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

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

FEBRUARY 27, 2018

The network says more than $100 billion in Swift GPI payment messages are sent daily, enabling payments to be credited to the end beneficiaries within minutes — and some within seconds.

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Cross-Border Payments SWIFT Cross-Border Payment Message 65

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. With this latest standard, a payer’s bank can designate funds in advance, assuring upcoming payments will clear. .

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SWIFT ISO 20022 Authorization API 72

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.”. SWIFT said the first part of this proof-of-concept effort will involve Corda , an R3 blockchain platform.

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

Payments Source

APRIL 11, 2016

The Society for Worldwide Interbank Financial Telecommunication (Swift) has created a service to help financial institutions comply with requirements governing payments messaging.

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SWIFT Compliance Payment Message Government Payments 63

Payments Source

APRIL 11, 2016

The Society for Worldwide Interbank Financial Telecommunication (Swift) has created a service to help financial institutions comply with requirements governing payments messaging.

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SWIFT Compliance Payment Message Government Payments 63

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

APRIL 24, 2019

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a payment messaging firm, has chosen Javier Pérez-Tasso as its new chief executive officer, according to a press release. Pérez-Tasso joined SWIFT in 1995, and in 2015 was appointed as chief executive for the Americas and U.K.

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SWIFT Cross-Border Payment Message Instant Payments 67

Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

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SWIFT Payment Message Payments Global Payments 61

Payments Source

DECEMBER 12, 2016

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay.".

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SWIFT Payment Message Payments Data Security 60

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

NOVEMBER 30, 2018

SWIFT , a payment messaging firm based in Belgium, began implementing its SWIFTNet Instant service for the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service on Friday (November 30), when the first banks using it went live, according to a report by the company.

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SWIFT Instant Payments Gateways Payment Message 60

Fintech Finance

OCTOBER 17, 2024

Broadridge’s Instant Payments Service utilises the Swift Alliance Gateway Instant (AGI), which offers a highly resilient infrastructure designed specifically to support instant payments messages, connecting with SwiftNet Instant to offer 24/7 availability and continuous and efficient exchange of instant transactions.

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Instant Payments Regulations SWIFT Payments 98

PYMNTS

SEPTEMBER 20, 2018

As noted by Regulation Asia , SGQR is being adopted by 27 payment schemes across the nation. Separately, SWIFT said it is launching a pre-validation service that will let customers discover and fix the errors that might delay payment messages before they are sent to recipients.

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SWIFT Mobile Payments PayPal Payments 63

PYMNTS

SEPTEMBER 18, 2020

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. SWIFT has revealed plans to develop new real-time rails, while VSoft is wielding traditional bank rails to facilitate its real-time payments capabilities. SWIFT to Launch New Real-Time Rails.

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Innovation Payment APIs and Integration SWIFT Real Time Payments 116

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.”. SWIFT said the first part of this proof-of-concept effort will involve Corda, an R3 blockchain platform.

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

PYMNTS

MARCH 28, 2018

SWIFT and SAP are collaborating to facilitate corporate-to-bank connectivity into the SWIFT network, the companies recently announced. The payments messaging firm and the enterprise software conglomerate revealed they are working together to streamline corporate treasury’s integration into the SWIFT network via financial institutions.

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SWIFT Treasury Payment Message Facilitators 49

The Fintech Times

AUGUST 8, 2024

” Implementing Confirmation of Payee in Australia In March 2024, Swift , the global payment messaging network, revealed that it had been selected by Australian Payments Plus to build confirmation of payee, to provide Australians with more confidence when sending money.

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Payee SWIFT Scams Payment APIs and Integration 59

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments. The initiative follows a collaboration between SWIFT and R3 that was announced in January, reports noted.

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SWIFT Blockchain Cross-Border Payments Cross-Border 43

The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. ” The post How Will the Cross-Border Payments Space Evolve in 2024?

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

JULY 16, 2019

Sources have revealed that Venezuela might use a Russian-operated international payments messaging system in an effort to get around U.S. Bloomberg reported that press officials for the Venezuelan and Russian central banks didn’t immediately comment, while SWIFT declined to comment.

