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.

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ISO 20022 ISOs Payment APIs and Integration Message Standards 142

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”

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ISO 20022 ISOs SWIFT Cross-Border 76

Fintech News

OCTOBER 15, 2024

With the rapid evolution of payment methods and regulations, banks must stay ahead of the curve or risk being left out of the game. The Drivers of Change Source: Adobe Stock ISO 20022 has become the global standard for payments messaging, with two-thirds of real-time payment systems around the world already using it, according to Mastercard.

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ISO 20022 ISOs Payments Federal Reserve 116

Payments Source

JUNE 3, 2019

Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.

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SWIFT Message Standards Gateways Payment Message 69

Payments Source

DECEMBER 16, 2019

Payments messaging standards provider Swift has opened its global Know Your Customer registry to all the corporations it connects to following a successful test.

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SWIFT Message Standards Payment Message Payments 69

PYMNTS

NOVEMBER 10, 2020

Real-time payments aren’t just an opportunity for consumers to send and receive money more quickly. Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. A Payments Culture Shift. It’s the culture that is changing.”.

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B2B Real Time Payments Value Added Service ISO 20022 117

PYMNTS

MARCH 21, 2017

A new report from financial services company Nordea says corporates are waiting for their banks and other FinServ providers to standardize payment processes. The majority of companies surveyed by Nordea for its Future of Payments report said they are working with at least five banks for their payments and collection needs.

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ISO 20022 ISOs B2B Message Standards 77

Payments Source

APRIL 4, 2019

Payments messaging standards provider Swift has established a new group to help it promote and assure smooth migration of the cross-border ISO 20022 standard.

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ISO 20022 ISOs SWIFT Cross-Border 62

PYMNTS

AUGUST 16, 2019

Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. A Call for Transparency.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

JANUARY 17, 2017

s Faster Payments scheme is a critical component of the nation’s push towards real-time payments. The scheme offers real-time credits for payments made online, via mobile device and over the phone, when payments are valued at about $300,000 or less — making it a main player in P2P and SME payments.

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Faster Payments ISO 8583 ISO 20022 Message Standards 43

PYMNTS

NOVEMBER 13, 2020

As real-time payments make their way to ubiquity in markets around the globe, more small- to medium-sized businesses ( SMBs ) are exploring how instant transactions may be able to add value to their own operations. 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

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. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

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Interoperability ISO 20022 Cross-Border Correspondent Bank 61

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.

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ISO 20022 ISOs Fed FedWire 52

PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

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Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

JUNE 7, 2018

’s payments messaging operations through the planned adoption of the ISO 20022 messaging standard, the bank announced Wednesday (June 6). The NPSO, which operates Faster Payments and BACS, is working with the central bank to develop a “Common U.K. The Bank of England is streamlining the U.K.’s

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ISO 20022 ISOs Real Time Gross Settlement (RTGS) Message Standards 46

PYMNTS

OCTOBER 6, 2017

Fides Treasury Services is integrating corporate payments capabilities into its offering. 5) that it is launching EFT Web, a platform for corporate treasurers to execute and manage payments. The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions.

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Treasury Treasury Management Message Standards ISOs 57

PYMNTS

JANUARY 24, 2019

Payments messaging company SWIFT is expanding its gpi for Corporates (g4C) initiative, adding treasury management technology company BELLIN to its roster of early adopters of the tool. The tool expanded and began requiring SWIFT customers to include their UETR in all payment instructions, even for institutions not part of gpi.

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SWIFT Treasury Management Payment Message Cross-Border 57

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink eCommerce and trading platforms with the SWIFT gpi payment service.”. The proof of concept is designed to “bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade.”

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 60

PYMNTS

SEPTEMBER 5, 2019

A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. API standards accelerate the introduction of new services.

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SWIFT ISO 20022 Authorization API 72

PYMNTS

FEBRUARY 7, 2018

A new report from Ernst and Young LLP (EY) and Payments Canada finds Canadian businesses are spending as much as $5.2 billion on payments processing. The analysis was released as Payments Canada moves forward with its Modernization initiative to promote faster payments in the country while ensuring security.

