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.

Correspondent Bank 51

Correspondent Bank Correspondent Due Diligence Wire Transfer 51

The Finance Weekly

NOVEMBER 3, 2021

For both internal and external sources, each balance has to match the corresponding account in the general ledger. Due to the inefficiencies and error proneness of account reconciliation through traditional processes, finance teams should automate through , new technologies in the industry. Adopting Superior Methods in 2021.

Reconciliation 130

Reconciliation Automation Accounts Finance 130

Fintech Finance

MARCH 18, 2025

With StoneX Payments broad foreign exchange capabilities and correspondent network and Bamboos extensive payment connections and platform, clients should see benefits in terms of FX pricing, more reliable settlement, improved acceptance rates, and greater cash flow efficiency. The transaction is subject to regulatory approval.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Correspondent Payments 52

PYMNTS

APRIL 17, 2018

A new report by the General Council for Islamic Banks and Financial Institutions (CIBAFI) said the decline of correspondent banking relationships disproportionately impacts Islamic financial institutions (FIs). The group’s analysis found that the impact of this trend on Gulf and European FIs was relatively minor.

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Correspondent Correspondent Bank Wire Transfer Money Laundering 44

Fintech Finance

MARCH 6, 2025

With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies. The service is fully operational and accessible via the banks mobile applications and branch networks, enabling seamless transactions across African borders.

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Cross-Border Payments Cross-Border Correspondent Bank Correspondent 52

Fintech Finance

MARCH 24, 2025

.” Transactions on RTGS.global’s network are conducted Payment vs, Payment (PvP), therefore no deduction fees are taken at the point of transaction, nor is there a requirement to pre-fund either bank account as with correspondent banking services. “This is a game-changer for the market,” continued Treacher.

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Cross-Border Cross-Border Payments B2B Settlement 64

Fintech Finance

MARCH 6, 2025

Known for its fiat and crypto correspondent account services for financial institutions, Clear Junctions continued presence in the FT 1000 is a testament to the trust it has built across the banking, fintech, payments, and digital asset ecosystems.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Correspondent Multi-Currency 52

The Payments Association

NOVEMBER 11, 2024

The vision was a marketplace where consumers could easily switch providers, negotiate better rates, and gain a more holistic view of their finances. The sharing of data, without a direct corresponding increase in revenue streams, has made it a largely unprofitable venture for many financial institutions.

Payment APIs and Integration 88

Payment APIs and Integration API Privacy Regulations 88

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

PYMNTS

SEPTEMBER 24, 2020

Correspondent Banking . Financial institutions (FIs) traditionally offer remittances through correspondent banking relationships , in which banks in different countries open deposit accounts to handle cross-border payments. Correspondent banking is not the only way that money transfers can be conducted.

Regulatory Compliance 89

Regulatory Compliance Compliance Correspondent Bank Correspondent 89

PYMNTS

SEPTEMBER 23, 2020

There are three new features — Intelligent Collections, Intelligent Vendor Management and Intelligent Planning — which are intended to remove time-wasting steps and friction and improve cash flow for corporate finance teams, the release stated.

Automation 70

Automation Finance Correspondent Close Processes 70

Fintech Finance

JULY 12, 2024

In partnership with Mastercard, Alchemy Pay can identify users based on their risk levels and guide them through corresponding workflows. The post Alchemy Pay Partners with Mastercard to Streamline Account Opening & Reduce Fraud appeared first on Fintech Finance.

Visa 104

Visa Accounts Payment APIs and Integration Payment Gateways 104

Fintech Finance

OCTOBER 21, 2024

Fully compatible with existing correspondent banking arrangements between respondents and correspondents. The post Mastercard Transforms Cross-Border Payments for Banks With Industry-First Innovation appeared first on FF News | Fintech Finance.

