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

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

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. API standards accelerate the introduction of new services.

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SWIFT ISO 20022 Authorization API 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.

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SWIFT Message Standards Gateways Payment Message 69

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

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. The tool expanded and began requiring SWIFT customers to include their UETR in all payment instructions, even for institutions not part of gpi.

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SWIFT Treasury Management Payment Message Cross-Border 57

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

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 ISOs 61

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

Fintech News

DECEMBER 10, 2023

Some of the authorities supplying commentary to The Future of Competitive Advantage in Banking & Payments report were from Aite-Noverica, Visa, Swift, Banque Cantonale de Genève, the Payments System Regulator, and HSBC, helping to determine what’s working in current product roadmaps of bank and non-bank FIs from 32 countries globally.

FinTech 119

FinTech Cross-Border Deepfake Cross-Border Payments 119

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.

Global Payments 77

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

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.

ISO 20022 66

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

PYMNTS

AUGUST 19, 2016

As SWIFT continues to promote the adoption of the ISO 20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO 20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.

ISO 20022 40

ISO 20022 ISOs SWIFT Message Standards 40

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

PYMNTS

AUGUST 15, 2019

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Deep Data For Swift, Secure Payments . Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s

ISO 20022 58

ISO 20022 ISOs Interoperability Message Standards 58

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.

ISO 20022 52

ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

AUGUST 13, 2019

The August Faster Payments Tracker details this new development, as well as other major developments hitting the world stage, from SWIFT’s instant cros s-border payments trial to Facebook’s cryptocurrency foray. Around the Faster Payments World. Deep Dive: The Challenges and Benefits of ISO 20022 Migration.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

SEPTEMBER 23, 2019

The industry push for SWIFT’s ISO 20022 adoption continues to encourage financial institutions to adopt the payments messaging standard for more efficient transmission of transaction data, which can have particular impact for high-value cross-border B2B payments.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

SEPTEMBER 7, 2017

This includes the implementation of ISO 20022 messaging standards across organizations like NACHA and SWIFT. Its role in this regard will be to support the industry as it establishes standards for end-to-end electronic B2B invoice, payments and remittance processing. Cross-Border Payments. Collaboration.

Fed 49

Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

JANUARY 17, 2018

16), is with Yes Bank, which will leverage HashCash’s HC NET blockchain network to deploy a corporate payments solution that can facilitate cross-border transactions. The promise of the technology on paper is great, but it is currently missing a key component around standardization.

Blockchain 46

Blockchain ISO 20022 ISOs SWIFT 46

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

JANUARY 26, 2017

Cross-border payments, trade finance, smart contracts — blockchain has the potential to disrupt B2B processes, but FinTech players are only beginning to take these concepts onto a real-world stage. Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too.

Blockchain 57

Blockchain Cross-Border Payments Cross-Border B2B 57

PYMNTS

JULY 9, 2020

SWIFT Certifies Fiorano ISO 20022. The ISO 20022 payments messaging standard is a key focus for payments innovators looking to improve upon legacy payment rails. Steamchain wields blockchain technology to address friction in cross-border payments that result from the traditional interbanking system.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

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.

ISO 20022 77

ISO 20022 Interoperability Instant Payments Cross-Border 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 messaging firm has said that connecting to TIPS is part of broadening access to the upcoming Eurosystem Single Market Infrastructure Gateway.

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Instant Payments ISO 20022 SWIFT ISOs 50

PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. and Canada.

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 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.

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

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. SWIFT has similarly taken to boosting ISO 20022’s adoption within Canada , too.

ISO 20022 40

ISO 20022 ISOs Message Standards Federal Reserve 40