PYMNTS

AUGUST 31, 2020

“Cloud payments come with a number of advantages over their traditional counterparts. The first is improved speed, shown by the adoption of cloud technology from global payments network SWIFT.

Real Time Payments 135

Real Time Payments Online and Mobile Banking Correspondent Bank SWIFT 135

Payments Source

MARCH 7, 2019

INTL FCStone's Global Payments Division's foreign currency pricing has picked up enough momentum to extend beyond its initial launch to more than 350 correspondent banks globally.

Correspondent Bank 62

Correspondent Bank Correspondent Global Payments Payments 62

Fintech News

DECEMBER 10, 2023

Whether you’re a small company or a large bank, the challenge remains: ensuring that every payment instruction contains the correct data in the right format.” ” For FIs, the consequences are equally daunting, as they face expenses associated with the correspondent banking network.

Addressing 117

Addressing Fraud Prevention Financial Inclusion Payments 117

PYMNTS

JUNE 28, 2016

As of today, 73 new banks have signed on to Swift’s Global payments initiative. The goal of the project is to expand the payment services and experience for customers by upping the speed, transparency and predictability of cross-border payments.

Payment Initiation 40

Payment Initiation Global Payments Cross-Border Payments Cross-Border 40

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 Cross-Border Payments Friction.

B2B 67

B2B Cross-Border Cross-Border Payments Correspondent Bank 67

PYMNTS

DECEMBER 17, 2019

Payment rails are getting more attention these days, and there is an increasing focus on offering a standardized, relatively seamless experience that can be locked and loaded by various operators with minimal hassle. Open Banking. We offer a single API across all banks,” Kirsch told Webster. It’s moving slowly.”.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 52

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.

Real Time Payments 98

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

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. Although the globalization of U.S.

Cross-Border 67

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

PYMNTS

JANUARY 13, 2020

“Our objective is to offer [SMBs] the ability to hedge all parts of their production processes, and to allow these corporates to have access to a digital payments and hedging platform,” said INTL FCStone Global Payments Division Global Head Carsten Hils. “We

Mitigation 52

Mitigation Risk Correspondent Bank Correspondent 52

PYMNTS

NOVEMBER 21, 2018

Working with HSBC , the authorities assessed contributions and feedback from corporates and commercial banks to discuss current pain points, potential future capabilities and various use cases of global payments and settlements. Reuters reported earlier this month that the Financial Stability Board (FSB) counted a 4.1

Authorization 49

Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

PYMNTS

APRIL 29, 2020

ius offered insight into exactly why crypto businesses are so difficult to bank. Yet doing so will be key, he said, to supporting the overall evolution of the global payments industry. ius said he is confident that cryptocurrencies will gradually become a standard part of the overall global payments infrastructure.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

The Paypers

JUNE 2, 2021

Datasoft , a global provider of foreign exchange and global payments software solutions, has launched FxOffice Platform-as-a-Service (PaaS).

Correspondent Bank 31

Correspondent Bank Correspondent Global Payments Payments 31

PYMNTS

SEPTEMBER 4, 2020

Two years ago, José Ignacio Goirigolzarri, Bankia’s chairman, said his bank could be a perfect fit for several of its rivals, per the report.

Cross-Border Payments 75

Cross-Border Payments Cross-Border Correspondent Bank SWIFT 75

Fintech Finance

JULY 19, 2024

A global payments technical issue caused The Bank of England ‘s CHAPS payment system yesterday (Thursday 18th July) to fail leaving a large proportion of time-sensitive and high-value payments delayed.

Payments 98

Payments ISO 20022 Retail Payments Settlement 98

PYMNTS

AUGUST 1, 2019

In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

JULY 26, 2019

Increasingly, the financial services industry is targeting sluggishness in corporates’ cross-border payments, too, through technologies like blockchain and the development of faster payment rails around the globe. Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely.

Cross-Border Payments 64

Cross-Border Payments Cross-Border Innovation Correspondent Bank 64

PYMNTS

OCTOBER 28, 2019

Cross-border payments firm Western Union has rolled out full application programming interface (API) access to domestic and global payment applications, the company said in a press release on Monday (Oct. The expanded APIs align with the European open banking and PSD2 requirements that became effective in September.

API 51

API International Payments Payment APIs and Integration Cross-Border 51

PYMNTS

JUNE 13, 2019

The transactions between businesses are done on an account-to-account basis, as opposed to using the existing correspondent banking network — which, of course, relies on intermediaries.

B2B 75

B2B Distributed Ledger Technology (DLT) Cross-Border Cross-Border Payments 75

PYMNTS

FEBRUARY 20, 2019

The company deploys bitcoin to enable seamless cross-border payments for both businesses and consumers, bypassing the traditional correspondent banking model.

Cross-Border Payments 66

Cross-Border Payments Cross-Border Payment APIs and Integration B2B 66

PYMNTS

APRIL 5, 2016

These profits are coming from the 3–5 percent foreign exchange fees that banks can charge for conducting a cross-border transfer, often through the costs that get tacked on as a payment moves between corresponding banks. To India, And Beyond . That doesn’t mean Uphold isn’t anticipating competition, however.