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Process ISO 20022 Cross-Border Payments Payment Message 49

PYMNTS

DECEMBER 23, 2016

VocaLink isn’t facing enough competition in its role of providing the underlying infrastructure of key payment systems like Bacs, according to the U.K. Payment Systems Regulator (PSR). Both Bacs and the Faster Payments Service are critical in enhancing B2B payments across the U.K. The consultation will close Feb.

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ISO 20022 Message Standards Faster Payments ISOs 49

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. A Different Kind Of Challenge.

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ISO 20022 B2B Real Time Payments ISOs 52

PYMNTS

FEBRUARY 6, 2020

Nacha Unlocks Payments Data. Payments organization Nacha announced this week that it is rolling out a new platform designed to standardize and streamline the flow of transaction data between payment ecosystem participants. The organization noted that the platform will aim to go live for early adopters this May.

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Payments Data Payment APIs and Integration Credit Union NACHA 73

PYMNTS

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. For the financial services world to address businesses’ global payments needs, Conibear said they must take a holistic approach that goes beyond facilitating cross-border payments or improving upon legacy payment rails.

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PYMNTS

AUGUST 19, 2016

As SWIFT continues to promote the adoption of the ISO 20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO 20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.

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ISO 20022 ISOs SWIFT Message Standards 40

PYMNTS

JULY 9, 2020

There’s no single path to payments infrastructure innovation. This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain.

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ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

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Instant Payments ISO 20022 SWIFT ISOs 50

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. SWIFT has similarly taken to boosting ISO 20022’s adoption within Canada , too.

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ISO 20022 ISOs Message Standards Federal Reserve 40

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink ecommerce and trading platforms with the SWIFT gpi payment service.”. The proof of concept is designed to “bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade.”

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 46

PYMNTS

FEBRUARY 13, 2018

Last year, Oracle launched a new API (application program interface) tool , its Oracle Banking Payments API service, for financial institutions (FIs). The solution enables banks and other FIs to leverage the ISO 20022 payments messaging standard and enhance straight-through processing and real-time settlement.

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ISO 20022 Message Standards ISOs Payment Message 54

PYMNTS

JULY 3, 2018

continues to consolidate its payments industry, with its New Payment System Operator (NPSO) announcing the latest step in the initiative. Payments Administration and has taken control of the nation’s check and credit clearing operations. “This is our opportunity to create the future of retail payments in the U.K.,

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Continuity ISO 20022 Message Standards Faster Payments 40

PYMNTS

OCTOBER 10, 2016

23, the industry welcomed the rollout of ubiquitous faster payments to every consumer and business in the U.S. NACHA’s launch of Same Day ACH ushered in three settlement windows, enabling ACH payments to be received same day. via all banks and credit unions. Innovation On Old Initiatives.

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Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

AUGUST 15, 2019

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Deep Data For Swift, Secure Payments . High-value payment systems operated by the U.S.

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ISO 20022 ISOs Interoperability Message Standards 58

PYMNTS

JUNE 13, 2018

PayStand , a B2B payments company powered by blockchain, is launching in Canada. A press release on Tuesday (June 12) said PayStand is introducing its Payments-as-a-Service (PaaS) solution to the Canadian market. ” According to the company, B2B EFT payments make up more than one-third of Canada’s domestic payments volume.

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Electronic Funds Transfer (EFT) B2B Blockchain ISO 20022 43

PYMNTS

MAY 12, 2020

In the journey to improving B2B payment processes, it’s unlikely that any single solution will be the silver bullet to combating friction. In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. Deluxe Preserves The Check Workflow.

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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

PYMNTS

JULY 9, 2018

.’s Faster Payments system has caused a backlog of transactions still waiting to clear hours later, according to BBC reports from Monday (July 9). According to the New Payment System Operator (NPSO), the issue occurred in the scheme’s central infrastructure, and the issue has been corrected. and 5:30 p.m. BST on Sunday.

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Faster Payments ISO 20022 Message Standards Payments 40