Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). The project evolved, incorporating enhanced functionalities, cross-border fund transfers, and a Corporate CBDC Pilot Program.

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CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 115

PYMNTS

NOVEMBER 26, 2019

Last month , SAP announced it was teaming up with professional services firm Accenture and blockchain company R3 to develop a distributed ledger technology (DLT) solution that aims to accelerate the settlement of payments between banks and customers.

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Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Settlement Blockchain 60

The Paypers

APRIL 19, 2016

(The Paypers) The Reserve Bank of New Zealand (RBNZ), New Zealand`s central bank, has partnered with SIA , a financial consulting firm, to implement and support a new Real-Time Gross Settlement (RTGS) system.

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Real Time Gross Settlement (RTGS) Settlement Central Bank Consulting 28

CB Insights

NOVEMBER 5, 2020

Payments: This category includes companies working on tech like payment currencies, stablecoins (cryptocurrency pegged to the value of a non-volatile asset like the dollar), and real-time gross settlement (RTGS) systems that can enable transactions within a DLT-based capital markets framework.

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Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Blockchain Money Laundering 98

PYMNTS

DECEMBER 16, 2019

central bank to consider modeling FedNow after the Unified Payments Interface (UPI) framework used in India, The Economic Times (ET) reported on Sunday (Dec. FedNow is the new interbank real-time gross settlement (RTGS) service that will offer integrated clearing functionality for faster digital payments.

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FedNow Real Time Gross Settlement (RTGS) Federal Reserve Payment APIs and Integration 57

PYMNTS

JUNE 7, 2018

In collaboration with the recently-established New Payments System Operator ( NPSO ) and the Payment System Regulator (PSR), the Bank of England has commenced a six-week consultation on the adoption of ISO 20022 across payment schemes in the country, including CHAPS, Faster Payments and BACS.

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ISO 20022 ISOs Real Time Gross Settlement (RTGS) Message Standards 46

PYMNTS

MAY 9, 2016

Bangladeshi police and banking officials say that the connection of SWIFT messaging to a new bank transaction system could have led to the $81 million cyberheist at the central bank of Bangladesh. “The changes caused much more risk for Bangladesh Bank.”

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Real Time Gross Settlement (RTGS) SWIFT Central Bank Fed 41

PYMNTS

JUNE 27, 2018

The Bank of England caught the financial services world’s attention when its Governor, Mark Carney, spoke about the central bank’s latest initiative to revamp and rebuild its real-time gross settlement (RTGS) system.

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Real Time Gross Settlement (RTGS) Blockchain Cross-Border Cryptocurrency 63

PYMNTS

MAY 13, 2016

In light of the events surrounding the $81 million Bangladesh central bank heist, SWIFT has stepped forward to clarify that it does not hold any liability for fraudulent transactions originating from cyberattacks on its customers’ networks. “We urge you to take all precautions.”

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Real Time Gross Settlement (RTGS) SWIFT Fed Encryption 40

PYMNTS

DECEMBER 5, 2018

Central banks must work hard to keep up with the ever-changing payments landscape. By 1990, many countries had real-time gross settlement (RTGS) systems in place to rapidly clear and settle high-value transactions. Some, like Denmark , debuted their in-house solutions in the early 2000s.

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Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Central Bank Instant Payments 40

PYMNTS

JANUARY 21, 2019

FIN also recognizes that getting the Fed’s interoperable network up and running will take some time, so in the interim its members would like to have direct access to the Fed’s national payments settlement system. Their support of the Fed as the answer to all that ails faster payments seems particularly well-timed.

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Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

NOVEMBER 15, 2020

Those comments came about six months after other BoE comments saying that it planned to lead a group alongside top global banks to explore numerous concerns with issuing the currencies. at the cutting edge of payments innovation.

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Digital Currency Real Time Gross Settlement (RTGS) Cross-Border Settlement 103

PYMNTS

JUNE 26, 2018

England’s central bank is taking a significant step in support of blockchain technology with a decision to open its real-time gross settlement (RTGS) system to distributed ledger networks. At present, cross-border payments can cost 10 times more than domestic ones.”.

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Real Time Gross Settlement (RTGS) Settlement Blockchain Cross-Border Payments 43

PYMNTS

JULY 24, 2018

According to Reuters , the new plans will see the payments system, that supports British banking and trading, boost its defenses against cyberattacks by 2020, as well as increase the number of businesses that can use it. A number of recommendations were received to ensure optimal access to central bank money.”.

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Real Time Gross Settlement (RTGS) Distributed Ledger Technology (DLT) Blockchain Cross-Border Payments 40