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The battle for merchant deposits: How the fintech sector is challenging banks’ core business

The Payments Association

These relationships then allow banks to cross-sell other products and services, such as business loans, lines of credit, and cash management solutions. The revenue generated from these value-added services is where banks make the majority of their profits, far exceeding the margins earned from the merchant acquiring business itself.

FinTech 88
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Live Oak Bank Implements Finzly’s Fedwire Solution

Finovate

The technology leverages Finzly’s pre-wired, tested, and certified connections to the Fed to keep banks and other financial institutions a step ahead when it comes to implementing Fedwire, complying with ISO 20022 standards, and launching new value-added services.

FedWire 114
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SWIFT To Create New Cross-Border Real-Time Rails

PYMNTS

SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. Over the next two years, the Belgium-based cooperative said the initiative will provide transaction management services. The new approach promises to create new value-added services to support business growth.

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SWIFT Launches Service For Low-Value Cross-Border Payments

PYMNTS

SWIFT , a global provider of secure financial messaging, announced a new service Thursday (Oct. 1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. SWIFT said this latest improvement is another building block for its new strategy.

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Mastercard Transforms Cross-Border Payments for Banks With Industry-First Innovation

Fintech Finance

Leverages banks’ existing investments in Swift messaging infrastructure, with a single technical connection that allows corridors and currencies to be added with minimal cost and resources. Large clearing banks can extend the service to their institutional customers with minimal changes to their current processes.

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Businesses Are Ready To Make The RTP Leap

PYMNTS

This week’s exploration of the latest in payment rail innovation finds industry heavyweights like Visa, SWIFT and NACHA eyeing speed and data to add value to both new and legacy payment infrastructures. “We plan to use the data SWIFT gpi provides to route payments in the most effective, efficient way possible. .

RTP 101
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Real-Time Innovators Bring Data To Corporates

PYMNTS

Increasingly, those value-added services are not only focusing on speed of payment, but also enhancing the data that end-users can access about their transactions, with new solutions from Bank of America and Scotiabank some of the latest to bring real-time rails to corporates. Bank Of America Wields SWIFT gpi.