PYMNTS

OCTOBER 2, 2018

The API module was developed in collaboration with Bankers’ Bank, which partnered with AscendantFX to enhance the efficiency of its cross-border correspondent banking services. The integration follows ongoing change in the payments landscape, leading banks to demand more agile, efficient payment services.

Cross-Border Payments 55

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

PYMNTS

OCTOBER 6, 2016

. “Today, [interbanking] is the most safe and sound way to move money efficiently and effectively around the world,” she stated, citing the global requirements of financial institutions to remain compliant with regulations, like KYC and risk mitigation efforts. “That’s something I think is very important to know.”

SWIFT 75

SWIFT Global Payments Innovation Cross-Border 75

The Fintech Times

FEBRUARY 28, 2024

Aleks Stefanovski, VP for strategy and business operations at Visa “Another barrier is de-risking by correspondent banks. Most cross-border payments are processed on infrastructure provided by correspondent banks. “Over the past decade, the risk appetite at correspondent banks has declined.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 59

The Fintech Times

FEBRUARY 21, 2024

When payment rails are established, they involve corresponding banks, and transactions are increasingly expected to flow in real-time. Intix addresses a critical aspect of banking operations that extends beyond the external environment to the internal workings of a bank, which often involve multiple systems and silos.

APACS 59

APACS Legal Framework Finance Cross-Border 59

PYMNTS

APRIL 22, 2019

Other top factors behind rejections include an applicant’s poor credit profile, limited institutional ability to underwrite financing, a decline in correspondent banking relationships, and geopolitical and economic risk factors.

Finance 53

Finance Financial Inclusion Compliance Correspondent Bank 53

PYMNTS

MARCH 14, 2017

Forty percent of businesses said their current financial service provider cannot help in their international expansion, while nearly half said their current provider does not offer FX tools like analytics and risk mitigation.

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B Payments 41

PYMNTS

SEPTEMBER 8, 2016

As Frere pointed out, in many cases, the sender of funds doesn’t know how much it will cost them to convert their renminbi to dollars once they leave the bank. They typically are also unaware of all the corresponding banking fees that are assessed on the way from their local bank to MIT.

Cross-Border 43

Cross-Border Payments Cross-Border Payments Correspondent Bank 43

FICO

DECEMBER 23, 2020

So will high-risk products/services such as correspondent banking and trade finance transactions. Now compliance professionals will also need to concern themselves with mitigating ransomware sanctions risks (i.e., whether a payment constitutes a potential violation of sanctions (OFAC) laws) and self-report.”.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

PYMNTS

DECEMBER 23, 2019

” Visa’s existing global network can enable payment senders to mitigate the friction of the traditional correspondent banking network, while retaining a competitive advantage of enabling real-time push payments to recipients, he explained.

Use Case 41

Use Case Cross-Border Cross-Border Payments Push-to-Card 41

Nanonets

APRIL 3, 2024

By outsourcing specialized tasks to virtual professionals, businesses can mitigate risks and maintain transparency in their financial operations. Reconciliation and Review Regular reconciliation of bank accounts, credit card statements, and other financial accounts is crucial to ensure accuracy and identify discrepancies.

Automation 74

Automation Payment APIs and Integration Reconciliation Financial Analysis 74

PYMNTS

JULY 9, 2020

International transactions must be vetted not only by financial institutions (FIs) in the sending and receiving countries, but also by every correspondent bank the payments flow through along the way. There are a variety of solutions aimed at mitigating these pain points, however.

Cross-Border Payments 56

Cross-Border Payments Cross-Border B2B Regulations 56

Fintech News

JANUARY 22, 2025

This lack of preparedness is particularly alarming as it can lead to increased operational friction and costs, especially within correspondent banking networks that rely on seamless transactions. of APAC and 48% globally, offers financial institutions robust tools to mitigate increasing threats. However, a staggering 7.5%

Real Time Payments 120

Real Time Payments APACS ISO 20022 Cross-Border 120