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SWIFT OFAC Central Bank Treasury 55

Payments Source

SEPTEMBER 11, 2018

The Society for Worldwide Interbank Financial Telecommunication says a pre-validation system it will launch soon to catch payment message mistakes prior to dispatch should increase the number of payments reaching beneficiaries in less than 30 seconds.

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SWIFT Payment Message Payments Faster Payments 62

PYMNTS

OCTOBER 7, 2019

First Investment Bank ( Fibank ) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT data shows that about 36 percent of gpi transfers reach their destination within 5 minutes. About 53 percent reach in an hour, and 96 percent reach the same day.

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SWIFT International Payments Correspondent Payment Message 43

PYMNTS

NOVEMBER 27, 2019

Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. ISO 20022’s path to ubiquity could serve as a model for faster payments technologies’ own adoption journeys.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

JANUARY 13, 2017

Financial messaging firm SWIFT made its first public embrace of blockchain technology last year with a whitepaper exploring the use of the technology for smart contracts. 12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks.

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SWIFT Cross-Border Payments Blockchain Cross-Border 41

Payments Source

JUNE 15, 2017

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

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Instant Payments SWIFT Payment Message Faster Payments 60

PYMNTS

AUGUST 15, 2019

The growing traction of faster payments continues, especially across a cross-border backdrop. In news reported by MoneyControl.com, SWIFT, the payments messaging giant, is reportedly looking at testing instant international settlements with local networks in India to speed transactions and make them more transparent.

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Settlement SWIFT Cross-Border Cross-Border Payments 51

PYMNTS

APRIL 23, 2018

Payments messaging company SWIFT is hoping to launch real-time payments services in the Asia Pacific region, according to Verdict reports on Friday (April 20). SWIFT gpi , launched last year, provides financial institutions with infrastructure to facilitate transparent, faster cross-border payments.

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Real Time Payments SWIFT Cross-Border Payments Cross-Border 43

PYMNTS

JULY 18, 2017

SWIFT is opening up its KYC registry to more banks around the globe. The payments messaging company said Monday (July 17) that its KYC Registry is now open to all supervised financial institutions around the globe. The Registry enables banks and FIs to share and access KYC data and documents.

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SWIFT Office of the Comptroller of the Currency Due Diligence Correspondent Bank 40

PYMNTS

MARCH 9, 2018

SWIFT has offered another update on its blockchain proof of concept (PoC), reiterating its potential to enrich transaction data, support real-time liquidity management and reconciliation and more. The PoC includes 34 banks, each with their own node in SWIFT’s DLT sandbox.

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SWIFT ISO 20022 Blockchain Liquidity Management 43

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 26, 2016

Bad news broke on Monday morning (April 25) for global payments messaging platform SWIFT as BAE Systems released analysis concluding that cyberthieves hacked into SWIFT’s software , causing the $81 million bank heist from the Bangladesh central bank.

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SWIFT Payment Message Procedures Central Bank 40

PYMNTS

AUGUST 8, 2018

Payments messaging service SWIFT has received clearance to provide access to the Eurosystem’s TARGET Instant Payment Settlement (TIPS) payment scheme, the company said Tuesday (Aug. In an announcement on its website, SWIFT said that, beginning Nov. Both schemes facilitate instant domestic payments.

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SWIFT Instant Payments Real Time Payments Settlement 40

PYMNTS

SEPTEMBER 6, 2018

The Reserve Bank of India (RBI) has reportedly sent letters to several heads of top banks in the country questioning why they have yet to fix gaps in their SWIFT systems, according to The Economic Times of India. The scam went undetected for so long, reports noted, because PNB had not integrated SWIFT into its core banking system.

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SWIFT Scams Central Bank Non-Bank 40

PYMNTS

MARCH 28, 2016

This makes China’s international payments play a bit unconvincing to some. But payments messaging service SWIFT has been brought on by China to help strengthen CIPS’ capabilities. Reports said Friday (March 25) that the company has signed a memorandum of understanding (MOU) that sees SWIFT aiding CIPS in its development.

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SWIFT Cross-Border Cross-Border Payments Payments 40

PYMNTS

APRIL 9, 2020

Although SWIFT revealed plans for its account-to-account functionality last month, the announcement only began making headlines a few days ago. Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard.

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Payment APIs and Integration Central Bank SWIFT FinTech 83