Fintech News

MARCH 25, 2024

Over the last six months, 38 global institutions participated in Swift’s CBDC sandbox, marking it as one of the most extensive CBDC experiments to date. Specifically, in digital trade, the experiments proved the capability for interoperability among diverse digital networks, facilitating atomic trade payments.

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Fintech Review

OCTOBER 1, 2024

Users can login to the airdrop portal on desktop (mobile support coming soon) and claim the MYTH to a native Mythos chain address. Users who had participated more actively saw a significantly higher share of the rewards pool. For example: If one had staked their DOT , they could have received additional MYTH tokens.

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Tearsheet

APRIL 22, 2024

Visa introduced the Visa+ service in April last year to bridge the gap among various apps in the peer-to-peer (P2P) payments space, allowing for real-time payouts to participating digital wallets. From there, a sender can enter the recipient’s Visa+ payname in their participating wallet app and submit the payment.

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Venmo PayPal Payment APIs and Integration P2P 98

Fintech Finance

OCTOBER 15, 2024

The RoPay service is being gradually rolled out, as participating banks introduce new features and cover more use cases, while users get accustomed to the service. The standardization through the RoPay Scheme ensures interoperability and simplicity for consumers, banks, payment processors, and merchants.

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Instant Payments Online and Mobile Banking Processors Payments 98

Fintech News

AUGUST 8, 2024

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. It is also essential to collaborate on interoperability between traditional finance and tokenised/digital assets.

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The Fintech Times

MARCH 28, 2024

” With a focus on global interoperability, regulatory assurance, and market credibility, the partnership is a giant step towards ensuring streamlined and interconnected cryptocurrency transactions. Ensuring interoperability in the crypto space Founded in 2017, Binance has been among Sumsub’s clients since 2021.

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Travel Rule Rules Interoperability Deepfake 64

Fintech News

AUGUST 12, 2024

DBS Treasury Tokens aim to address the needs of large corporations like Ant International, which operate across multiple markets. DBS’ blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrates with its core payments system, enhancing interoperability with various industry payment infrastructures.

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Treasury Blockchain Cross-Border Payments Multi-Currency 95

Fintech News

MAY 8, 2024

In 2022, the BOT initiated a Retail CBDC Hackathon to encourage public participation and promote private-public collaboration in developing CBDC proof-of-concept initiatives. To address these objectives, the BOT conducted the pilot test within a confined environment, divided into the Foundation Track and the Innovation Track.

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CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 120

Fi911

APRIL 23, 2024

While this has brought about a plethora of options from PayPal to Venmo, it has also led to a fragmented ecosystem where interoperability has been a significant challenge. Users will create a unique Visa+ payname linked to their existing account on a participating platform such as PayPal or Venmo. How Does Visa+ Work? Is Visa+ Secure?

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Fintech Finance

MARCH 26, 2024

Interoperability is critical to Swift’s strategy for instant and frictionless transactions. Participants also highlighted the solution’s potential to reduce delays in global trade, enhance trust among parties, and significantly lower transaction costs. More than 750 transactions were carried out over the course of the experiments.

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The Fintech Times

SEPTEMBER 2, 2024

Among the companies now participating are Amazon Web Services (AWS), Barclays, HSBC, Mastercard and Revolut. CFIT’s coalition will conduct research and testing over the coming months, focusing on making digital verification more robust and interoperable across different financial institutions.

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Fintech Review

JULY 10, 2024

By leveraging cryptocurrencies and smart contracts, DeFi circumvents barriers such as geographic limitations and bureaucratic hurdles, thereby empowering users to actively participate in global financial markets. Interoperability with traditional financial systems presents another significant hurdle.

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Fintech Finance

AUGUST 14, 2024

Kelvin Li, Head of Platform Tech, Ant International said: “This milestone with DBS is an important step forward in addressing challenges like reducing costs and transaction risks for cross-border payments. This greatly enhances extensibility and interoperability with multiple industry payment infrastructures that DBS is involved in.

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Liquidity Management Treasury Multi-Currency Cross-Border Payments 98

Fintech Review

AUGUST 27, 2024

However, one of the significant challenges it faces is interoperability between different blockchain networks. Cross-chain interoperability aims to address this issue, enabling seamless communication and transactions across various blockchain platforms. Interoperability is vital for several reasons.

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Interoperability Blockchain Facilitators Innovation 105

Fintech Finance

MAY 8, 2024

Our report aims to address the diverse needs and expectations of consumers, businesses, and financial institutions, laying the groundwork for widespread adoption and innovation.” This report not only outlines the challenges but also offers modern solutions to create a streamlined and reliable process for all participants.”

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Fintech Finance

OCTOBER 4, 2024

“This landscape is promising, but there are still challenges that need to be addressed, such as high market fragmentation and a lack of interoperability. Including mobile money, APMs will represent around 63% of African digital commerce by 2025. And that is exactly what EBANX has been doing,” Jalakasi pointed out. .

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Fintech Finance

JUNE 5, 2024

UPI’s collaborative and open banking ethos enables greater connectivity and interoperability with both domestic and international payment networks and will foster innovation and resilience in the Peruvian payment ecosystem.

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Real Time Payments Financial Inclusion Agreements International Payments 52

Fintech News

MAY 21, 2024

Source; SBI DAH The Future of Digital Assets: CBDCs and Cryptocurrencies Looking ahead, the survey participants anticipate greater adoption of various digital assets over the next three years. Nearly a quarter (23.5%) of the participants cited this as the key impediment to investing in digital assets.

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Fintech News

AUGUST 23, 2024

Participants will discuss emerging market trends and strategies for maintaining resilience amidst global economic challenges. It will focus on the theme “Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient,” addressing the key challenges and opportunities facing the global fintech industry.