Cross-Border Payments 104

Cross-Border Payments Cross-Border Visa Near Real-Time 104

Finextra

OCTOBER 21, 2024

NYSE: MFG) and one of the largest full-service financial institutions in the world, jointly announced a landmark agreement for correspondent bank network connectivity for international trade. (“Mizuho Bank”), the banking arm of Mizuho Financial Group, Inc.

Correspondent Bank 59

Correspondent Bank Correspondent Finance Agreements 59

Fintech Finance

OCTOBER 29, 2024

The network of over 5,600 women banking correspondents (BCs) in Maharashtra have played a crucial role in reaching out to women, providing them with the support needed to open and maintain their bank accounts.

Accounts 95

Accounts Financial Literacy Correspondent Enrollments 95

Fintech Finance

OCTOBER 22, 2024

The new virtual account, exclusively held by HSBC, provides each business with a dedicated account number, which enables the domestic bank to identify the corresponding merchant for each payment and carry out reconciliation seamlessly, so the merchant can receive their funds much more quickly.

Cross-Border 98

Cross-Border Accounts Cross-Border Payments Reconciliation 98

PYMNTS

MAY 29, 2019

.” It’s a challenge that has weighed particularly heavy on banks’ ability to address the global trade finance gap, according to the International Chamber of Commerce (ICC). This only exacerbates the preexisting gap between the demand and supply of trade finance.” “Why is this so significant?”

Regulations 43

Regulations Finance Correspondent Bank Correspondent 43

Fintech Finance

OCTOBER 21, 2024

Rising Demand for Correspondent Services Wise Platform’s Correspondent Services, launched at Sibos last year in collaboration with Swift , allows partners to send and receive international payments instantly.

Cross-Border 98

Cross-Border Global Payments Cross-Border Payments Multi-Currency 98

Fintech Finance

JULY 12, 2024

When it comes to finding, analyzing and acting on their company’s financial information, corporate finance departments, treasurers and CFOs expect the same ease and convenience they enjoy while managing their personal finances. The data captured from the transaction inquiry is automatically routed to the service team.

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Transactions Correspondent Finance Wire 98

PYMNTS

APRIL 22, 2019

The massive global trade finance gap is the topic of conversation for many banks and FinTech firms looking to strengthen their position in the market. However, both sides struggle with making trade finance profitable, and maintaining compliance. ” Below, PYMNTS looks at some of the data points behind these conclusions. .

Finance 53

Finance Financial Inclusion Compliance Correspondent Bank 53

PYMNTS

OCTOBER 16, 2020

The traditional correspondent banking network is one major speedbump that stops financial institutions (FIs) from providing speedy, inexpensive, cross-currency and cross-border transfers, Lembo explained, but financial services providers can adopt new technology and approaches to safely streamline these transactions.

Cross-Border Payments 85

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 85

Fintech Finance

OCTOBER 18, 2024

As one of the pioneering payment processors in Latin America, Payválida has the largest network of partners for cash payments at physical branches and banking correspondents, in addition to offering customized alternative payment solutions for businesses and their customers, to facilitate smooth transactions that promote successful sales.

Alternative Payment Methods 97

Alternative Payment Methods B2C Correspondent Payments 97

PYMNTS

JULY 14, 2020

When Citigroup and the International Finance Corp. Since its 2009 debut, the fund has connected businesses to $35 billion in trade finance. Since its 2009 debut, the fund has connected businesses to $35 billion in trade finance. Their tie-up led to the creation of the IFC’s Global Trade Liquidity Program.

Finance 61

Finance Correspondent Bank Risk Correspondent 61

Fintech News

MARCH 26, 2024

By facilitating exchanges of ideas and best practices, Programme Sirius intends to help MSMEs adopt environmentally friendly operations, gain access to sustainability financing, and explore new growth avenues in a low-carbon economy.

APACS 103

APACS FinTech SARS Authorization 103

PYMNTS

DECEMBER 30, 2020

Payactiv 's Earned Wage Access (EWA) program is exempt from federal lending law under new rules from the Consumer Finance Protection Bureau (CFPB), according to a press release.

