FICO

FEBRUARY 15, 2021

Eurobank , one of the four Greek systemic banks, now performs real-time AML (anti-money laundering) and KYC (Know Your Customer) checks, with automation across digital and remote channels resulting in substantial efficiency improvements. . All Digital Transactions Monitored For High-risk Behaviour.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Nanonets

MARCH 30, 2023

Enter payment automation - a solution that has gained popularity in recent times due to the pandemic and the new competitive landscape. By automating the payment process, businesses and individuals can save time and minimize the risk of errors. What is Payment Automation? How does payment automation work?

Automation 52

Automation Transactions Wire Transfer ACH 52

PYMNTS

APRIL 3, 2019

We automate payments and back-office business processes, resulting in significant efficiencies and cost savings.” Blockchain (or DLT), said the authors, can lower costs and improve transparency, in part by eliminating the need for a correspondent banking relationship. Our cloud payment platform is changing all that.

Cross-Border Payments 92

Cross-Border Payments Cross-Border Blockchain Distributed Ledger Technology (DLT) 92

PYMNTS

OCTOBER 2, 2018

The API module was developed in collaboration with Bankers’ Bank, which partnered with AscendantFX to enhance the efficiency of its cross-border correspondent banking services. The integration follows ongoing change in the payments landscape, leading banks to demand more agile, efficient payment services.

Cross-Border Payments 55

Cross-Border Payments Payment APIs and Integration Cross-Border Wire Transfer 55

PYMNTS

APRIL 8, 2020

The government’s PPP provides $349 billion in Small Business Administration (SBA) loans and is part of a $2 trillion stimulus plan , the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Correspondent Bank 56

Correspondent Bank Authentication Correspondent Interoperability 56

Fintech Finance

FEBRUARY 22, 2024

Numeral, the payment technology provider, today announces the support of Swift payments , enabling companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries, in addition to local European SEPA as well as UK Bacs, FPS, and CHAPS payments, from a single platform. “At

SWIFT 52

SWIFT Technology Cross-Border Payments Correspondent Bank 52

FICO

FEBRUARY 14, 2017

From this perspective, regulations from major markets such as USA and Europe, will be indirectly applied to the Nepalese banks via correspondent banks. Therefore, non-compliance could lead to the loss of these banking relationships and access to important capital markets.

Financial Crimes 61

Financial Crimes Crime Compliance Correspondent Bank 61

PYMNTS

DECEMBER 16, 2020

These transactions are typically routed among a variety of financial institutions (FIs) as they pass through the correspondent banking network to reach their intended countries, but each bank included in this chain adds fees, driving up costs. Deep Dive: How Virtual Card Automations Cut Through B2B Payment Frictions.

Security 64

Security Cross-Border Payments B2B Cross-Border 64

Fintech Finance

JANUARY 2, 2024

The StoneX Technology Services division specializes in connecting organizations to the Swift network, leveraging the latest innovations from Swift, including their advanced APIs and automating manual payment processes.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Verification 59

PYMNTS

AUGUST 21, 2020

Indeed, making payments across borders remains one of the biggest pain points for small- and medium-sized businesses, as well as one of the biggest opportunities for FinTechs and other FinServ providers, thanks to the continued lack of transparency and speed in traditional global payment methods that rely on the correspondent banking system.

Multi-Currency 69

Multi-Currency Cross-Border Payments Cross-Border Finance 69

Finovate

APRIL 9, 2024

Double aims to offer a smarter investing account by allowing users to build custom direct index strategies while automating things like tax loss harvesting and dollar cost averaging. Banking and exchange Numo is an offshore bank for international contractors. Givefront offers a banking platform tailored for nonprofits.

FinTech 52

FinTech Cross-Border Due Diligence AI 52

PYMNTS

FEBRUARY 20, 2018

China’s central bank, for instance, took steps last month to boost the efficiency of cross-border transactions involving Chinese parties by lengthening its clearing window time span. In the U.S.,

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

The Fintech Times

FEBRUARY 21, 2024

“This creates the opportunity for correspondent banks to route and settle payments via a real-time payment infrastructure rather than the Real Time Gross Settlement rail, the only option previously. The advantage is lower fees and 24×7 availability.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Payment Savvy

JUNE 18, 2020

Each institution or bank is required to have a dedicated interface that is isolated from other networks for safety purposes. Employees in these banks can log in and send messages manually to other banks. This aspect can be automated to improve service delivery.

