Japanese banks pilot stablecoin-based cross-border payments
Finextra
SEPTEMBER 9, 2024
Japanese banks MUFG, SMBC and Mizuho are participating in a pilot using stablecoins and the Swift network for cross-border payments.
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Cross-border payment plays rev up
Payments Dive
OCTOBER 10, 2022
The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.
Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud
Fintech News
JUNE 2, 2024
Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs.
Swift Streamlines Cross-Border Payments for Corporate Clients with ISO 20022
Fintech News
MAY 21, 2024
Swift has announced a major upgrade aimed at improving the cross-border payment experience for corporate customers. The financial messaging network will extend ISO 20022 across the entire payment chain and provide banks with ready-to-use tracking services.
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Swift makes progress on some G20 cross-border payments goals
Payments Dive
AUGUST 24, 2023
The international cooperative reports improvements in meeting some G20 cross-border payments goals, but says the industry is falling short on others.
RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT
Fintech News
DECEMBER 10, 2023
The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.
Oracle, SWIFT Add Fast Cross-Border Payments For SMBs
PYMNTS
OCTOBER 7, 2020
Oracle Banking Payments announced Wednesday (Oct. 7) that it is supporting SWIFT ’s latest service to speed effortless global cross-border payments for small- and medium-sized business (SMBs) and consumer markets. “We Oracle and SWIFT share a history of collaboration. The subsidiary of Oracle Corp.
Swift and Global Banks Launch AI Pilots to Tackle Cross-Border Payments Fraud
Fintech Finance
MAY 30, 2024
Swift has today announced two AI-based experiments in collaboration with its member banks, to explore how the technology could assist in combatting cross-border payments fraud and save the industry billions in fraud-related costs. That’s an incredibly exciting prospect, but one that will require strong collaboration.
Swift and Global Banks launch AI pilots to tackle Cross-Border Payment Fraud
Finextra
JUNE 3, 2024
Swift and Global Banks Team Up to Combat Cross-Border Payment Fraud with AI Swift, the global financ.
Veritran and Swift Come Together to ‘Overcome Increasing Fragmentation’ of Cross-Border Payments
The Fintech Times
APRIL 27, 2024
Global tech firm Veritran has partnered with Swift , the world’s leading provider of financial messaging services, to enable financial institutions to offer an enhanced, streamlined and more transparent cross-border payment experience to their customers.
Veritran and Swift Connect to Enhance User Experience and Increase Transparency in Cross-Border Payments
Fintech Finance
APRIL 30, 2024
Veritran and Swift announce their collaboration that will enable financial institutions to offer an enhanced and streamlined cross-border payments experience to their customers. It’s vital that industry players work together in this way to overcome increasing fragmentation in the cross-border payments landscape.”
How Will the Cross-Border Payments Space Evolve in 2024? With Swift, OpenPayd, Chargebee and More
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. .”
U.S. Faster Payments Council Explores the Practicalities of Cross-Border Payments in a Faster Payments World
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.
Consumers, SMBs prize security in cross-border payments: survey
Payments Dive
JULY 14, 2023
Trust and transparency of fees were other key factors for consumers and businesses choosing a cross-border payment provider, a Swift survey revealed.
EvonSys Set to Unveil Payments Platform to Transform the Cross-Border Payments Experience at Pega World 2024
Fintech Finance
JUNE 7, 2024
This innovative platform is set to transform the landscape of cross-border payments, delivering new standards in traceability, transparency, and efficiency. Furthermore, once the transaction is sent, the payment can be tracked on its journey through to final credit to the beneficiary.
Cross-Border Real-Time Payments Make Tangible Progress as Over 50% Consumers Use Them, Says GlobalData
Fintech Finance
JULY 12, 2024
Cross-border payments are becoming increasingly important to international economies. The G20 roadmap for enhanced cross-border payments aims to improve the speed, access, transparency, and cost of international payments by 2030.
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SWIFT Launches Service For Low-Value Cross-Border Payments
PYMNTS
OCTOBER 1, 2020
SWIFT , a global provider of secure financial messaging, announced a new service Thursday (Oct. 1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. SWIFT said this latest improvement is another building block for its new strategy.
Cross-Border Payments: Challenges and Solutions
Nanonets
SEPTEMBER 28, 2023
= Cross-border payments have become increasingly popular as businesses and individuals alike seek to capitalize on opportunities in foreign markets. Yet, these payments can be fraught with challenges, from foreign exchange risks to compliance with local regulations. What Are Cross-Border Payments?
Swift Go settles low-value cross-border payments in under three minutes
The Paypers
MARCH 17, 2023
Swift Go has been launched in 2021 as a solution for completing low-value cross-border payments, and there are over 600 banks that support it.
Bank Of America Expands SWIFT gpi, Intros CashPro Cross-Border Payment Tracker
PYMNTS
DECEMBER 10, 2020
Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution. and Ireland at SWIFT. . 10) press release.
EBA CLEARING, TCH, SWIFT to test Immediate Cross-Border Payments (IXB)
The Paypers
OCTOBER 7, 2022
EBA CLEARING , The Clearing House (TCH) , and SWIFT have announced that they are to deliver the Immediate Cross-Border Payments (IXB) pilot service.
SWIFT launches ISO 20022 translation services for cross-border payments
The Paypers
DECEMBER 10, 2021
Global provider of secure financial messaging services SWIFT has announced the translation availability for its ISO 20022 customer testing environment for cross-border payments.