Cross-Border 73

Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

PYMNTS

SEPTEMBER 11, 2019

“Our goal is to deliver global payment infrastructure choice and connectivity as demonstrated through our recent strategic acquisitions and partnerships, including our relationship with R3. In July, Mastercard closed on its acquisition of cross-border payments company Transfast, which works with both P2P and B2B payments.

Cross-Border Payments 51

Cross-Border Payments Cross-Border Visa Blockchain 51

Fintech Finance

JUNE 6, 2024

BS2 will use Nium’s Global FX product to lower FX costs and provide more real-time payouts between Brazil and popular trading corridors with China and the UAE. ” Nium’s banking network is comprised of global banks, national banks, and payment service providers, to provide a versatile and robust payment product suite. .

Settlement 52

Settlement Cross-Border Cross-Border Payments Correspondent Bank 52

PYMNTS

OCTOBER 2, 2018

“Our success, as an organization, is built on our international payments expertise in the world of corporate and financial institutions payments,” AscendantFX’s global payments solutions vice president, Dan Caputo, said.

Cross-Border Payments 55

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

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.”. For small- and medium-sized businesses (SMBs), cross-border payments fees can be crippling.

B2B 41

B2B Cross-Border Payments Cross-Border Correspondent Bank 41

PYMNTS

JUNE 22, 2018

BBVA planned to offer Ripple’s service to a small group of clients as a tryout, giving corporate customers a quicker and cheaper way to pay overseas suppliers and execute other international transactions, Alicia Pertusa, head of the lender’s Digital Transformation in the Investment Banking unit, had said at the time.

Cross-Border Payments 57

Cross-Border Payments Correspondent Bank Cross-Border Correspondent 57

PYMNTS

NOVEMBER 21, 2018

Citi ’s Treasury and Trade Solutions (TTS) announced that it has expanded its Citi Payment Insights offering to more than 20 new markets, making it available in more than 70 markets. Citi’s offering goes beyond any other offerings I have seen in the marketplace thus far.”.

Cross-Border 52

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 52

PYMNTS

AUGUST 16, 2019

Many are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets, including with TCH’s RTP system in the U.S. That resistance doesn’t reflect the needs of smaller, regional banks. innovations.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

Fintech Finance

FEBRUARY 22, 2024

We aim to support more European payment schemes and integrate with more European banks while adding more global payment options to our platform through global networks like Swift and global banks like J.P.

SWIFT 52

SWIFT Technology Cross-Border Payments Correspondent Bank 52

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. The company announced Tuesday (May 23) that its Tracker is now available to help businesses track global payments as they occur.

SWIFT 43

SWIFT Transactions Cross-Border Correspondent Bank 43

PYMNTS

AUGUST 21, 2020

There are signs that the wheels are beginning to churn once again, however, and though not every industry will recover at the same pace, there is evidence that global trade is once again on the rise. Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify.

Multi-Currency 69

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

PYMNTS

APRIL 3, 2019

In reference to costs, the average global remittance (overall) cost stood at 7 percent as of Q4 2018 – 4 percent higher than the 3 percent target set in the Sustainable Development Goals for 2030. By way of concrete examples, the authors cited xRapid.

Cross-Border Payments 92

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

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program.

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B SWIFT 41

PYMNTS

JANUARY 20, 2021

Though common, this strategy fails to present an opportunity to optimize transaction routing throughout the growing number of infrastructures available, whether it be through ACH, SWIFT, Ripple, the correspondent banking network or otherwise. It's the result of looking at the big picture," said Aruldhas.

Correspondent Bank 52

Correspondent Bank Correspondent Payments Volume 52

PYMNTS

APRIL 1, 2019

As noted, SWIFT has rolled out its gpi (short for global payments initiative). Ripple has xRapid, its cross-border payments solution. The average global remittance (overall) cost stood at 7 percent as of Q4 2018 — 4 percent higher than the 3 percent target set in the Sustainable Development Goals for 2030.

Cross-Border 61

Cross-Border Distributed Ledger Technology (DLT) Cross-Border Payments Transactions 61

Finovate

OCTOBER 21, 2024

Relying on multiple rails enables banks and their commercial clients to send near-instant, transparent, and predictable transactions any time of day, any day of the week. Cross-border payments have become increasingly crucial for businesses operating in a global economy.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Visa FedNow 59

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? Increasingly, the financial services industry is targeting slow speeds in corporates’ cross-border payments, too. Currently, there are 0.7

Cross-Border Payments 72

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

PYMNTS

JULY 16, 2018

In a press release, Citi said Citi Payment Insights empowers clients by giving them a complete view of the transaction lifecycle within Citi’s global network and across the correspondent banking ecosystem by integrating the transparency provided by SWIFT’s gpi initiative.

Correspondent Bank 44

Correspondent Bank Payment APIs and Integration Correspondent Real Time Payments 44