The Fintech Times

MAY 3, 2025

Cross Rivers solution offers businesses a range of payment pathwaysfrom SWIFT for secure, standardised cross-border transactions to local bank rails optimised for domestic B2B and B2C transfers. This ensures businesses and consumers benefit from faster processing times so consumers receive their money when and where they need it.

International Payments 69

International Payments Cross-Border Cross-Border Payments Same Day ACH 69

Payments Source

MARCH 10, 2016

The Central Bank of Bangladesh is threatening to sue the New York Fed over money wired out of its account. The Fed says it did nothing wrong, the transfer was authenticated and executed by Swift.

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Fed SWIFT Wire Wires 62

EBizCharge

APRIL 25, 2024

Wire transfers and electronic funds transfers have been staples of financial transactions for decades, but various electronic transfer methods have emerged with the innovation in banking technology. What is a wire transfer? Wire transfers are particularly useful for urgent or high-value transactions. How do wire transfers work?

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Wire Transfer Wire Wires Electronic Funds Transfer (EFT) 52

Nanonets

SEPTEMBER 8, 2023

Ach and Wire are two of the most popular ways of money transfer in the United States. First, let's delve into the mechanics of ACH and Wire transfers, followed by an exploration of their distinctions, guidance tailored for small businesses, and concluding with instructions on establishing ACH and Wire processes.

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Wire Transfer Wire Wires ACH 52

PYMNTS

SEPTEMBER 17, 2018

The fraudsters who hacked their way into the Bangladesh central bank two years ago got there by getting into software tied to the SWIFT financial platform. Additionally, there is one count of conspiracy to commit wire fraud — a charge that could lead to a maximum sentence of 20 years in prison. The way they got there? The Background.

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SWIFT Phishing Ransomware Central Bank 75

Payment Savvy

JUNE 18, 2020

According to analysts, in 2012, it was observed that SWIFT facilitated up to $6 trillion per day. However, contrary to what most people think, SWIFT does not do any of the fund transfers. So, what is SWIFT? What is SWIFT? A Brief History of SWIFT. SWIFT was founded in 1973 in Brussels. How Does SWIFT Works?

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SWIFT Funds Transfer Facilitators Correspondent Bank 52

Payments Source

MARCH 18, 2019

The tech company has taken World Wire, its blockchain-based cross-border payments network, live in 72 countries.

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Cross-Border Payments Cross-Border SWIFT Wire 72

Fintech Finance

OCTOBER 28, 2024

Integrating with PCBB’s payment services means access to straight-through processing of foreign wire transfers, Swift GPI tracking, and enhanced transparency into payment statuses. We’re excited to enable integration of our services with Finzly BankOS.

International Payments 97

International Payments Cross-Border Payments Wire Transfer Cross-Border 97

PYMNTS

OCTOBER 10, 2018

Rarely does the wire transfer come into play as an exciting, innovative payment rail ready to disrupt cross-border B2B payments. The wire transfer, made popular by Western Union more than 150 years ago, may not seem to be the most innovative rail. Thieves attempted to steal $5.3

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Wire Transfer Wire Wires Cross-Border 46

PYMNTS

MAY 1, 2017

It’s been more than a year since Bangladesh’s central bank was attacked by cybercriminals that took away $81 million by infiltrating the bank’s connection to the SWIFT network. While the focus for some time had been on ACH and wire fraud, “no one had really focused a lot on the SWIFT network,” he said. “It

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SWIFT Cybersecurity Faster Payments Wire 57

The Finance Weekly

APRIL 25, 2022

European vehicle makers like Porsche and Volkswagen Group, for example, have had to cut back on production due to shortages in wire harnesses that are sourced from Ukraine. Office of Foreign Assets Control list and subscribing to the updates on U.S. Treasury sanctions across the globe.

Finance 269

Finance Cybersecurity Risk Treasury 269

The Fintech Times

JANUARY 9, 2025

These include USD, EUR, USDC, USDT, and PYUSD, along with the ability to send 13 different currencies from their USD bank account over its local network or via SWIFT , enabling better treasury management in USD. FV Bank strengthened its cross-border offering allowing it to provide its global customers with a wider range of deposit options.

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Stablecoins PayPal Direct Deposit Cross-Border 59

Nanonets

SEPTEMBER 30, 2023

In today's interconnected world, the swift and secure transfer of funds across borders is essential for international trade and finance. SWIFT is a crucial player that facilitates this process. SWIFT is the most common and widely adopted wire transfer method, connecting financial institutions across the globe.

