Fintech News

JUNE 4, 2024

Currently, FX services provided by correspondent banks are often costly, slow, and complex, posing liquidity, credit, and settlement risks to participants. Decentralised solutions, CBDC, and interconnected payment infrastructures offer promising paths to improve cross-border payments.

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Cross-Border Payments Cross-Border CBDC Settlement 106

PYMNTS

MAY 3, 2019

It seems that’s the journey for cross-border payments, which are in the midst of a digital disruption as innovators focus on addressing a range of friction points, from sluggish speeds to high costs. Only a few years ago, small businesses lagged in global payments technology uptake.

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Global Payments Cross-Border Payments Cross-Border Small Business 60

Clearly Payments

NOVEMBER 23, 2024

For example: RBC (Royal Bank of Canada) works with Moneris, one of Canada’s largest payment processing companies. Moneris provides businesses with POS systems, online payment tools, and fraud protection. CIBC is uses an American partner called Global Payments to handle their payment processing.

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Credit Union Process Online and Mobile Banking Processors 59

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.

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Cross-Border Cross-Border Payments B2B Settlement 55

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. This positions Alchemy Pay as an expert in delivering solutions that facilitate mainstream accessibility to fiat payments for crypto and Web3 services.

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Visa Accounts Payment APIs and Integration Payment Gateways 103

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. BS2 is leveraging Nium’s Global FX product to reduce costs and enable real-time payouts between Brazil and key trading partners like China and the UAE.

Cross-Border 108

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 108

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

Fintech Finance

OCTOBER 18, 2024

FinMont , the global payment orchestration platform and Payválida have announced an exciting new partnership aimed at enhancing the payments landscape for e-commerce across the travel industry. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes.

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Alternative Payment Methods B2C Correspondent Payments 95

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.

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Correspondent Bank Correspondent Global Payments Payments 62

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.

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

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. that develops solutions for digital currency. Open Banking. We offer a single API across all banks,” Kirsch told Webster.

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

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.

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Addressing Fraud Prevention Financial Inclusion Payments 119

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. Mixing Crypto With Fiat.

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B2B Cross-Border Cross-Border Payments Correspondent Bank 67

Fintech Finance

NOVEMBER 27, 2024

billion corresponds to the B2B segment. As a regulated payment institution, we at Bitso Business are pleased to partner with companies like BlindPay, allowing them to have efficient and secure access to local payment systems across Latin A merica,” said Gabriele Zuliani, Director of Bitso Business.

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Cross-Border Cross-Border Payments Technology B2B 91

Fintech Finance

JULY 12, 2024

“CashPro Search is a major time saver for our clients who’ve used it 7 million times since it was initially deployed,” said Christian Stolcke, head of Financial Institutions, NBFIs and Governments in Global Payments Solutions (GPS) at Bank of America.

Transactions 97

Transactions Correspondent Finance Wire 97

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 97

Real Time Payments Cross-Border Payments Cross-Border Central Bank 97

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

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Mitigation Risk Correspondent Bank Correspondent 52

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.

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

PYMNTS

APRIL 29, 2020

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. In a recent interview with PYMNTS, Bankera Co-founder Vytautas Karalevi?ius

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Cryptocurrency Cross-Border Compliance AML 113

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. percent decline in the number of correspondent banking relationships in 2017 compared to the year before.

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Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

Fintech News

APRIL 11, 2024

This, combined with the flexibility to operate across multiple currencies, facilitates seamless global transactions by allowing purchases to be made internationally while settling payments locally, thus avoiding the complexities of foreign exchange.

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Cross-Border Payments Cross-Border APACS Payments 121

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.

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Payments ISO 20022 Retail Payments Settlement 96

PYMNTS

SEPTEMBER 4, 2020

Earlier this year, Spain-based CaixaBank was one of six financial institutions in the country to sign up for the Swift global payments innovation (Swift gpi), the new standard for cross-border payments that promise to improve the customer experience by increasing speed, transparency and end-to-end tracking.

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Cross-Border Payments Cross-Border Correspondent Bank SWIFT 75

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).

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Correspondent Bank Correspondent Global Payments Payments 31

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.

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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.

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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.

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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

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

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. That doesn’t mean Uphold isn’t anticipating competition, however.

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Cross-Border Cross-Border Payments Correspondent Bank Correspondent 73

PYMNTS

MAY 22, 2018

Flywire , a provider of global payment and receivables solutions, has announced a major expansion of its U.K. Flywire processes billions of dollars in payments around the world each year. and European operations and team. Since June 2017, Flywire ’s U.K. team has grown by 25 percent, with plans to double in the near future.

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Correspondent Reconciliation Volume Process 52

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. .

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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

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. and Australia’s NPP. That resistance doesn’t reflect the needs of smaller, regional banks.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

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

JUNE 22, 2018

On average, Ripple costs 81 percent less than the correspondent banking network used for decades to send global payments. And with Ripple, companies can track their payments and see precisely how much it will cost to complete the transfer.

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Cross-Border Payments Correspondent Bank Cross-Border Correspondent 57