SWIFT 52

SWIFT Funds Transfer Facilitators Correspondent Bank 52

PYMNTS

JULY 16, 2019

In other corporate payment scenarios like cross-border intercompany payments, other technologies like blockchain and tokenization allow businesses to bypass the traditional (and sluggish) correspondent banking system and move money in real time.

Payment APIs and Integration 60

Payment APIs and Integration B2B API Payments 60

The Fintech Times

MARCH 14, 2024

I ntellias, a global software engineering company, has teamed up with Invoys , an invoice processing company focused on empowering businesses to automate accounts receivable and accounts payable processes.

FinTech 59

FinTech Non-Bank AML Correspondent Bank 59

PYMNTS

OCTOBER 24, 2019

Delays are due to low adoption of accounts payable (AP) automation and straight-through processing (STP) of payments. More than one-quarter (26 percent) of FIs have not implemented either solution, while only 23 percent have achieved full automation and STP.

Cross-Border Payments 42

Cross-Border Payments Cross-Border B2B FedNow 42

Segpay

JUNE 13, 2024

The Service Provider Showcase on FedNow Explorer includes a growing list of more than 100 payment processors, correspondents, banking operations, and application providers to help financial institutions connect and amplify their network. These positive developments raised the attention of the US Federal Reserve.

FedNow 52

FedNow Federal Reserve Real Time Payments Instant Payments 52

PYMNTS

OCTOBER 22, 2019

The payments often have to travel between MTOs or between one MTO’s different offices through corresponding banks, and the different operating hours and time zones under which domestic systems operate can delay MTOs from getting their money. Consumers are not spared from the space’s frictions, either.

Cross-Border Payments 41

Cross-Border Payments Cross-Border P2P B2B 41

FICO

DECEMBER 23, 2020

So will high-risk products/services such as correspondent banking and trade finance transactions. However, new technologies such as AI, robotic process automation, intelligent routing and flexible workflows can help to drive a paradigm shift.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

Nanonets

SEPTEMBER 8, 2023

ACH (Automated Clearing House) payments are electronic fund transfers that use the ACH network to move funds between bank accounts in the United States. A well-established network of correspondent banks facilitates cross-border and cross-currency transfers with typically only one or two intermediaries involved.

Wire Transfer 52

Wire Transfer Wires Wire ACH 52

PYMNTS

DECEMBER 30, 2019

In an interview with PYMNTS , Ripple Senior Vice President of Business and Corporate Development Kahina Van Dyke explained why building new infrastructure from the ground up can be an effective way to combat friction in the legacy correspondent banking system that lacks transparency and is plagued by slow transaction speeds and high FX costs.

Innovation 42

Innovation Cross-Border Commercial Card B2B 42

PYMNTS

AUGUST 2, 2018

Thus, the case for contextual banking, where data is used intelligently, and optimally in an automated fashion, to understand why payments are being made and, as a result, the best way to get them where they need to go. Many Paths, One Destination.

B2B 40

B2B Payment APIs and Integration Payments Cross-Border 40

CB Insights

FEBRUARY 8, 2018

Blockchain technology provides a cryptographically secure way of sending digital assets, without the need for trusted third parties — such as banks. Global banking is currently a $134 trillion industry. Moving money around the world is a logistical nightmare for the banks themselves. And CoinList is just the start.

Blockchain 78

Blockchain Bitcoin Correspondent Bank Cryptocurrency 78

PYMNTS

JULY 9, 2020

International transactions must be vetted not only by financial institutions (FIs) in the sending and receiving countries, but also by every correspondent bank the payments flow through along the way. These payments must also be kept secure to ensure they are not intercepted by bad actors, however.

Cross-Border Payments 56

Cross-Border Payments Cross-Border B2B Regulations 56

Fintech Labs Insights

MARCH 24, 2016

“We believe that businesses deserve the convenience of having their banking operations fully automated,” states the company’s Matthew Harris, Director of Strategy and Partnerships. Moreover, with Valuto we cut out the middlemen by offering domestic, localized payouts and pay-ins from our network of bank accounts.

Multi-Currency 17

Multi-Currency API Payment APIs and Integration Accounts 17