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SWIFT Wire Transfer Wire Wires 52

Stax

APRIL 10, 2025

An ACH transfer is an electronic movement of funds from one bank account to another via the ACH (automated clearing house) network, while a wire transfer uses a secure network like SWIFT (Society for Worldwide Interbank Financial Telecommunication) or Fedwire (Federal Reserve Wire Network) to initiate the movement of funds.

Small Business 88

Small Business Wire Transfer BNPL ACH 88

The Fintech Times

DECEMBER 1, 2024

Global Money Transfers now boasts instant transfers to HSBC accounts in more than 20 destinations; RMB transfers to mainland China via UnionPay and SWIFT wire transfers to over 200 destinations. We’re basically helping our partners make real-time remittances to bank accounts as endpoints globally – to 4.1

Cross-Border Payments 59

Cross-Border Payments Cross-Border Multi-Currency Wire Transfer 59

Clearly Payments

OCTOBER 31, 2024

Payment Method Description Processing Time Cost Use Cases Popular Examples Credit Cards Bank-issued cards for borrowing funds Instant Varies (2-3% for merchants) E-commerce, retail, travel Visa, Mastercard, American Express Debit Cards Draws directly from user’s bank account Instant Low to none for consumers Everyday purchases, ATMs, retail Visa Debit, (..)

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Online and Mobile Banking RTP BNPL Debit Card 98

Payment Savvy

MARCH 22, 2023

Most international money wires have been possible with the infamous SWIFT code. SWIFT is widely used in almost every country, with just a few exceptions, as it’s one of the most secure methods of sending international payments all over the world. This article discusses the definition and purposes of the SWIFT network system.

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SWIFT IBAN Transactions Wires 52

The Payments Association

MAY 9, 2025

As financial crime evolves, correspondent banks must prioritise wire transfer transparency to meet global regulations and safeguard the financial system. This remains the global benchmark for wire transfer transparency. Inadequate oversight of wire transfer data played a significant role in the enforcement action.

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Correspondent Bank Correspondent ISO 20022 Wire Transfer 88

The Fintech Times

FEBRUARY 21, 2024

Practical improvements await Rachel Levi, global head of innovation engineering, SWIFT Rachel Levi , global head of innovation engineering, Swift , the cross-border payments provider, notes how the company and ecosystem are working to make practical improvements to international payment speed.

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

AUGUST 14, 2020

And when the banks and eWallets approached us two years ago and asked if we can provide them with a SWIFT alternative solution, we immediately said ‘yes’ and started working on a solution.”. After all, Moldovan noted, the benefit of the collaboration is mutual.

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Cross-Border FinTech Cross-Border Payments eWallet 132

PYMNTS

APRIL 10, 2019

The amount of money stolen in 2018 averaged between $250,000 and $2 million, which is down from amounts in the tens of millions, according to a report by interbank messaging service SWIFT. The higher the value of the instruction, the higher the risk of triggering fraud-detection systems,” SWIFT said in the study.

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SWIFT Wire Transfer Federal Reserve Fraud Detection 73

PYMNTS

SEPTEMBER 6, 2018

To that end, IBM said it launched its Blockchain World Wire , billed as a cross-border payment system that is powered by the Stellar blockchain network. The process integrates the World Wire API into banks’ payment systems. The process integrates the World Wire API into banks’ payment systems. SWIFT, Too.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

PYMNTS

SEPTEMBER 6, 2018

For example, tech giant IBM said it launched, via blockchain, its Blockchain World Wire, which is billed as a cross-border payment system that is powered by the Stellar blockchain network. The process integrates the World Wire’s APIs into banks’ payments systems. You can find out more here.

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Cross-Border SWIFT Cross-Border Payments Payment APIs and Integration 40

The Paypers

FEBRUARY 9, 2023

Fintech Nium has removed deductions on global wire transfers, supports 7 new payout currencies, and provides real-time transaction tracking with SWIFT gpi.

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Wire Transfer Wire Wires Payroll 36

PYMNTS

OCTOBER 27, 2020

In addition, an update is expected to add real-time settlement and the ability to pay out USD in SWIFT, ACH and wire. Clients will be able to hold their funds in a currency wallet, paying out the currencies through various networks like FPS, CHAPS, SEPA and SEPA INSTANT, according to the release.

