The Fintech Times

MARCH 6, 2025

Unifying global fiat and stablecoin payments, stablecoin payments infrastructure provider BVNK has announced a new embedded wallet. They have existed in today’s market for some time but have had limited capabilities to manage stablecoin, crypto and fiat payments in one place. Embedded wallets are not a novelty.

Stablecoins 59

Stablecoins Payment APIs and Integration FedWire Multi-Currency 59

PYMNTS

OCTOBER 6, 2016

SWIFT’s year has been filled with controversy, the apex of which occurred when reports surfaced that cyberthieves infiltrated Bangladesh Bank via the SWIFT messaging system in February, resulting in $81 million stolen from the bank’s account at the New York Federal Reserve.

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SWIFT Global Payments Innovation Cross-Border 75

The Fintech Times

DECEMBER 1, 2024

Following its collaboration with Dandelion, HSBC now offers fee-free transfers to over 100 destinations in more than 60 currencies, providing a seamless, real-time payment experience that bypasses the traditional correspondent banking model. Reliance on multiple intermediaries often led to high costs and longer processing times.

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Cross-Border Payments Cross-Border Multi-Currency Wire Transfer 59

Fintech Review

NOVEMBER 20, 2024

In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Multi-Currency FinTech 115

Fintech Finance

OCTOBER 21, 2024

Mastercard introduced a new product innovation, Mastercard Move Commercial Payments, that will enable banks to facilitate near real-time, predictable and transparent commercial cross-border payments. Fully compatible with existing correspondent banking arrangements between respondents and correspondents.

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

Stax

JANUARY 21, 2025

If youre like many people, its been a while since you last made a payment exclusively with cash. said theyve used electronic payment methods to make a transaction in the past three months. Credit and debit cards, digital wallets , ACH transfers , and other digital payments have become the norm.

Payment Gateways 88

Payment Gateways Gateways PCI DSS Payment APIs and Integration 88

PYMNTS

SEPTEMBER 5, 2019

A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. With this latest standard, a payer’s bank can designate funds in advance, assuring upcoming payments will clear. .

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SWIFT ISO 20022 Authorization API 72

Fintech Finance

MARCH 10, 2025

Clear Junction , a global leader in cross-border payments for regulated financial institutions, has once again been recognised in the 2025 FT 1000 , the Financial Times’ prestigious ranking of Europe’s fastest-growing companies.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Correspondent Multi-Currency 59

PYMNTS

OCTOBER 19, 2020

Digital payments form a critical facet of the world’s economy, facilitating the flow of tens of trillions of dollars among individuals and businesses each year. These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking.

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Cross-Border Payments Cross-Border Correspondent Bank Technology 77

Currencycloud

MAY 22, 2024

Swift (Society for Worldwide Interbank Financial Telecommunications) is the global messaging system used by the correspondent banking network and financial institutions to manage cross-border transactions. Swift is an all-in-one provider, offering secure payments in global currencies that can be received by everyone, everywhere.

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SWIFT Cross-Border Correspondent Bank Correspondent 52

Fintech Finance

FEBRUARY 22, 2024

Numeral, the payment technology provider, today announces the support of Swift payments , enabling companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries, in addition to local European SEPA as well as UK Bacs, FPS, and CHAPS payments, from a single platform. “At

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SWIFT Technology Cross-Border Payments Correspondent Bank 52

PYMNTS

FEBRUARY 3, 2017

SWIFT is putting the pressure on its members to enhance their cybersecurity capabilities, according to reports by SC Magazine. According to the publication, SWIFT is encouraging and, in some cases, threatening its member banks to deploy more sophisticated cybersecurity measures.

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SWIFT Cybersecurity Correspondent Compromise 64

PYMNTS

AUGUST 31, 2020

With estimates that over 500 billion real-time payments will be processed over the next five years, the race is on for upgrades and integrations that allow financial institutions (FIs) and their clients to participate in a real-time payments space that is expected to reach nearly 53 billion real-time payment transactions by 2024.

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Real Time Payments Online and Mobile Banking Correspondent Bank SWIFT 135

Fintech Finance

MARCH 6, 2025

Clear Junction , a global leader in cross-border payments for regulated financial institutions, has once again been recognised in the 2025 FT 1000 , the Financial Times prestigious ranking of Europes fastest-growing companies.

Cross-Border Payments 52

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

Fintech Finance

OCTOBER 21, 2024

Over the past year Wise Platform , Wise’s global payments infrastructure for banks, financial institutions and larger enterprises, has further enhanced its product suite for partners and significantly expanded its global regulatory footprint.

Cross-Border 98

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

PYMNTS

SEPTEMBER 17, 2018

The fraudsters who hacked their way into the Bangladesh central bank two years ago got there by getting into software tied to the SWIFT financial platform. Upon success with the phishing, the hackers “moved through the bank’s network” to access computers that victimized banks used to send and receive messages over SWIFT systems.

