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.

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Cross-Border Payments Cross-Border SWIFT Fed 117

Fintech Finance

FEBRUARY 22, 2024

Numeral, the payment technology provider, today announces the support of Swift payments , enabling companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries, in addition to local European SEPA as well as UK Bacs, FPS, and CHAPS payments, from a single platform. “At

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SWIFT Technology Cross-Border Payments Correspondent Bank 52

Fintech Finance

OCTOBER 21, 2024

Over the past year Wise Platform , Wise’s global payments infrastructure for banks, financial institutions and larger enterprises, has further enhanced its product suite for partners and significantly expanded its global regulatory footprint.

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Cross-Border Global Payments Cross-Border Payments Multi-Currency 98

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.

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Cross-Border Payments Cross-Border SWIFT ISO 20022 145

Fintech News

JUNE 4, 2024

International Payment Identity (iPiD), a Singapore-based fintech that recently joined Visa’s 2024 Accelerator Programme , has raised US$5.3 Founded in 2021 by former Swift executives, iPiD offers advanced payee verification and identification solutions aimed at enhancing global payment security.

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SWIFT Payee FinTech Verification 101

Fintech News

FEBRUARY 5, 2024

Airwallex, a global payments and financial platform, has formed a multi-year collaboration with the McLaren Formula 1 team. The collaboration will see McLaren utilising Airwallex’s services to improve its supply chain payments across the Formula 1 Grands Prix circuit.

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Global Payments Multi-Currency Cross-Border Treasury Management 101

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.

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Cross-Border Payments Cross-Border SWIFT AI 64

The Fintech Times

OCTOBER 31, 2024

It says these products will help organisations, including multinational corporations, financial institutions and fintechs, defend their businesses and protect customers from increasingly sophisticated fraud techniques, while streamlining payment and identity verification workflows.

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Mitigation Risk Global Payments Deepfake 58

Fintech Finance

NOVEMBER 19, 2024

Payhawk , the global spend management solution, today announced it has selected J.P. Morgan Payments , a global payments leader, to enhance its global payment services for enterprise customers in the UK. Morgan Payments. Payhawk will continue to work with J.P. The post Payhawk and J.P.

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Payments Source

DECEMBER 2, 2020

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

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Cross-Border Payments SWIFT Cross-Border Message Standards 116

Fintech Finance

MAY 17, 2024

PayDo , a leading Electronic Money Institution, proudly announces the expansion of its SWIFT service capabilities to include 11 new currencies. This strategic enhancement enables PayDo to offer more versatile and inclusive financial services across global markets.

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The Fintech Times

AUGUST 8, 2024

Australian Payments Plus (AP+) and the Australian Banking Association (ABA) have completed the design of the new Confirmation of Payee (CoP) service which will enable people paying to an account with a name, BSB and Account number to confirm the account name of the payee before the payment is made.

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The Fintech Times

OCTOBER 17, 2024

Swift , the secure financial messaging service provider, is rolling out new AI-enhanced fraud detection to help the global payments industry improve its defence as bad actors become increasingly sophisticated.

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Fraud Detection SWIFT AI Financial Crimes 52

PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). In this case SWIFT it may not be necessary, because it will be a different kind of technological interaction,” Skorobogatova said during a virtual meeting, per RT.com.

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Central Bank SWIFT Digital Currency CBDC 142

Fintech Finance

OCTOBER 17, 2024

(NYSE:BR), a global Fintech leader, today announced the launch of its highly resilient and scalable managed service for connectivity, message processing and workflow management for instant payments. These regulations are expected to accelerate the adoption of instant payments across Europe, with key compliance deadlines set for 2025.

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Fintech News

OCTOBER 21, 2024

Global payments company Thunes has launched a new service that enables banks to send payments directly to mobile wallets worldwide. This eliminates the need for separate technical integration and allows for faster, more transparent cross-border payments.

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Payments Source

FEBRUARY 25, 2021

The payments division of Western Union has integrated with the Swift Global Payment Initiative for faster transfers, and has added international currency options.

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Payments Source

FEBRUARY 11, 2021

Pelican, a provider of payments and artificial intelligence technology, is supporting Swift's development of a new service for low-cost cross border payments across its Global Payments Initiative and high-speed rails.

