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.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

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?

Cross-Border Payments 76

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

PYMNTS

FEBRUARY 21, 2019

This week, the EU Parliament voted for new rules mandating that banks cut fees on cross-border euro payments for countries within and outside the Eurozone. As reported by parliament, the body voted by 532 in favor and 22 against (with 55 abstentions) to set the new cross-border rules in place by the end of the year.

Cross-Border 76

Cross-Border Cross-Border Payments Real Time Gross Settlement (RTGS) Rules 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. Progress in Tackling Cross-Border Payments Friction.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Finextra

MARCH 5, 2024

Watch this webinar on payment system interoperability; legal, regulatory and supervisory frameworks; and cross border data exchange and message standards.

Cross-Border 52

Cross-Border Cross-Border Payments Message Standards Interoperability 52

Payments Source

MARCH 12, 2019

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

ISO 20022 79

ISO 20022 SWIFT Cross-Border Payments Cross-Border 79

PYMNTS

AUGUST 16, 2019

Corporate leaders want cross-border systems to deliver that same level of responsiveness. The cross-border payment space is ready — and perhaps overdue — for disruption. Cross-border transactions are expected to rise in the coming years despite this trend, reaching an estimated $280 billion by 2024.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

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. ” SWIFT pointed to the potential benefits of the ISO 20022 payments messaging standard for corporate payments in particular.

ISO 20022 76

ISO 20022 ISOs SWIFT Cross-Border 76

Fintech Finance

SEPTEMBER 18, 2024

These reports serve as critical resources for financial institutions seeking to implement ISO 20022, a global standard that is reshaping the landscape of financial messaging. “By embracing this standard, we’re laying the groundwork for a more efficient and interconnected global payments system.” The post U.S.

ISO 20022 96

ISO 20022 ISOs Faster Payments FPC 96

Fintech Finance

JULY 11, 2024

It is based on the ISO 20022 messaging standard which Switzerland has been using for several years. The standard helps facilitate interoperability and cross-border transactions, also giving Swiss banks the opportunity to implement international payment capabilities in the future.

Instant Payments 115

Instant Payments Facilitators ISO 20022 Message Standards 115

Fintech Finance

SEPTEMBER 17, 2024

Kani Payments , the disruptive global data reconciliation and reporting pioneer, today announces it is ready to support the ISO 20022 global messaging standard ahead of the November 2025 implementation date.

ISO 20022 105

ISO 20022 ISOs Reconciliation Message Standards 105

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.

SWIFT 115

SWIFT Message Standards Payment Message Posting 115

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.

ISO 20022 62

ISO 20022 ISOs SWIFT Cross-Border 62

PYMNTS

APRIL 29, 2019

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. Privately-owned companies are also looking to solve the cross-border payments problem.

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Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

MARCH 17, 2020

Drilling down a bit, Caldeira said that the speeds of money transfers themselves are increasing across any number of use cases and verticals, and crossing borders with growing frequency. The Need For Standardization In Cross-Border Payment Processing.

Cross-Border 91

Cross-Border Innovation Payment APIs and Integration Cross-Border Payments 91

Fintech News

DECEMBER 10, 2023

This year’s Singapore Fintech Report 2023 found that there was an enhanced focus on digital money and assets, increased adoption of new technologies, and a surge in real-time cross-border payment systems in the city-state.

FinTech 122

FinTech Cross-Border Cross-Border Payments ISO 20022 122

PYMNTS

MARCH 14, 2019

At the intersection of all these threats is payments, particularly when money is moving cross-border. ” Cross-Border Payments in the Crosshairs. “If you look at cross-border payments, at the highest level they are the settlement engine for a rapidly globalizing economy,” said Kohli.

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Global Payments Cross-Border Payments Cross-Border ISO 20022 77

PYMNTS

NOVEMBER 2, 2020

Interoperability will get a boost with messaging standards such as ISO 20022. Digital currencies, of course, have the potential to impact cross-border transactions. Improving Cross-Border Flows. Depending on the use case and the corporate need, he told Webster, supporting different rails makes sense.

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B2B Cross-Border Digital Currency Multi-Currency 119

ACI Worldwide Blog

MAY 13, 2024

ISO 20022 is a messaging standard used across the financial industry. In the domestic Real-Time Gross Settlement (RTGS)/Wire and cross-border payment spaces, transformation to the most recent ISO 20022 (HVPS+ and CBPR+) messaging standards has been ongoing since 2022.

ISO 20022 52

ISO 20022 Real Time Gross Settlement (RTGS) ISOs Message Standards 52

Fintech News

AUGUST 8, 2024

The Role of ISO 20022 in Seamless Settlement and Post-Trade Operations In 2018, the Swift community decided to adopt ISO 20022 for cross-border payments and reporting (CBPR+). March 2023 marked the start of the migration with a coexistence period with MT messages.