CFPB 106

CFPB Payroll Correspondent Rules 106

Fintech Finance

JUNE 26, 2024

This empowers financial institutions to address problems at the source and understand the effort required for different exception types, payment systems, or correspondent banks – improving overall payment processing efficiency.

Cross-Border Payments 98

Cross-Border Payments Reconciliation Cross-Border Instant Payments 98

PYMNTS

JANUARY 20, 2021

Corporate finance teams were not simply tasked with finding ways to continue operations in a remote work environment as a result of the coronavirus crisis. There were cases where some of these finance teams could not even understand what their cash visibility looked like.”. The Biggest Pain Points, Revealed.

B2B 125

B2B Cross-Border Payments Correspondent Bank Cash Management 125

Fintech Finance

OCTOBER 15, 2024

PSPs save money as they no longer need to set up correspondent banking to hold money overseas, nor do they need to pay banks per transaction. The post RTGS.global Launches Unique Solution for PSPs to Drive ‘exponential Growth’ With Frictionless Foreign Exchange Money Transfers appeared first on FF News | Fintech Finance.

Cross-Border 98

Cross-Border Liquidity Management Cross-Border Payments Correspondent Bank 98

PYMNTS

AUGUST 21, 2020

Indeed, making payments across borders remains one of the biggest pain points for small- and medium-sized businesses, as well as one of the biggest opportunities for FinTechs and other FinServ providers, thanks to the continued lack of transparency and speed in traditional global payment methods that rely on the correspondent banking system.

Multi-Currency 69

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

PYMNTS

JANUARY 11, 2018

overwhelmingly plan to expand financing activity this year. might be expanding, gaps in business finance – especially among SMBs – remain. Among the biggest gap in the world right now is trade finance. Even more recent analysis from Euromoney in its Trade Finance 2018 report highlighted the struggling trade finance space.

Finance 50

Finance FinTech Money Laundering Correspondent 50

PYMNTS

OCTOBER 19, 2020

These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. The biggest hurdle the cross-border payments industry faces is navigating the networks that govern payment flows in every correspondent bank through which funds pass.

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Technology 77

M2P Fintech

MARCH 24, 2025

As blockchain transforms the BFSI sector, blockchain-based lending is expected to experience corresponding growth, driven by its potential to disrupt traditional lending models. Approximately 40% of lenders foresee decentralized finance significantly challenging existing loan providers.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

PYMNTS

JUNE 10, 2020

The following Deep Dive examines how cross-border remittances are typically conducted via a correspondent banking model and details how these payments’ slow processing times and high fees are exacerbated by complex and overlapping government regulations. How Correspondent Banking Works. Obstacles To Smooth Remittances.

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Correspondent Bank Correspondent Process Cross-Border 63

Fintech Finance

JUNE 5, 2024

Blockchain technology and cryptocurrencies will definitely be at the core of the evolution of correspondent banking and we are happy to partner with Ripple to be a part of this process. The post Ripple Partners With Clear Junction to Enhance UK and EU Cross-Border Payments appeared first on Fintech Finance.

Cross-Border Payments 98

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

PYMNTS

NOVEMBER 27, 2019

Many EU residents have to wait a long time for payments to work their way through the region’s banking systems, and that the “correspondent banking model” is outdated and too pricey. Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC).

Central Bank 94

Central Bank Digital Currency Distributed Ledger Technology (DLT) CBDC 94

Nanonets

JULY 24, 2023

Finance reconciliation plays a pivotal role in ensuring the reliability and accuracy of a business's financial records. What is finance reconciliation? Gartner defines finance reconciliation as “the process of comparing two sets of financial records to ensure they are in agreement.”

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

CB Insights

JANUARY 24, 2017

Funding to the cannabis industry has skyrocketed over the past 4 years with 2015 hitting a high of over $220M in equity financing to private companies. The uptick in funding corresponds to the loosening of marijuana restrictions. As of 2016, 28 … Continued.

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Correspondent Finance Continuity 55