The Fintech Times

MAY 9, 2024

. “This includes cross-border payments , KYC and anti-money laundering (AML), external provider matching, international supply chain relationships, environmental, social and governance ( ESG ) reporting, and digital identity applications.

ISO 20022 69

ISO 20022 Cross-Border Payments Cross-Border Financial Crimes 69

PYMNTS

JULY 29, 2020

In theory, this would help protect China’s global payments data from possible U.S. SWIFT is the world’s largest electronic payment messaging network, although it does not itself do any of the funds transfers.

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ISO 20022 SWIFT Cross-Border ISOs 116

PYMNTS

FEBRUARY 26, 2020

PYMNTS recently spoke with Saqib Sheikh, global head of SWIFT’s ISO 20022 program, to learn more about SWIFT’s commitment to assist the financial community in the transition to the new standard in cross-border payments: ISO 20022. In 2004, financial institutions around the world had had enough.

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ISO 20022 ISOs SWIFT Cross-Border Payments 104

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments. The initiative follows a collaboration between SWIFT and R3 that was announced in January, reports noted.

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SWIFT Blockchain Cross-Border Payments Cross-Border 43

PYMNTS

NOVEMBER 22, 2016

Just weeks after receiving approval to facilitate cross-border payments originating from India, FinTech firm Earthport revealed its newest partner to get operations off the ground. 21) said Earthport is working with India’s third-largest bank, Axis Bank, to enable outbound global payments for its users.

Cross-Border Payments 68

Cross-Border Payments Cross-Border SWIFT Payments 68

PYMNTS

JULY 9, 2020

In a PYMNTS interview , Tim Coats, Oxbury co-founder, chief customer and regulatory officer, said Faster Payments will become a key rail for the farming and agricultural space to accelerate cash flow through its supply chain. SWIFT Certifies Fiorano ISO 20022.

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ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

AUGUST 15, 2019

In news reported by MoneyControl.com, SWIFT, the payments messaging giant, is reportedly looking at testing instant international settlements with local networks in India to speed transactions and make them more transparent. The functions include authentication and exchange rate data.

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Settlement SWIFT Cross-Border Cross-Border Payments 51

Faster Payments Council

SEPTEMBER 12, 2022

The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs.

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FPC Federal Reserve Cross-Border Payments Faster Payments 88

PYMNTS

AUGUST 21, 2020

For the financial services world to address businesses’ global payments needs, Conibear said they must take a holistic approach that goes beyond facilitating cross-border payments or improving upon legacy payment rails. Beyond Payments Initiation.

Multi-Currency 69

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

PYMNTS

APRIL 23, 2018

Payments messaging company SWIFT is hoping to launch real-time payments services in the Asia Pacific region, according to Verdict reports on Friday (April 20). SWIFT gpi , launched last year, provides financial institutions with infrastructure to facilitate transparent, faster cross-border payments.

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Real Time Payments SWIFT Cross-Border Payments APACS 43

The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. “In 2024, cross-border payments volumes will continue to grow rapidly. .”

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

JANUARY 13, 2017

12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks. It’s no certainty, however, that a working application using blockchain for cross-border payments will emerge, SWIFT said. An announcement Thursday (Jan.

SWIFT 41

SWIFT Cross-Border Payments Blockchain Cross-Border 41

PYMNTS

APRIL 23, 2018

Singapore bank DBS is introducing the ability for small businesses and larger corporates to track their cross-border payments in real time. Corporate cross-border payment volumes have increased by 25 percent in the last 12 months,” said Navinder Duggal, DBS head of cash product management.

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Real Time Payments Cross-Border Payments Cross-Border SWIFT 46

PYMNTS

JUNE 15, 2018

A new deal involving SWIFT and 10 Chinese banks represents the latest move in the global competition to facilitate cross-border payments. In a statement , the payments messaging company said the financial institutions (FIs) “have gone live” with the SWIFT Global Payments Innovation (GPI) initiative.

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SWIFT Cross-Border Payments Cross-Border Blockchain 40

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program. “The

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B SWIFT 41

PYMNTS

AUGUST 1, 2019

Financial service providers are operating in a global payments market filled with disruption as they work to offer cross-border corporate payment services that live up to businesses’ standards.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

Payments Source

APRIL 24, 2019

Javier Pérez-Tasso has been named the new CEO of payments messaging standards provider Swift, replacing Gottfried Leibbrandt, who steps down from the post at the end of June.

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SWIFT Message Standards Payment Message Posting 115

PYMNTS

AUGUST 9, 2018

Payments infrastructure news tends to be global in scope, as firms and stakeholders eye efficiency and speed in transacting in new and existing markets far-flung in nature. As noted by PYMNTS in this space, those two schemes facilitate instant domestic payments. In UK, Firms Eye Global Trade (and Payments).

