PYMNTS

NOVEMBER 10, 2020

But in the decade since bitcoin’s debut, technologies have evolved in the payments ecosystem that are helping set the stage for cryptos to become more widely adopted. Blockchain remains a key driver of cryptos’ future, both as unit of currency and store of value. The Difference A Decade Makes .

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PYMNTS

JUNE 30, 2017

The blockchain has a bit of an identity crisis. And while it might be tempting to poke fun at those confident, if somewhat confused, CFOs, Adam Ludwin, co-founder & CEO at Chain , told Karen Webster that, actually, they are pretty much in the same boat as everyone else when it comes to the blockchain. “No Here’s a little proof.

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Payments Source

JANUARY 8, 2019

Despite controversy surrounding Ripple’s digital token, one bank is pushing forward to use it in cross-border payments.

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PYMNTS

SEPTEMBER 11, 2019

Enterprise software provider R3 is teaming up with Mastercard to establish a blockchain solution for cross-border payments, the companies said in a press release on Wednesday (Sept. The new blockchain-enabled solution aims to bridge international payments infrastructures, schemes and banks via a Mastercard clearing and settlement network.

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PYMNTS

OCTOBER 24, 2016

The FinTech space is oversaturated with talk of blockchain technology. But late last week, Visa announced that it will be rolling out Visa B2B Connect, a platform for banks to make payments and settle funds across borders using Chain Core, the blockchain infrastructure developed by Chain.

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Fintech Finance

JANUARY 11, 2024

It explores the challenges faced by financial institutions in correspondent banking relationships, shedding light on regulatory compliance, security concerns, foreign exchange rate risks, and the impact of fintech players entering the field. “The evolving nature of cross-border payments demands a proactive approach.

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The Fintech Times

FEBRUARY 28, 2024

When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Aleks Stefanovski, VP for strategy and business operations at Visa “Another barrier is de-risking by correspondent banks. Payments are arguably the face of fintech.

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PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! The ECB has been open to the idea, and could already be experimenting.

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PYMNTS

DECEMBER 14, 2018

Throughout the year, that prediction has manifested into reality, as more traditional financial institutions (FIs) turn toward FinTech innovators to address the biggest pain points of the legacy correspondent banking system. “The nature and direction of these changes, however, [remain] unclear in many cases.”

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PYMNTS

FEBRUARY 20, 2018

“While such oversight, responsibilities and requirements have been deemed crucial to the health and maintenance of the financial system, this has inadvertently resulted in ‘derisking’ by banks, resulting in some capacity constraints.”. Alt-Fin’s Limited Impact.

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PYMNTS

JUNE 7, 2018

Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership. Reports in the Financial Times this week highlighted the increasing competition in the market as Ripple continues to add banks to its XCurrent blockchain messaging system.

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PYMNTS

MARCH 7, 2019

Subsidiaries based in different countries, with different bank accounts, are obliged to send funds to each other using existing payment rails,” Lazarichev said in a recent interview, adding that traditional global payments tools take several days to complete. “In Corporate payments are still not a guaranteed use case for cryptocurrencies.

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PYMNTS

JANUARY 20, 2021

Though innovation in payment infrastructure and technology has now made it possible for businesses to pick-and-choose which processes and rails are optimized for one transaction, it also means organizations are dealing with a complex web of tools and applications that can create bottlenecks, lost data and wasted time.

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PYMNTS

JUNE 22, 2018

As BBVA steps up its digital efforts, the bank is merging its Beeva and i4S units to form a company called BBVA Next Technologies. The company’s 1,200 tech workers will focus on areas such as artificial intelligence (AI), the blockchain and cloud computing, according to their press release.

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PYMNTS

JULY 26, 2019

Remittance and peer-to-peer payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders. With correspondent banking relationships on the decline, financial institutions are looking for new — and faster — ways of moving money around the world, too.

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PYMNTS

MAY 24, 2017

With lack of visibility into the correspondent banking system a top challenge for B2B payments, SWIFT is rolling out a way for payers to track their cross-border payments in real time. Using API technology, SWIFT’s Tracker links to global banking systems to boost visibility into payments.

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PYMNTS

AUGUST 1, 2019

While the world and its technologies are becoming more integrated, the financial services sector has a slew of hurdles it most overcome to promote a level of interoperability required to accelerate and streamline cross-border transactions.

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PYMNTS

APRIL 11, 2016

A new report from Citigroup makes the case for this gradual, uneven evolution when it comes to blockchain technology and the banking sector. It’s an important conclusion, especially as banks simultaneously fear and embrace the potential for blockchain to change the way they operate.

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PYMNTS

JULY 11, 2019

In some cases, blockchain is being deployed, sometimes with cryptocurrencies as part of the equation. In one example, Visa’s B2B Connect launched in June, using fiat currencies and elements of distributed ledger technologies. Transactions settle in one business day, he said.

