for faster, more efficient payments are inescapable.

ISO 8583 49

ISO 8583 ISO 20022 ISOs Faster Payments 49

PYMNTS

AUGUST 1, 2019

In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. In the public sector, corporates and government entities are also collaborating in pursuit of interoperability.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

NOVEMBER 18, 2020

He said the movement toward standards – particularly the messaging standard ISO 20022 and its marriage of data to payment flows – will enable banks to help their clients reduce manual reconciliation and expand their own businesses. But the Federal Reserve has its own horse in the race, called FedNow , which is on the horizon.

Real Time Payments 98

Real Time Payments ISO 20022 Reconciliation Payments 98

Fintech Finance

FEBRUARY 27, 2024

This partnership prepares financial institutions (FIs) to effectively respond to payments industry changes, such as the evolution of ISO 20022 messaging standards and the launch of the FedNow Service.

Instant Payments 52

Instant Payments Payment Solutions ISO 20022 FedNow 52

PYMNTS

JANUARY 26, 2017

Once live, account servicing payment services providers can work with any payments denominated in the euro that are, in turn, compliant with messaging standards (ISO 20022). The payments availability will be 24/7/365 and based on ISO 20022 global messaging standards, compliant with the pan-European EPC scheme.

Instant Payments 40

Instant Payments ISO 20022 Message Standards ISOs 40

PYMNTS

MARCH 1, 2019

Now, demand for faster payments options is taking off worldwide. According to a report , real-time payments schemes that use global messaging standards could incur new risks. These messaging standards attach more data to the transactions. s FPS transferred £1.7 trillion ($2.25 Risk reduction. launched FPS in 2008.

Faster Payments 53

Faster Payments Real Time Payments Security Message Standards 53

PYMNTS

OCTOBER 22, 2019

Managing cash positions has become an exercise in thinking big, thinking long-term, and at the same time addressing constantly shifting smaller details and demands of businesses that are increasingly global in scope. Building on new initiatives to overlay legacy systems (like ISO 20022 messaging standards) can aid in those endeavors.

Cash Management 41

Cash Management ISO 20022 Message Standards Faster Payments 41

PYMNTS

JANUARY 25, 2019

We might be at a tipping point in the market, [in which] the market just demands faster payments,” said Matt Richardson, head of product solutions at Citizens Bank. . The rail was built on the ISO 20022 messaging standard, which sends data and payments together. However, the current payments environment in the U.S.

Real Time Payments 67

Real Time Payments Federal Reserve RTP TCH 67

PYMNTS

JUNE 10, 2020

Nothing spurs a leap to new behavior like a global emergency and for banks there is an urgency to meet the demands of changing consumer expectations while grappling with the limitations of legacy tech infrastructure. “Who led the digital transformation of your company? A) CEO B) CFO C) COVID-19.”.

Online and Mobile Banking 58

Online and Mobile Banking Authentication Message Standards Fraud Prevention 58

PYMNTS

AUGUST 16, 2019

Consumers and businesses have grown accustomed to having various speedy services available on demand — they can order food, request car rides or send money all from their smartphones. Interactions between banks, FIs and businesses could become highly fragmented without such standards.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

PYMNTS

SEPTEMBER 23, 2019

23), PYMNTS examines its latest findings on how corporate finance professionals are shifting their payments expectations, and what their financial institution partners need to know about how to meet those elevated demands. As financial institutions gather for this year’s Sibos conference kicking off in London today (Sept.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

FEBRUARY 7, 2017

Brown added that the technology can scale to meet shifting demand in transaction volume. One area is the move to using new types of messaging formatting,” Brown explained, adding that these payment infrastructures should be ready to adopt the ISO 20022 messaging standard that is spreading across global networks.

Faster Payments 46

Faster Payments Technology Real Time Payments ISO 20022 46

PYMNTS

MAY 8, 2017

That means multiple transactions are settled at once — but real-time payments demands each transaction to be settled independently the moment it lands at the bank. “So Overall, Hay said real-time payments demand banks “change their way of thinking.”. In the U.S., What we’ve found in the U.K. and in Europe and now in the U.S.,

Real Time Payments 46

Real Time Payments TCH ISO 20022 ACH 46

Evolve Payment

SEPTEMBER 29, 2023

The technology is improving, and companies are releasing innovative new solutions regularly to meet demand. This is reinforced by the adoption of ISO 20022, a globally developed methodology for transmitting data that provides a consistent messaging standard for payments.

Industry Trends 52

Industry Trends Contactless Payments ISO 20022 Cross-Border 52

PYMNTS

AUGUST 1, 2018

The number of scheme participants rose from 13 to 21 within the last decade, system oversight has been passed to the New Payments Systems Operator (NPSO) and merchants have increasingly expressed demand for ways to be paid faster — thus creating new use cases for the payments rail. The Customer Dispute Challenge.

Faster Payments 40

Faster Payments Real Time Payments Payments Online and Mobile Banking 40

PYMNTS

MARCH 12, 2018

That’s hardly enough to keep up with demand. Information is key, and as Cooke stated, a data-rich payment – made possible through global messaging standards – can eliminate the guesswork that comes with knowing who’s who and why payments are being made. The implication? The better solution? The problem exists on all fronts.

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

Fintech Finance

MAY 6, 2025

With ongoing market changes, increased customer demand for speed, and an evolving regulatory landscape, the event emphasized collaboration and two-way communication to help ensure banks have the knowledge, technology, and skills needed to compete in the fast-moving payments industry.

Wire Transfer 59

Wire Transfer Federal Reserve Message Standards Payments 59

The Payments Association

APRIL 14, 2025

It distils complex legislative changes into strategic insights, outlining whats in force, whats imminent, and what demands forward planning. What unites these developments is a clear directional shift: towards stricter standards, faster implementation timelines, and greater scrutiny across all points of the payment value chain.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88