Cross-Border 40

Cross-Border SWIFT Blockchain Cross-Border Payments 40

PYMNTS

SEPTEMBER 19, 2016

16) said several central banks have confirmed the formation of a task force to explore cybersecurity of cross-border payments and banking to protect interbank transactions. With the pressure of cybercrime mounting in the financial services space, several central banks of the globe are joining together to figure out a strategy.

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Cybersecurity Global Payments Central Bank Cross-Border Payments 78

PYMNTS

AUGUST 28, 2019

However, while corporate adoption of real-time B2B payments will not happen overnight, he noted that there are other factors beyond back-office upgrades that support a more painless transition. Speaking The Same (Payments) Language. This is particularly true, he said, when supporting faster payment capabilities across borders.

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ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

JULY 16, 2019

Its work with Mastercard allows Montreal to offer business clients the cross-border payments solution operated by Mastercard that aims to accelerate and boost transparency of cross-border transactions.

Finance 40

Finance Cross-Border Cross-Border Payments Visa 40

PYMNTS

MARCH 21, 2017

For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need.

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ISO 20022 ISOs B2B Message Standards 77

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

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Instant Payments ISO 20022 SWIFT ISOs 50

PYMNTS

APRIL 19, 2017

The largest retail bank in Italy has made its first major step onto the stage of real-time cross-border payments. Intesa Sanpaolo announced Tuesday (April 18) that it has successfully completed its first testing activities with EBA Clearing, using technology by Dovetail for pan-European real-time payments.

Real Time Payments 40

Real Time Payments ISO 20022 Cross-Border Payments Cross-Border 40

Payments Source

JUNE 3, 2019

Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.

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SWIFT Message Standards Gateways Payment Message 69

PYMNTS

OCTOBER 3, 2019

This week, according to a release , BitPay , a blockchain payments provider, said it is linking with Ripple ’s developer initiative, Xpring, in a bid to enable merchants to accept XRP for payments through BitPay’s merchant processing and cross-border payments platform.

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API Finance SWIFT Cross-Border Payments 76

PYMNTS

DECEMBER 13, 2018

Separately, SWIFT said this past week that it has launched a pilot program that focuses on an integrated gpi payments service that quickly identifies and eliminates payment message errors. The broader initiative will use AI (among other technologies) to boost predictability of international payments.

Payment APIs and Integration 53

Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53

Payments Source

APRIL 4, 2019

Payments messaging standards provider Swift has established a new group to help it promote and assure smooth migration of the cross-border ISO 20022 standard.

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ISO 20022 ISOs SWIFT Cross-Border 62

PYMNTS

JUNE 22, 2016

Last January, the bank was part of a group of financial institutions that signed onto SWIFT’s global payments innovation initiative , an effort to streamline cross-border payments via the SWIFT payments messaging network.

Cross-Border Payments 40

Cross-Border Payments Cross-Border P2P SWIFT 40

Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

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SWIFT Payment Message Payments Global Payments 61

PYMNTS

MARCH 28, 2016

China has received some criticism and skepticism over its cross-border payments initiative, spearheaded as CIPS — the Cross-Border Inter-Bank Payments System. Analysts point out that the payments system operates just 11 hours a day and only out of Shanghai.

SWIFT 40

SWIFT Cross-Border Cross-Border Payments Payments 40

PYMNTS

SEPTEMBER 22, 2017

Months prior, the bank also said it joined SWIFT’s global payments innovation initiative, an effort that focuses on innovation in the cross-border payments space using the SWIFT payments messaging network with a focus on faster payments and data collection.

Cross-Border Payments 40

Cross-Border Payments Cross-Border Payment Message SWIFT 40

PYMNTS

JANUARY 24, 2019

Payments messaging company SWIFT is expanding its gpi for Corporates (g4C) initiative, adding treasury management technology company BELLIN to its roster of early adopters of the tool. In a press release issued Wednesday (Jan. In a press release issued Wednesday (Jan.

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SWIFT Treasury Management Payment Message Cross-Border 57

PYMNTS

DECEMBER 17, 2019

Citi noted that traditional methods of cross-border accounts receivable are inefficient, involving multiple collections service providers with silos between invoicing, collections and reconciliation.

Central Bank 52

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

PYMNTS

MAY 29, 2019

Meanwhile, the Reserve Bank of Australia and the Australian Payments Council are considering the migration of payment services to ISO 20022, which could bring them more in line with other countries’ payment messaging strategies. Around the Faster Payments World.

ISO 20022 55

ISO 20022 Liquidity Management Real Time Payments Faster Payments 55

Payments Source

JUNE 15, 2017

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

Instant Payments 60

Instant Payments SWIFT Payment Message Faster Payments 60

PYMNTS

SEPTEMBER 27, 2019

The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1 Criticism of the world’s correspondent banking network continues to mount — and at the same time, the number of correspondent banking relationships is on the decline. Others are less aware of this.”.

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Correspondent Bank Correspondent Cross-Border ISO 20022 55