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SWIFT: The Road To ISO 20022 Adoption

PYMNTS

Financial institutions have relied on their own IT systems, operations teams, the SWIFT messaging service and domestic payment schemes to acquire, construct, screen, relay and report customer payments. Richer Data With A Little Help From Our Friends . A Gradual Move With Big Benefits.

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The Not-So-Beaten Path To B2B Payments Real-Time Ubiquity

PYMNTS

The ability for SWIFT gpi to address HSBC’s corporate client challenges is what drove the financial institution to join the initiative last year, Halpin noted, adding that technology must solve real-world problems and cannot exist for the sake of existing.

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Digital Payments Easing Pains For Hurting Medical And Dental Practices

PYMNTS

There is a fundamental need to link complex remittance data — explanation of payment — with the payments being made.”. The dental sector ultimately stands to benefit from implementing swift, digital processes rather than friction-filled, paper-based ones.”. Curing What Ails Healthcare Payments.

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Why Faster Payments Isn’t The Answer To Accounts Receivable Delays

PYMNTS

is a lack of remittance data, he said. Payments data is often sent separately from the funds, so even if a company receives a payment same day or in real time, information about who sent that payment, and why, still comes on a delay. where he doesn’t see the same type of regulatory pressure on late payers that the U.K.

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Giving B2B Dental Payments A Digital Treatment

PYMNTS

These practitioners receive funds more swiftly and securely when the money is delivered via ACH and electronic funds transfers (EFTs), and Schoen said those methods also make it easier to process the associated data. Likewise, providers were looking to minimize staff in their offices and speed [up] reimbursement.”.

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What New Payment Rails Miss About Solving B2B’s Remittance Challenge

PYMNTS

More often, businesses will find that the clunky paper check is actually the payment method best suited to support the movement of remittance data along with funds, although businesses are still struggling to find affordable and efficient ways of ingesting that information. There’s nothing more valuable than remittance data.

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Moving Data With Money The Key To Faster KYC: identitii

PYMNTS

In an earlier interview with PYMNTS, Ben Peters, chief operating officer at insurance payments solutions company VPay, said a lack of remittance data may be partially to blame for ACH’s lack of ubiquity. In corporate banking and payments, the challenges that arise can be vast. But even as regulators like the Fed in the U.S.,