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SWIFT Phishing Ransomware Central Bank 75

PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Kicking Free Of Correspondent Banking. Kicking Free Of Correspondent Banking.

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Cross-Border Payments Cross-Border Correspondent Bank Correspondent 85

Payment Savvy

JUNE 18, 2020

According to analysts, in 2012, it was observed that SWIFT facilitated up to $6 trillion per day. billion payment instructions were sent through the network. Today, it is the world’s most significant electronic payment tracking system. So, what is SWIFT? What is SWIFT? A Brief History of SWIFT.

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SWIFT Funds Transfer Facilitators Correspondent Bank 52

PYMNTS

DECEMBER 18, 2018

SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. According to SWIFT, the SWIFT gpi service has improved the customer experience in cross-border payments by boosting speed, transparency and the traceability of payments.

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Cross-Border SWIFT Cross-Border Payments Correspondent Bank 55

PYMNTS

APRIL 3, 2019

It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. During the second quarter, the company will enable payments to more than 14 countries spanning the U.S.,

Cross-Border Payments 92

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

The Fintech Times

FEBRUARY 21, 2024

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Most notably, the European Payment Council ’s ‘One-Leg Out Instant Credit Transfer (OCT Inst)’ scheme went live in December.

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Fintech News

DECEMBER 10, 2023

In a global financial landscape where efficiency and accuracy are paramount, the challenge of failed payments is a significant hurdle for small and medium-sized enterprises (SMEs) and financial institutions (FIs), particularly in a vibrant market like Singapore.

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Addressing Fraud Prevention Financial Inclusion Payments 117

PYMNTS

DECEMBER 20, 2018

When it comes to corporate transactions (and, well, payments in general), two inexorable trends include speed and distance. SWIFT , the messaging service, said earlier this week that its SWIFT global payments innovation (gpi) service is being used for a majority — as in 55 percent — of its cross-border traffic.

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Cross-Border SWIFT Federal Reserve Fed 53

Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

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Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

PYMNTS

NOVEMBER 8, 2017

Friction abounds in the world of B2B payments, especially amid international payments across far-flung supply chains. To that end, SWIFT debuted its global payments innovation initiative (gpi) earlier this year, a solution which looks to boost the infrastructure underpinning the movement of money on a global scale.

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SWIFT B2B Correspondent Bank Overlay Service 43

PYMNTS

JULY 18, 2017

SWIFT is opening up its KYC registry to more banks around the globe. The payments messaging company said Monday (July 17) that its KYC Registry is now open to all supervised financial institutions around the globe. The Registry enables banks and FIs to share and access KYC data and documents.

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SWIFT Office of the Comptroller of the Currency Due Diligence Correspondent Bank 40

PYMNTS

OCTOBER 7, 2019

First Investment Bank ( Fibank ) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT data shows that about 36 percent of gpi transfers reach their destination within 5 minutes. Fibank has correspondent accounts in not only major currencies, like the U.S.

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SWIFT International Payments Correspondent Payment Message 43

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.

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SWIFT Transactions Cross-Border Correspondent Bank 43

PYMNTS

MARCH 7, 2019

Corporate payments are still not a guaranteed use case for cryptocurrencies. Co-Founder Dmitry Lazarichev explained to PYMNTS why the company remains confident in cryptocurrency’s potential for corporate payments. Cross-Border Payments Friction.

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B2B Cross-Border Cross-Border Payments Correspondent Bank 67

PYMNTS

AUGUST 16, 2019

Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. A Call for Transparency.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

DECEMBER 15, 2020

Real-time rails continue to gain traction as solution providers debut new tools wielding existing instant payment infrastructure to enhance their offerings to business customers. Visa Talks Payment Rail Innovation. Bank Of America Wields SWIFT gpi. Scotiabank Launches Real-Time Payments For Businesses.

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Innovation Cross-Border Payments Cross-Border Real Time Payments 94

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

Fintech Finance

JANUARY 2, 2024

StoneX has announced that it is one of the first financial organizations to enable Swift ’s new leading-edge solution for cross-border payments. Cross-border payments have long been a complex area marked by ongoing regulatory and compliance changes, bank offline hours, and increasing competition.

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Cross-Border Payments Cross-Border SWIFT Verification 59

PYMNTS

SEPTEMBER 6, 2018

However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. To that end, IBM said it launched its Blockchain World Wire , billed as a cross-border payment system that is powered by the Stellar blockchain network. The process integrates the World Wire API into banks’ payment systems.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

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Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

Payment Savvy

MARCH 22, 2023

Most international money wires have been possible with the infamous SWIFT code. If you’re dealing with international payments regularly, you must know of its existence. This article discusses the definition and purposes of the SWIFT network system. What Is the SWIFT Banking System? How Does the SWIFT System Work?

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SWIFT IBAN Transactions Wire 52

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, payments providers are stepping in creating solutions that solve speed and security issues for companies while maintaining seamless user experiences.

Cross-Border Payments 72

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