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. Having explored the evolution of cross-border payments to date, we now turn our attention to the biggest barriers that may be limiting and slowing the growth of the space.

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Finance Magnates

FEBRUARY 15, 2023

How MSBs are leveraging the power of USDC and Circle for cross-border payments to their counterparties. As cross-border payments continue to gain popularity, businesses are constantly looking for faster, more secure, and cost-effective methods to conduct transactions.

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PYMNTS

OCTOBER 15, 2020

Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. Developments From Around The World of Payments Modernization. billion by the end of this year.

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PYMNTS

OCTOBER 19, 2020

These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments.

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The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

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PYMNTS

DECEMBER 14, 2018

When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms. “The modern-day client expects a seamless transaction experience,” he said.

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PYMNTS

APRIL 15, 2020

For foreign payment service providers looking to facilitate cross-border B2B payments into China, the correspondent banking model often remains the only route to facilitate clearing and settlement. “Getting correspondent bank accounts is the biggest challenge every payment service provider is facing.

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PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. How Cross-Border Payments Are Made. So, what’s the problem? What’s Changing?

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PYMNTS

APRIL 3, 2019

It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. These shortcomings make the cross-border payment industry ripe for disruption and innovation.

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Payments Source

AUGUST 8, 2018

The fact remains that the vast majority of international payments are still done via banks and through the correspondent (SWIFT) network, writes Rosie Faulkner, vice president and money laundering reporting officer at Earthport.

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PYMNTS

JULY 26, 2019

The modern-day financial services landscape has a need for speed, and one of the slowest areas of the market can be seen in cross-border payments. Remittance and peer-to-peer payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders.

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Fintech Finance

AUGUST 12, 2024

Nium , the global leader in real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers. Nium has been present in the region dating back to 2017.

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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. More than 300 financial services firms, technology companies, banks, regulators and associations are part of R3’s Corda ecosystem.

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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. The company also launched a partnership earlier this year with Spain’s Banco Santander to develop a cross-border payments service based on XCurrent.

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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

JULY 15, 2020

.” That means being able to send and receive payment regardless of location, yet traditional offerings often fall short, he said. An alternative to this payment strategy is to open up a bank account in each market in which a business operates.

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The Fintech Times

AUGUST 13, 2024

Nium , the global real-time cross-border payments provider, is looking to strengthen its presence in Latin America by applying for new payment licenses, joining fintech associations, growing its team, and signing new customers.

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PYMNTS

FEBRUARY 20, 2018

Individual jurisdictions around the globe are pressing for both faster and more efficient cross-border payments. 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.

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Fintech News

JULY 14, 2024

Companies such as Siemens and iFAST Financial have benefited from the platform through Standard Chartered, gaining better access and control of their working capital, constant availability, and faster, more seamless payment flows.

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Fintech News

AUGUST 12, 2024

BS2 also serves as Nium’s Brazilian Real (BRL) Correspondent Bank, assisting in real-time payment settlements for cross-border Pix transfers. BS2 is leveraging Nium’s Global FX product to reduce costs and enable real-time payouts between Brazil and key trading partners like China and the UAE.

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Fintech Finance

JANUARY 2, 2024

StoneX has announced that it is one of the first financial organizations to enable Swift ’s new leading-edge solution for cross-border payments. Cross-border payments have long been a complex area marked by ongoing regulatory and compliance changes, bank offline hours, and increasing competition.

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PYMNTS

OCTOBER 24, 2019

Cross-border payments still present challenges , but the landscape is changing rapidly. . Swift recently announced that its gpi service can integrate with domestic real-time systems to facilitate rapid cross-border transactions. Traditionally, most cross-border payments are made through Swift.

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PYMNTS

OCTOBER 22, 2019

They frequently face delays and rack up fees as they pass through multiple FIs, and parties making these payments often wrestle with currency conversions and value fluctuations. International B2B Payments Pains. Transfers are passed between FIs until they reach intended recipients, and each bank adds extra steps and fees along the way.

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PYMNTS

SEPTEMBER 11, 2017

A new report from the International Finance Corporation, a part of the World Bank Group, finds correspondent banking relationships are down, an unintended consequence of regulatory reform. 8) said 27 percent of global banks surveyed have reported a drop in the number of correspondent banking relationships.

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PYMNTS

SEPTEMBER 24, 2020

This month’s Deep Dive explores the challenges that remittance service providers face when seeking to stay compliant, the impact this has on the availability of cross-border money transfer services and regulatory technology strategies to help reduce this friction. . Correspondent Banking . The Cost of Compliance .

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PYMNTS

JULY 8, 2020

Payment providers are offering alternatives to cumbersome and opaque correspondence banking protocols with cross-border payments. And Square is broadening its platform with its recent purchase of Verse, an app that lets users make instant payments. All this, Today in Data. Data: .

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Fintech Finance

APRIL 17, 2024

The Payments division of StoneX ( StoneX Payments ) will supply NatWest with third-party delivery and international FX payment systems, allowing the bank’s corporate clients to transfer money to more nations with ease.

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The Payments Association

MARCH 15, 2024

Exploring innovative solutions to address the challenges and opportunities in global financial connectivity as traditional correspondent banking relationships diminish. Read more

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PYMNTS

NOVEMBER 21, 2018

With FinTech driving innovation and competition in the cross-border payments space, governments can no longer afford to ignore changing and heightening demands for greater speed, transparency and efficiency in global transactions. times global GDP in 2016.

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PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. More guidelines will be released in the future, the company added.

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Fintech Finance

JUNE 6, 2024

Nium , the global leader in real-time cross-border payments, today announced a partnership with BS2 , a digital bank in Brazil specializing in fintech solutions for businesses.

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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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Fintech Finance

OCTOBER 21, 2024

Mastercard introduced a new product innovation, Mastercard Move Commercial Payments, that will enable banks to facilitate near real-time, predictable and transparent commercial cross-border payments. Fully compatible with existing correspondent banking arrangements between respondents and correspondents.

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PYMNTS

FEBRUARY 20, 2019

Cross-border payments firm Veem is introducing a rewards program for its business customers. 19) said the company is rolling out VeemRewards, a cash-back rewards program for businesses that use Veem to send payments across borders. An announcement made on Tuesday (Feb.

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PYMNTS

OCTOBER 9, 2019

Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments.

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PYMNTS

OCTOBER 9, 2019

Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments.

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PYMNTS

SEPTEMBER 27, 2019

Criticism of the world’s correspondent banking network continues to mount — and at the same time, the number of correspondent banking relationships is on the decline. The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1

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