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UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks
Fintech Finance
APRIL 24, 2024
The replacement RTGS system, slated for readiness in August 2024, makes support for ISO 20022 a prerequisite for all international payments from the SWIFT deadline. The shift in cross border payments is the first step in what will become a broader adoption of the ISO 20022 standard in the payments environment as a whole.
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Swift Invites Fintech Pioneers to Join AI-Based Cross-Border Innovation Challenge
Fintech News
DECEMBER 11, 2023
Swift has announced the launch of its first-ever “The Innovation Challenges” that invites participants to create AI-based solutions aimed at improving the efficiency and security of cross-border transactions. They will be granted access to the Swift Challenge sandbox environment.
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Swift to pilot AI in fight against fraud
Finextra
MAY 30, 2024
Banking co-operative Swift is working with global banks on AI pilots to tackle cross-border payments fraud.
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Cross-border payments fintech Neo hits profitability after year of rapid growth
Fintech Finance
JANUARY 17, 2024
Neo, the cross-border payments and FX fintech, has today announced that the firm is now profitable as an increasing number of SMEs explore alternatives to banks for managing their international business needs. This is a very positive message for our shareholders, clients, supervisors and banking partners.
Deep Dive: Accelerating Cross-Border Payments With Cloud Technology
PYMNTS
OCTOBER 19, 2020
These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments.
TerraPay Enables Financial Institutions to Send International Account-to-Wallet Payments Using Swift
Fintech Finance
JULY 23, 2024
billion mobile wallets around the world using their existing Swift connectivity, enhancing the cross-border payments experience for businesses and consumers. Swift connects more than 11,500 financial institutions in over 200+ countries. We estimate that we are reaching 600m unbanked consumers.”
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Simplifying Global Money Movement with Visa Cross-Border Solutions
Fintech News
FEBRUARY 19, 2024
In a recent interview, Rohit Narang, Vice President for the Asia-Pacific region at Visa Cross-Border Solutions, powered by Currencycloud, shared insights into the acquisition of Currencycloud by Visa, shedding light on the evolution of their collaboration and the impact it has had on global money movement.
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SWIFT Successfully Tests Instant Cross-Border Payments
PYMNTS
OCTOBER 21, 2018
SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. In effect, this is already a live real-time cross-border payment, SWIFT said in the press release.
Financial Institutions Can Now Send Swift Payments Directly to E-Wallets via TerraPay
Fintech News
JULY 23, 2024
Payments infrastructure company TerraPay has announced that financial institutions can now send money directly to over 2.1 billion mobile wallets worldwide using their existing Swift connectivity. This development aims to enhance the cross-border payments experience for businesses and consumers.
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Six Spanish Banks Join SWIFT gpi For Cross-Border Payments
PYMNTS
MARCH 21, 2019
SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. SWIFT gpi enables banks to conduct end-to-end tracking of the cross-border payment.
Naval Group uses Swift's GPI for cross-border payments via Kyriba
Payments Source
JUNE 28, 2019
Naval Group, an international technology company specializing in naval defense systems, is among the first to complete a cross-border payment through Swift's global payments innovation early adopter program.
SWIFT To Create New Cross-Border Real-Time Rails
PYMNTS
SEPTEMBER 17, 2020
SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. 16) that its cross-border platform will be retooled to enable financial institutions to deliver instant transactions. SWIFT said the planned platform will leverage its reach across more than 11,000 institutions in 200 countries.
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SWIFT launches SWIFT Go to boost cross-border payments
The Paypers
JULY 27, 2021
Belgium-based SWIFT has announced the launch of SWIFT Go, a new service that enables small businesses and consumers to send cross-border payments directly from their bank accounts.
Pelican, SWIFT partner to low value cross-border payments service
The Paypers
FEBRUARY 11, 2021
Pelican has announced its support for SWIFT as it develops a new service for low value cross-border payments.
Why Blockchain Holds Promise For Cross-Border Payments
PYMNTS
JULY 1, 2019
The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. The bank recently announced it had been testing moving international funds using Ripple.
The Treasurers’ Guide To Simplifying Cross-Border Payments
PYMNTS
SEPTEMBER 9, 2019
Each country has its own rules and regulations dictating how businesses can make and receive payments, as well as its own, unique financial infrastructure. Moving funds across borders means moving them in and out of these myriad systems. The only problem is, no one of these 57 systems is ubiquitous enough to be universally applicable.
Championing Swift Connectivity for Private Banks and Asset Managers in APAC
Fintech News
AUGUST 8, 2024
In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. March 2023 marked the start of the migration with a coexistence period with MT messages.
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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. How Cross-Border Payments Are Made. So, what’s the problem? What’s Changing?
ACI Worldwide adds Swift Go to cross-border payment offering
The Paypers
MAY 22, 2023
ACI Worldwide has extended its partnership with Swift with the addition of Swift Go to its offering to provide banks with new cross-border, real-time payment services.
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Cross-Border Payment Efforts Look To The Blockchain And Beyond
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. These shortcomings make the cross-border payment industry ripe for disruption and innovation.
Ripple, SWIFT Vie For Top Cross-Border Payments Spot
PYMNTS
JUNE 7, 2018
Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership. The company also launched a partnership earlier this year with Spain’s Banco Santander to develop a cross-border payments service based on XCurrent.
Cross-Border Payment Efforts Grab Funding
PYMNTS
FEBRUARY 14, 2019
The movement toward cross-border payments — done digitally, at lower cost and completed faster — is an inexorable one. Headlines in recent weeks have centered on the efforts by Ripple and messaging service SWIFT to improve cross-border money transfer activities. dollars to Philippine pesos.
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