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APACS FinTech Participant ISO 20022 126

Faster Payments Council

NOVEMBER 3, 2019

Collaboration with Glenbrook Partners Uncovers Key Industry Views on Faster Payments Advancements; Need for Ubiquity, Interoperability, Strong Dispute Resolution The U.S. Overall, survey participants view the United States as falling behind the rest of the world when it comes to faster payments adoption. 18 – Oct.

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Faster Payments FPC Interoperability Payments 68

Fintech News

MAY 16, 2024

Open banking in Southeast Asia The State of Open Banking in Southeast Asia To address these challenges and accelerate the adoption of open banking, several countries across Southeast Asia have introduced regulatory frameworks. Simultaneously, industry participants are embracing the trend at a fast pace.

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Payment APIs and Integration API Facilitators Interoperability 127

PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. FinTechs are interested in providing value-added services to FIs — and can conceivably connect their offerings to the FedNow platform via participating depository institutions.

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Fintech News

FEBRUARY 14, 2024

In contrast, digital trade finance lacks such a solution and often relies on specialized vertical solutions that address specific pain points. The report emphasizes the need for integrated digital solutions and the importance of standards and interoperability.

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Finance Distributed Ledger Technology (DLT) Payment APIs and Integration Legal Framework 122

Faster Payments Council

SEPTEMBER 17, 2019

Kirstin spoke openly with our membership, addressing questions coming in from our members on topics such as ubiquity, interoperability, and industry collaboration. Fraud mitigation – Members can participate on Thursday, October 10 at 3 pm ET, to explore ways in which we can address the concerns around safety and security.

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PYMNTS

NOVEMBER 27, 2019

Friction associated with traditional payment networks is plentiful, he told PYMNTS in a recent interview — and while real-time payment networks can address many of the related woes, their adoption will greatly rely on their ability to address corporates’ biggest pain points. Progress in Tackling Cross-Border Payments Friction.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Faster Payments Council

FEBRUARY 6, 2022

Last year, the Group released its Cross-Border Faster Payments white paper, which addressed use case and experience requirements for cross-border faster payments, along the dimensions of speed, cost, ubiquity, transparency, and risk. And other industry participants and FPC Members are working towards real-time cross-border payments as well.

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Faster Payments Cross-Border Payments Cross-Border FPC 68

Faster Payments Council

AUGUST 23, 2024

The moderator will drive the conversation, but audience participation will be encouraged! Hear considerations including user experience, transaction routing, payments risk management, and navigating interoperability. What are the pros and cons? This session will pressure test the need for a directory capability with a live debate.

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Fintech News

FEBRUARY 20, 2024

Through the standardisation of ESG metrics and the utilisation of technology for data gathering, verification, and interoperability, the initiative aims to empower MSMEs to objectively evaluate their impacts and actively engage in the global ESG agenda.

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Fintech News

OCTOBER 16, 2024

Building on its success in 2023, which attracted over 66,000 participants from 150 countries, SFF 2024 will feature a distinguished lineup of global central bankers, regulators, industry leaders, entrepreneurs, investors, innovators, and influencers.

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FinTech Cross-Border Payments AI Innovation 109

Fintech Finance

MAY 7, 2024

Notably, 76% of participants deemed it “fundamental” or “very important” for payment service providers to offer comprehensive End-to-End payment cycle coverage, including back-office processes. Furthermore, there is a recognised need among companies for advanced technology and expertise to navigate these challenges effectively.

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Embedded Finance Finance Payment APIs and Integration Embedded Payments 52

PYMNTS

AUGUST 10, 2017

For APIs to successfully address the varying needs of different financial players, they need to be aligned. To address the need to standardize APIs, the National Automated Clearing House Association (NACHA) formed the API Standardization Industry Group in May. Interoperability, said Carone, is the key driver behind API investment.

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PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. That’s where parties sending and receiving funds can use email addresses or phone numbers rather than account numbers. (Or

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Instant Payments Fed FedNow Interbank Settlement 75

CoinRemitter

NOVEMBER 29, 2023

The CT feature generates a Confidential Transaction address, which is a hash of the Litecoin wallet address and a blinding key. A blinding key hides some sensitive information such as wallet address and transaction amount. Cross-Chain Assets Litecoin is cross-chain interoperable with the wrapped Litecoin (wLTC) project.

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Fintech Finance

DECEMBER 13, 2023

The Central Bank will utilize ACI’s Digital Central Infrastructure , part of the award-winning ACI Enterprise Payments Platform to build the Central Infrastructure of an interoperable, countrywide scheme that includes centralized settlement and addressing services for the existing real-time payments schemes.

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Real Time Payments Central Bank Financial Inclusion Payments 52

Payment Savvy

MAY 15, 2023

Interoperability FedNow intends to work seamlessly with other payment networks. FedNow connects participating banks and credit unions, enabling them to process transactions in real-time. With the settlement services option, financial institutions can participate in the real-time settlement of payments through FedNow. No worries.

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FedNow Federal Reserve Liquidity Management Instant Payments 52

PYMNTS

NOVEMBER 5, 2019

Faster Payments Council revealed the payments industry’s demand for interoperability as well as value-added services and features in any new, faster payments service that emerges, including the Federal Reserve’s FedNow service. Faster Payments Interoperability is a Must. A new report from the U.S. On Monday (Nov. 4), the U.S.

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PYMNTS

NOVEMBER 4, 2020

The most readily adaptable initiative has been its blockchain-based Interbank Information Network that launched in 2017, recently rebranded as Liink , where more than 400 participants have signed up (among them the largest banks in the world) to address delays inherent in cross-border payments.

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