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PYMNTS

SEPTEMBER 6, 2018

Blockchain — or rather, blockchain-focused projects — has been in the spotlight as China has been trialing financial services (FinServ) and security measures across those rails. However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. Africa As Greenfield Payments Opportunity.

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PYMNTS

MAY 3, 2019

Small businesses (SMBs) are rarely early adopters of new financial technology (FinTech). Only a few years ago, small businesses lagged in global payments technology uptake. “These are all issues emanating from the traditional correspondent banking infrastructure,” explained Banking Circle CEO Anders la Cour at the time.

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Global Payments Cross-Border Payments Cross-Border Small Business 60

PYMNTS

FEBRUARY 20, 2018

In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. The rise of cryptocurrencies and blockchain emerged from the need for a better way to transact that is not currently offered by the traditional banking system, he explained.

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

The Fintech Times

FEBRUARY 21, 2024

When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. We’ve seen big movements in the regulatory space, which is making it easier for financial institutions to start experimenting with blockchain-based payments.

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PYMNTS

MARCH 17, 2016

The company, which uses a hybrid of blockchain technology and other payment rail infrastructure to enable cross-border payments, said it will look to capitalize on the demand spike for global payment services during the Olympic games, where hundreds of thousands of people will flock from all over the globe.

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Cross-Border Payments Cross-Border Blockchain Payments 40

PYMNTS

JULY 16, 2019

Ricaurte noted that as cloud and SaaS adoption progress, application programming interface (API) technologies are propelling that integrated payments functionality. However, as he discussed with PYMNTS in a recent interview, silos in corporate payments are still painfully persistent.

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PYMNTS

MAY 1, 2017

But off the trading floors, the news cycle carried its own pace as Walmart made cash cheaper to send, bitcoin and the blockchain got a series of thumbs down from bankers around the world and startups started feeling the burn. The Bank/Blockchain Break-Ups. JPMC is said to still be pursuing the blockchain in other venues.

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Payment Savvy

MARCH 22, 2023

On the other side of the transaction is the correspondent bank which uses the SWIFT messaging network to convey the request. The recipient’s bank registers the message and credits the money to your friend’s account. Anybody could fax a cheque, but now it may seem like stone age technology.

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PYMNTS

FEBRUARY 8, 2018

In China, we see banks providing tracking and payment outcomes to corporate treasurers [and] making use of advances in mobile technologies and API-oriented services,” he said.

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B2B Cross-Border Payments Cross-Border Innovation 44

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.

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Cross-Border Payments Cross-Border P2P B2B 41

PYMNTS

MARCH 12, 2018

Cooke argued that bitcoin and blockchain have their place and use cases in the world. And so we’ve got a brilliant technology [bitcoin] with a use case that just does not exist.”. That license, so to speak, does not exist with blockchain technology. But digital fiat currencies, he believes, will.

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Fintech Labs Insights

OCTOBER 9, 2015

InnoVentures managing partner Mariano Belinky, said “We think that the distributed ledger is a technology that will significantly disrupt many processes within a bank.” With Ripple’s new solutions, banks can now achieve real-time, certain settlement at the lowest total cost possible.”.

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PYMNTS

MAY 14, 2018

Emerging markets are wary of adopting anything too cutting-edge, so focusing on new technologies like blockchain could jeopardize relationships with the banks in those markets. The direct-to-bank account, Shore said, is what is typically preferred by suppliers and trading partners.

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Evolve Payment

SEPTEMBER 29, 2023

The technology is improving, and companies are releasing innovative new solutions regularly to meet demand. More businesses will embrace NFC technology, and consumers will increasingly opt-in for mobile wallets like Apple Pay, Google Pay, and others. In 2024, we can expect contactless payments to become even more widespread.

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PYMNTS

DECEMBER 18, 2019

It’s why payment innovators are working to either develop and deploy entirely new payment rails or establish technologies that can sit on top of legacy rails to improve their performance. Accenture Backs Blockchain. Credit Unions Mix Blockchain With Existing Rails. MUFG’s Unconfirmed Digital Currency.

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The Fintech Times

MARCH 14, 2024

Banks have dramatically reduced their hiring over the past 12 months following well-publicised restructuring across the sector last year. That’s according to the latest report from Broadbean Technology. Gillian Lungley joins the board of directors of LHV Bank Limited – the fourth independent non-executive director.

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PYMNTS

SEPTEMBER 24, 2019

This week, SWIFT picks the latter, while JPMorgan Chase grows its initiative using blockchain to make cross-border transactions, and Form3 announces a new international payment services that connects banks with global small business payments capabilities via application programming interface (API).

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

PYMNTS

DECEMBER 4, 2017

“The majority of banks simply don’t have the necessary regulatory licenses to operate outside their native countries, which creates a dependency on the intermediary bank system to complete international transfers.”. This causes cash flow delays for companies.”. Regulatory Burdens. Beyond U.S.

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B2B Cross-Border Payments Cross-Border Correspondent Bank 41