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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Correspondent Bank Cross-Border Correspondent Cross-Border Payments 91

The Fintech Times

NOVEMBER 8, 2024

Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients. UBS plans to further expand and develop its UBS Digital Cash offering.

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Cross-Border Cross-Border Payments Payment Solutions Blockchain 59

Fintech Finance

JUNE 5, 2024

Today, Ripple , the leader in enterprise blockchain and crypto solutions, announced a new partnership with Clear Junction , the global leader in cross-border payments solutions for regulated institutions. A host of new currencies are scheduled to be switched on for Ripple customers later this year.

Cross-Border Payments 98

Cross-Border Payments Cross-Border Multi-Currency IBAN 98

Fintech Finance

NOVEMBER 4, 2024

Wise, the global technology company building the best way to move and manage the world’s money has been granted direct access to InstaPay, the Philippines’ real-time payment system, and can also directly settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus.

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Instant Payments Settlement Accounts Cross-Border Payments 98

Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

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Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

PYMNTS

OCTOBER 19, 2020

Digital payments form a critical facet of the world’s economy, facilitating the flow of tens of trillions of dollars among individuals and businesses each year. These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking.

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Cross-Border Payments Cross-Border Correspondent Bank Technology 77

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. Our cloud payment platform is changing all that. Canada and Asia. A Larger Stage.

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

PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Kicking Free Of Correspondent Banking. Staying Secure.

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Cross-Border Payments Cross-Border Correspondent Bank Correspondent 85

The Fintech Times

MARCH 7, 2025

Kenyan bank KCB Group and the Rwanda-based Bank of Kigali have joined the Pan-African Payment and Settlement System (PAPSS), which was launched by the African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat.

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PYMNTS

AUGUST 16, 2019

Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

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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Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

JULY 31, 2019

According to the latest Smarter Payments Tracker , global payment usage is at an all-time high. So, why do cross-border payments present so many challenges? Mastercard has instead purchased cross-border transaction providers to expand its payments networks and offer similar solutions.

Cross-Border Payments 72

Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

Finextra

APRIL 29, 2024

Service level agreements used in cross-border payment arrangements define minimum service levels for correspondent banking relationships, the links between payment systems and payment instrument rulebooks.

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Cross-Border Payments Cross-Border Agreements Correspondent Bank 64

PYMNTS

APRIL 15, 2020

China is a notoriously challenging jurisdiction for foreign payment service providers to operate as the nation prioritizes local industry leaders. In addition to dwindling correspondent banking relationships, this model to move funds across borders limits visibility into a payment’s progress, and often means lengthy transaction times.

Correspondent Bank 76

Correspondent Bank Correspondent Cross-Border B2B 76

Payments Source

JANUARY 8, 2019

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

Correspondent Bank 86

Correspondent Bank Correspondent Cross-Border Payments Cross-Border 86

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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Correspondent Cross-Border Payments Correspondent Bank Cross-Border 64

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.

Cross-Border Payments 64

Cross-Border Payments Cross-Border Innovation Correspondent Bank 64

Finextra

JUNE 19, 2024

Taking to the stage on the second and final day of EBAday in Lisbon, Portugal were Erik Frantz, executive director, financial institutions – banks, CaixaBank; Roisin Levine, head of UK and Europe partnerships, Wise Platform; Rafael Linde, head, international development and global relationship management, Cecabank; Dean Sposito, head of institutional (..)

Correspondent Bank 59

Correspondent Bank Cross-Border Payments Cross-Border Correspondent 59

The Fintech Times

FEBRUARY 21, 2024

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Finovate

OCTOBER 21, 2024

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. with Lloyds Banking Group and UBS.

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Cross-Border Payments Cross-Border Visa FedNow 59

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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Cross-Border Payments Cross-Border Correspondent Bank Correspondent 52

PYMNTS

JULY 7, 2020

B2B payments are undergoing a vast digital transformation, with solutions providers stepping up to offer more speedy options as companies look to expand internationally. Developments From Around The World Of Smarter Payments. Businesses are well aware of the boost that cross-border commerce can have on their bottom lines.

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Cross-Border Payments Cross-Border Payments API 62

The Fintech Times

FEBRUARY 28, 2024

Payments are arguably the face of fintech. 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.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 59

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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Real Time Payments Cross-Border Payments Cross-Border Central Bank 98

PYMNTS

JULY 11, 2019

There has been, seemingly, a parade of announcements geared toward bringing B2B payments into the digital age, bringing about the end of paper, speeding the time for settlement of transactions and making payments across borders cheaper and more transparent. Transactions settle in one business day, he said.

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Correspondent Bank Correspondent Blockchain Bitcoin 67

PYMNTS

JULY 15, 2020

In a conversation with PYMNTS, Nader discussed the role payments plays in helping (or hampering) a company’s global growth ambitions, and the value of an efficient global payments strategy on giving smaller companies a competitive edge that had once been out of reach. New Goals, Old Tech. Although the globalization of U.S.

Cross-Border 67

Cross-Border Cross-Border Payments Multi-Currency Correspondent Bank 67

Fintech Finance

JUNE 26, 2024

SmartStream , the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces a significant upgrade to its Advanced Payment Control (APC) solution. Banks face major challenges in maintaining connections to multiple payment systems and supporting various messaging formats, each system has its own set of rules.

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Cross-Border Payments Reconciliation Cross-Border Instant Payments 98

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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Cross-Border Payments Cross-Border Visa Blockchain 51

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. “International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

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ISO 20022 ISOs SWIFT Cross-Border 76

Payments Source

OCTOBER 23, 2016

The flow of money between countries is changing, and if banks and merchants get caught unaware, a reliable revenue stream will get shut off like a spigot.

Cross-Border Payments 93

Cross-Border Payments Cross-Border Payments Correspondent Bank 93

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Correspondent Banking . Correspondent banking is not the only way that money transfers can be conducted.

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Regulatory Compliance Correspondent Bank Compliance Correspondent 89

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

Fintech News

JULY 14, 2024

Morgan, and Standard Chartered to facilitate payments for their customers. 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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Cross-Border Correspondent Bank Multi-Currency Settlement 107

Fintech News

AUGUST 12, 2024

Global payments company Nium is enhancing its presence in Latin America, with a focus on expanding its operations in Brazil. The company has recently applied for a Payment Institution License in Brazil, which will allow it to offer payment services, including managing funds in BRL and facilitating real-time payments through the Pix system.

Cross-Border 107

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 107

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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Correspondent Bank Correspondent Due Diligence Wire Transfer 51

PYMNTS

OCTOBER 9, 2019

Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments.

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Blockchain Cross-Border Payments Cross-Border Correspondent Bank 75

PYMNTS

NOVEMBER 13, 2020

Looking at the plight of migrant workers and those working abroad during the COVID event, PYMNTS November 2020 Smarter Payments Tracker® powered by Nium notes that, “Legacy FIs can struggle to provide affordable remittance services that meet migrant workers’ needs, and their dependency on correspondent banking networks can drive up service costs.

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Cross-Border Cross-Border Payments Correspondent Bank Payments 103