PYMNTS

JULY 29, 2020

and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong and Macau as well. With the economic and political battles between the U.S.

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ISO 20022 SWIFT Cross-Border ISOs 116

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”

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ISO 20022 ISOs SWIFT Cross-Border 76

PYMNTS

NOVEMBER 27, 2019

According to Tom Halpin, head of payment products at HSBC , faster and real-time payment services don’t only provide the value of speed for corporate clients, especially in the context of cross-border transactions. Progress in Tackling Cross-Border Payments Friction.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

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

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

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.

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Cross-Border Payments Cross-Border SWIFT Payments 68

PYMNTS

AUGUST 15, 2019

The growing traction of faster payments continues, especially across a cross-border backdrop. 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.

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Settlement SWIFT Cross-Border Cross-Border Payments 51

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

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

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.

Real Time Payments 43

Real Time Payments SWIFT Cross-Border Payments Cross-Border 43

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

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. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”.

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Interoperability ISO 20022 Cross-Border ISOs 61

PYMNTS

MARCH 26, 2018

SWIFT’s gpi initiative is broadening payment tracking capabilities, according to a press release from the payments messaging organization. SWIFT rolled out the gpi Tracker solution last year as a solution to help treasurers track payments in real time with a focus on cross-border transactions.

Real Time Payments 43

Real Time Payments SWIFT Cross-Border Payments Cross-Border 43

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.

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SWIFT Cross-Border Payments Blockchain Cross-Border 41

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

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

MAY 2, 2019

With the tool, banks can quickly resolve instances where operational, regulator or compliance information is incorrect or is missing from the payment instructions. SWIFT said the tool complements its gpi pre-validation service that identifies and eliminates errors and omissions in the payment messages before the payment is initiated.

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SWIFT Cross-Border Payments Payment APIs and Integration Cross-Border 76

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

SEPTEMBER 27, 2019

The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1 Further, he said, not only is the correspondent banking network an outdated strategy to move money across borders, but it relies on legacy infrastructure.

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Correspondent Bank Correspondent Cross-Border ISO 20022 55

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.

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Finance Cross-Border Cross-Border Payments Visa 40

PYMNTS

AUGUST 28, 2019

One of the most prominent payment industry trends to support real-time payments adoption is the focus on ISO 20022 payment message standardization, said Cooley. 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

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.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

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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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. China International Payment Service Corp.

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SWIFT Cross-Border Cross-Border Payments Payments 40

PYMNTS

FEBRUARY 7, 2018

6), highlighting both the cost of payments processing and the inefficiencies involved in the process due to a lack of transparency and data in payment messaging, especially for small businesses (SMBs). The companies released their report on Tuesday (Feb.

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ISO 20022 Process Cross-Border Payments Message Standards 49

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.

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

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 40

Cross-Border Cross-Border Payments P2P SWIFT 40

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.

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Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53

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

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

APRIL 9, 2020

Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions.

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Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

JULY 3, 2018

The need for faster payments is transcending borders, with FIs in several major global regions making efforts to expand local access to speedier payments. These innovations not only promise to improve payment speed, but to also accelerate financial access and empowerment in different markets. . s payment systems.

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Faster Payments Cross-Border Zelle Payments 40

PYMNTS

SEPTEMBER 12, 2019

The AFP’s report was released the same week a range of new electronic B2B payment tools were announced, the latest in a deluge of digital payment solutions emerging in recent years. 11), Mastercard announced a collaboration with blockchain company R3 to create a blockchain-based tool for cross-border B2B payments.

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AFP Checks ISO 20022 Cross-Border 51

PYMNTS

AUGUST 15, 2019

SWIFT’s decision to replace its existing cross-border payment messaging service with ISO 20022 represents another significant push in that direction — one that could have ripple effects. Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s

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ISO 20022 ISOs Interoperability Message Standards 58

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