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How China Fuels Alternatives To Correspondent Banking

PYMNTS

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. Timing And Control.

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Empowering Financial Institutions: An Interview with the CEO of Almond FinTech

Fintech Review

Describe how Almond FinTech ensures the affordability of cross-border transactions for end-users. Almond’s SOE puts end-users at the core of our mission. Once a transfer request is received, the SOE identifies the best route and shares the corresponding rate with the institution and consumer.

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Real-Time Innovators Bring Data To Corporates

PYMNTS

Increasingly, those value-added services are not only focusing on speed of payment, but also enhancing the data that end-users can access about their transactions, with new solutions from Bank of America and Scotiabank some of the latest to bring real-time rails to corporates. Visa Talks Payment Rail Innovation.

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Financial Authorities Press Collaboration To Improve Global Corporate Payments

PYMNTS

While individual markets and solution providers may be able to address these key pain points, the BoE, BoC and MAS emphasized the importance of collaboration — not only between market authorities, but among corporate end users, commercial banks and central banks.

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FPC 2023 Spring Member Meeting

Faster Payments Council

Speakers: Elizabeth McQuerry, Glenbrook Partners; Mike Sklow, Goldman Sachs; Samson Rajan; JP Morgan; Miriam Sheril, Form3 1:30pm-2:10pmCT: Panel Session – Business End-Users Mega Use Cases (City Beautiful Ballroom AB) As more capabilities become available for faster payments, business end users are finding creative ways to use the services.

FPC 88
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 How To Cut The Phishing Lines That Bind Us

PYMNTS

And, said Xie, the fraudsters have been careful to calibrate their email and text communications to be serious and official in language (such as in correspondence purported to be from a bank, complete with official signature fields) or more colloquial (such as a text masquerading as being from a co-worker) in order to snare victims.

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nanopay: The Global Middleman For Payments

PYMNTS

Currently, traditional correspondent banking requires that funds be held in foreign banks in the local currency, so there is credit risk involved with that institution — and banks are often working with several of them, so multiply that risk accordingly. Finally, it reduces the spread banks must offer to the end user.