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Payment APIs and Integration Payments API Wire 95

Payments Source

AUGUST 19, 2016

Banks on the Swift network are being hacked? Put those international wire-transfer instructions on a blockchain. Blockchain technology is often suggested as an answer to the financial world's security problems. Card-not-present fraud is up? Well then, merchants should just let people pay with bitcoin. Problem solved.

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Wire Transfer Blockchain Security Wire 60

Clearly Payments

JANUARY 25, 2024

The demand for swift and touchless transactions has propelled online purchases to new heights, while the rise of contactless tap-and-pay options and “Buy Now, Pay Later” (BNPL) schemes is offering consumers enticing flexibility. increase, followed by EFT, wire transfer, and debit cards. preferring cash and 54.4% using credit cards.

Process 105

Process Online and Mobile Banking Electronic Funds Transfer (EFT) Digital Currency 105

Fintech Finance

AUGUST 15, 2024

It enables a faster way to move funds via new payment rails than traditional ACH, wire, or check. Instant payments use the FedNow service, developed and launched by the Federal Reserve in July 2023, and the RTP® network, launched in 2017 by The Clearing House.

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Instant Payments Treasury RFP RTP 105

PYMNTS

SEPTEMBER 11, 2019

According to the Real-Time Payments Innovation Playbook , 26 percent of cross-border businesses rely on international wire transfers, while the next most common method is by paper check (20 percent). Transparency is lacking in wire transfers and speed isn’t a primary feature of international ACHs.

Cross-Border Payments 76

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

PYMNTS

DECEMBER 23, 2020

Wire transfers are a common method through which these workers receive cross-border payments and these payments can present numerous problems, even if they go smoothly. However, this continued growth is resulting in several challenges, especially when it comes to how freelancers are finding work — and being paid for it.

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Cross-Border Payments Cross-Border Wire Transfer Wire 108

PYMNTS

SEPTEMBER 1, 2020

However, cross-border payments could become ever more challenging as the network shrinks and becomes more concentrated across fragmented messaging formats, wires and domestic infrastructure. And eventually, global volumes should rebound as economies re-emerge from lockdowns. And as the BIS reports, the number of banks is declining.

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Correspondent Bank Correspondent Cross-Border Cross-Border Payments 123

Fintech Finance

JULY 12, 2024

In addition to speed, the search engine delivers full visibility into a company’s transactions, providing details such as a payment status, incoming and outgoing messages, Swift GPI tracking details and images.

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Transactions Correspondent Wire Wires 98

PYMNTS

SEPTEMBER 26, 2016

The biggest movers included Blackhawk Network Holdings, which gained 7 percent on the week, though no company-specific headlines hit the wires. The firm said it was debuting any-to-any payments, in real-time fashion, toward the end of the month, with connectivity to the SWIFT network.

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SWIFT Wire Wires Advisors 59

PYMNTS

SEPTEMBER 15, 2020

Interchecks Co-founder and CEO Dylan Massey said in a statement that the company "started with a commitment to offset wire and ACH payments with Visa Direct in an effort to speed-up funds availability, and the project grew from there." Emirates NBD Consolidates Global Payments Infrastructure.

RTP 105

RTP Blockchain Distributed Ledger Technology (DLT) Cross-Border 105

PYMNTS

APRIL 29, 2019

It would instead have to turn to expensive wire transfers, credit cards — which can take days to settle — or account-to-account transfers, which also can take several days to process and incur fees if passed through intermediary banks. A London-based manufacturer can’t rely on the U.K.’s and Australia’s NPP. Mixed Demand and ISO 20022.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

EBizCharge

AUGUST 28, 2024

When you initiate a transaction, such as a direct deposit or a wire transfer, the routing number determines which financial institution should receive the funds. Wire transfers: When using wire transfers, routing numbers help identify the receiving bank. How do routing numbers differ between SWIFT and IBAN methods?

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Wire Transfer Direct Deposit Wire Wires 52

PYMNTS

FEBRUARY 13, 2019

Payments messaging firm SWIFT announced on Tuesday (Feb. SWIFT noted that these cases present KYC challenges because data exchanged between all these parties is often incomplete or out of date. SWIFT’s KYC Registry offers entities a unified platform through which they can upload and share standardized KYC data. ”

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Money Laundering AML Economy SWIFT 64