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ISO 20022 APACS SWIFT ISOs 124

PYMNTS

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. Payments, Cross-Border and Over the Phone.

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Cross-Border Payments Cross-Border Risk Same Day ACH 40

PYMNTS

JULY 9, 2020

The ISO 20022 payments messaging standard is a key focus for payments innovators looking to improve upon legacy payment rails. SWIFT is currently in the process of migrating cross-border payments onto the ISO 20022 standard, with a revised expectation to complete that process by the end of 2022.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

SEPTEMBER 5, 2019

In July, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize cross-border transactions.

SWIFT 72

SWIFT ISO 20022 Authorization API 72

The Fintech Times

JULY 15, 2024

” The SIC5 system, developed by the Swiss National Bank and SIX, uses the ISO 20022 messaging standard, enhancing interoperability and cross-border transactions, and paving the way for future international payment capabilities for Swiss banks.

Instant Payments 72

Instant Payments ISO 20022 Fraud Prevention Message Standards 72

PYMNTS

SEPTEMBER 23, 2019

The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service. However, a phased-in process could cause cross-border exchange issues with financial institutions.

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ISO 20022 Federal Reserve ISOs FedWire 76

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. But as the Tracker explores, there are several initiatives in the works to tackle those challenges — including in the corporate sphere.

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Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

MAY 1, 2019

and cross-border payments. ACH, Same Day ACH, Zelle, RCH RTP clearing and settlement, and SWIFT cross-border payments are all supported under the solution. “With the increasing popularity of Software-as-a-Service models in financial services, this is an ideal time for U.S. financial institutions.

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ISO 20022 Same Day ACH Cross-Border Payments Payment APIs and Integration 66

PYMNTS

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. FXPress entered the market with a focus on cross-border payments and foreign exchange services. Beyond Payments Initiation. “But payments is just one side of the equation,” noted Conibear.

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

PYMNTS

MARCH 21, 2017

But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need. Further, not all internal banking and corporate systems can support the XML format that has gained traction in promoting ISO 20022 standardization.

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

Fintech Finance

SEPTEMBER 10, 2024

There is also the global shift to ISO 20022 messaging standards. To access the full extent of these benefits in the payments world, we need to apply AI to a very specific problem: instant and cross-border payments projects. The ones that can adjust to take advantage of this opportunity will be the ones that succeed. “To

Instant Payments 111

Instant Payments AI ISO 20022 Payments 111

PYMNTS

JUNE 16, 2020

The holy grail of payments modernization can be boiled down into to one word: standardization. As the financial services industry seeks to expand the use and value of instant payments linking cross-border transactions with always-on digital commerce, uniting far-flung stakeholders and fostering interoperability is key.

ISO 20022 72

ISO 20022 Cross-Border B2B ISOs 72

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.

SWIFT 69

SWIFT Message Standards Gateways Payment Message 69

Payments Source

SEPTEMBER 23, 2019

The Federal Reserve Banks put the brakes on their planned migration of the ISO 20022 messaging standard, delaying a three-phased migration established in 2017 that targeted November 2020 as the start of that process.

ISO 20022 68

ISO 20022 ISOs Federal Reserve Fed 68

PYMNTS

JANUARY 24, 2019

23), BELLIN revealed it is joining the g4C effort, which enables banks to provide gpi data to their corporate clients, heightening transparency and traceability of corporate cross-border transactions. In a press release issued Wednesday (Jan.

SWIFT 57

SWIFT Treasury Management Payment Message Cross-Border 57

PYMNTS

JANUARY 20, 2021

Justin Cross , WEX's director of business development and partnerships, EMEA and APAC, said in the announcement that the company's corporate payments operation will continue working with brands such as MYOB to help with local business expansion and to “ensure payments are not an afterthought.”. 19) announcement.

ISO 20022 64

ISO 20022 ISOs B2B Cross-Border 64

Payments Source

NOVEMBER 6, 2019

Swift and EBA Clearing have started developing the process by which Europe's large-value payment system will migrate to use of the ISO 20022 messaging standard.

ISO 20022 62

ISO 20022 ISOs SWIFT Message Standards 62

PYMNTS

APRIL 19, 2016

Payments technology developers and regulators are beginning to voice their support for ISO 20022, the payments messaging standard that proponents say can streamline global payments with an easier way to link data to a transaction. Its first guidelines focus on interbank messaging, key in cross-border B2B payments.

ISO 20022 40

ISO 20022 ISOs Message Standards Federal Reserve 40