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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CBDC SWIFT Interoperability Settlement 95

The Fintech Times

NOVEMBER 4, 2024

We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products, and scale tokenised markets on an industry-wide basis.”

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Authorization CBDC Multi-Currency Settlement 83

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.

Venmo 98

Venmo PayPal Payment APIs and Integration P2P 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.

ISO 20022 121

ISO 20022 APACS SWIFT ISOs 121

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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Interoperability Blockchain Participant Governance 52

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.

Travel Rule 64

Travel Rule Rules Interoperability Deepfake 64

Fintech News

NOVEMBER 12, 2024

The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. However, challenges remain, particularly regarding interoperability.

FinTech 73

FinTech Cross-Border Payments Cross-Border Payment APIs and Integration 73

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 72

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?

Venmo 52

Venmo CashApp P2P Interoperability 52

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.

CBDC 108

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 108

Fintech Finance

OCTOBER 30, 2024

As part of Fnality’s vision to develop a regulated FMI that addresses a variety of pain points across the financial market, these successfully settled margin transfers are a first step in exploring the potential use of £FnPS for cleared margin payments in the future, subject to further regulatory analysis.

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Distributed Ledger Technology (DLT) Liquidity Management Central Bank Payments 78

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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Cross-Border Use Case SWIFT CBDC 52

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.

Instant Payments 97

Instant Payments Online and Mobile Banking Processors Payments 97

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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Crime Verification Interoperability Participant 59

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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Finance Financial Inclusion Underserved Blockchain 97

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 96

Fintech News

DECEMBER 20, 2023

Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.

FinTech 88

FinTech Cross-Border CBDC Web 3.0 88

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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Faster Payments FPC Payments RFP 52

Fintech Finance

APRIL 19, 2024

Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, is pleased to announce the release of its latest report, How QR Codes Address ‘the Last Mile’ Adoption of Faster Payments at the Point-of-Sale. ” The report delves into international and U.S.

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Faster Payments FPC Payments Best Practices 59

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.

Real Time Payments 52

Real Time Payments Financial Inclusion Agreements International Payments 52

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 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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Settlement Cryptocurrency Blockchain Digital Currency 130

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.

Payment APIs and Integration 116

Payment APIs and Integration API Facilitators Interoperability 116

Fintech Finance

SEPTEMBER 24, 2024

Address institutional changes that may include the rationalisation of current institutions and changes to governance to underpin a resilient, modern, efficient and inclusive payment ecosystem that meets the evolving needs of businesses and consumers. Prioritise initiatives and decide on investment programmes.

Cross-Border Payments 74

Cross-Border Payments Financial Inclusion Cross-Border Financial Crimes 74

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 112

The Fintech Times

APRIL 22, 2024

The FPC QR Code Interface Work Group, part of the US Faster Payments Council (FPC), authored the ‘How QR Codes Address ‘the Last Mile’ Adoption of Faster Payments at the Point-of-Sale’ report.

Faster Payments 59

Faster Payments FPC Payments Interoperability 59

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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Instant Payments FedNow Fed Interoperability 97

PYMNTS

DECEMBER 10, 2019

But when transactions occur across borders, new friction points emerge, particularly around the areas of interoperability, transparency and compliance. The Interoperability Challenge — And Opportunity. Yet transparency and cost remain a major hurdle in that market.

Cross-Border 52

Cross-Border B2B Cross-Border Payments Interoperability 52

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. .

Consumer 84

Consumer Credit Cards Online and Mobile Banking Economy 84

The Fintech Times

MAY 17, 2024

At the Visa Payments Forum in San Francisco, Visa has unveiled new products which will address the evolving consumer payments demands. There is a global desire to find commonality, interoperability and simplicity for online payments.

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Product Consumer Online and Mobile Banking RTP 128

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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FPC FedNow Fed Request for Comment 68

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

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.

Finance 107

Finance Distributed Ledger Technology (DLT) Payment APIs and Integration Legal Framework 107

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.

Faster Payments 68

Faster Payments Cross-Border Payments Cross-Border FPC 68

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.

Small Business 88

Small Business Credential Facilitators Verification 88

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.

Embedded Finance 52

Embedded Finance Finance Payment APIs and Integration Embedded Payments 52

Faster Payments Council

DECEMBER 29, 2021

We launched seven new white papers and reports, including the Cross Border Faster Payments White Paper and Why Interoperability is Important for Faster Payments report. If interested in participating, please visit the FPC site to register. It really provides a simple overview of available faster payments options in the market today.

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FPC Faster Payments Ubiquitous Interoperability 68