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SWIFT Cross-Border Payments Cross-Border Payment Initiation 113

PYMNTS

DECEMBER 2, 2020

Belgium-headquartered payments solution provider SWIFT is introducing a new service for real-time cross-border payments and transfers called gpi Instant. He added that SWIFT’s gpi Instant targets four main issues: “speed, security, transparency and compliance.” Global payments routed to the U.K.

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PYMNTS

SEPTEMBER 17, 2020

SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. SWIFT said its platform will improve interactions between financial institutions, optimize speed and provide transparency and predictability from one account to another anywhere.

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Cross-Border SWIFT Cross-Border Payments API 139

PYMNTS

OCTOBER 6, 2016

SWIFT’s year has been filled with controversy, the apex of which occurred when reports surfaced that cyberthieves infiltrated Bangladesh Bank via the SWIFT messaging system in February, resulting in $81 million stolen from the bank’s account at the New York Federal Reserve.

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The Paypers

SEPTEMBER 19, 2023

Revolut has launched RevTags, a global payments solution addressed to businesses with the goal of disrupting SWIFT.

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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. adopting measures such as locking Chinese banks out of SWIFT, Reuters reported. With the economic and political battles between the U.S.

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Payments Source

APRIL 5, 2016

Swift is moving into the testing phase of its global payments initiative, saying 21 banks have started a pilot for clearer communication amongst banks making and accepting cross-border payments.

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Payment Initiation SWIFT Global Payments Cross-Border Payments 62

Fintech News

OCTOBER 28, 2024

Global payments infrastructure provider Nium has launched Nium Verify, a real-time bank account verification service available in 50 markets. This helps to reduce payment failures, operational inefficiencies, and compliance risks in cross-border payments. ” said Alex Johnson, Chief Payments Officer at Nium.

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Payments Source

SEPTEMBER 23, 2019

Two months after a successful test to connect banks using the Global Payments Innovation service to faster payments rails in Singapore, Swift is launching a new service to connect with other domestic real-time payments systems.

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Faster Payments SWIFT Real Time Payments Payments 79

Payments Source

JULY 17, 2019

Swift is building out its Global Payments Innovation (GPI) service to allow corporations to initiate and track payments across all of their banking partners from a single source.

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Fintech Finance

FEBRUARY 5, 2024

Airwallex , a leading global payments and financial platform for modern businesses, today announced a multi-year partnership with the McLaren Formula 1 team , one of the sport’s most iconic brands. Specifically, McLaren will use Airwallex to optimise its supply chain payments for all Grands Prix.

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Multi-Currency Global Payments Treasury Management Cross-Border 59

PYMNTS

MARCH 16, 2020

Cross-border payments via Swift’s ISO 20022 migration, originally set to roll out by November 2021, have now been set back a year and are expected to come by the end of 2022 instead, according to reports. ISO 20022 is set to make changes to the payment landscape as a whole, according to the company.

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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.

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Cross-Border Payments Cross-Border SWIFT Payments 68

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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Payments Source

APRIL 9, 2019

National Australia Bank is utilizing the end-to-end transaction tracking system through Swift's Global Payments Innovation system, making it the first bank in Australia to allow business customers to track international payments through one click on an account platform.

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Finovate

OCTOBER 21, 2024

Mastercard launched Move Commercial Payments , a real-time cross-border payments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. with Lloyds Banking Group and UBS.

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Cross-Border Payments Cross-Border Visa FedNow 59

Payments Source

MAY 21, 2019

Seven European banks are testing Swift's Global Payments Innovation real-time cross-border payments through the continent's Target Instant Payment Settlement process.

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PYMNTS

AUGUST 12, 2020

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. SWIFT gpi’s technology is revolutionary for the payments industry and gives power back to the customer.”

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The Fintech Times

OCTOBER 19, 2024

Broadridge Financial Solutions , the investor communications and technology-driven solution provider, has launched a new managed service for connectivity, message processing and workflow management for instant payments.

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Fintech Finance

MARCH 26, 2024

The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments. More than 750 transactions were carried out over the course of the experiments.

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Cross-Border Use Case SWIFT CBDC 52