PYMNTS

AUGUST 1, 2019

In the latest Smarter Payments Tracker , PYMNTS takes a deep dive into the challenge of interoperability in achieving better cross-border payments services and experiences. Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its Wednesday (July 31) announcement.

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Interoperability ISO 20022 Cross-Border Correspondent Bank 61

Faster Payments Council

AUGUST 23, 2024

This session will provide a comprehensive analysis of key industry metrics, highlight opportunities for innovation, and offer strategic guidance to navigate the evolving landscape of payments. It's time to confront the harsh reality—innovation alone doesn't drive broad adoption. Speakers: Laura Sullivan, Form3; Kenneth T.P.

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FPC ISO 20022 Federal Reserve Instant Payments 167

PYMNTS

NOVEMBER 27, 2019

The ISO 20022 payments messaging standard — and faster payment networks’ adoption of it — has proven to be a significant value-add to financial service providers’ faster payments offerings. A lack of interoperability between local payment networks is among the largest of those hurdles, said Halpin.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Faster Payments Council

MARCH 15, 2023

Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. Learn how to position ISO 20022 as a part of an organization's broader payments modernization strategy.

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FPC ISO 20022 Cross-Border Payments Cross-Border 88

The Fintech Times

JULY 9, 2024

The Open Identity Exchange and the Canadian non-profit Digital ID Authentication Council of Canada (DIACC) have committed to working together to advance global digital interoperability. iDenfy, a Lithuanian regtech company, has announced a strategic partnership with SIMPal, a telecommunication service provider.

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ISO 20022 FinTech ISOs Payroll 59

PYMNTS

OCTOBER 10, 2016

ISO 20022, which is designed to set the tone for global financial industry messages, provides a standardized approach to building messaging standards across financial services. “They are trying to maintain interoperability from a global perspective and also trying to achieve that standardization,” he explained.

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Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

SEPTEMBER 11, 2019

In June, the Chinese digital payment player Alipay and a handful of European mobile wallets announced a partnership to promote QR code payment interoperability. One-third of companies surveyed in the Real-Time Payments Innovation Playbook planned to implement them within the next three years. How Cross-Border Payments Are Made.

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

Fintech News

AUGUST 23, 2024

These events are serving as platforms for networking, knowledge exchange, and the showcase of innovative solutions. The conference will also host an expansive expo showcasing fintech innovations, investment pitches, workshops, hackathons, and the launch of 20 thought leadership reports.

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APACS FinTech Participant ISO 20022 114

PYMNTS

JUNE 16, 2020

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. The containers are uniform and standardized even though they hold a broad range of items.

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ISO 20022 Cross-Border B2B ISOs 72

PYMNTS

FEBRUARY 5, 2020

The innovative hub addresses the industry’s plea for an easy, automated way to exchange transaction information. Aside from using the blockchain, it will use Afinis interoperable and standardized APIs, as well as ISO 20022. The present system uses laborious bilateral agreements, which limits wide-spread collaboration.

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NACHA Phixius B2B Same Day ACH 52

PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. Looking Toward Interoperability And Scale . Interoperability is a core component” of FedNow, said Montgomery.

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Instant Payments FedNow Fed Interoperability 97

PYMNTS

OCTOBER 15, 2020

The real innovation cycle is where you layer on the program ability of money as a data type on the internet,” noted Allaire. Interoperability In Focus . Interoperability, said the panel, can improve B2B payments, creating new payments structures that contain message payloads that (can eventually) enable straight-through processing.

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Real Time Payments NACHA SWIFT TCH 125

PYMNTS

AUGUST 31, 2017

With initiatives like the Faster Payments Task Force and the Secure Payments Task Force, the Fed is pushing for innovation and progress in the nation’s payments infrastructure and market. Sapenaro said B2B payments, too, are finally experiencing innovation and progress, but it still has a long way to go.

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Federal Reserve Innovation Secure Payments Task Force Faster Payments 64

PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. But she added that such innovation has raised “fundamental questions” about legal and regulatory safeguards.

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Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

NOVEMBER 18, 2020

For the banks themselves, noted Volante’s Scaffidi, there is the opportunity to offer a range of value-added services to their clients – but he added that 40-year-old legacy systems serve as hindrances to moving quickly toward innovation. The “now,” according to the panelists, demands interoperability between rails, which is an eventuality.

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Real Time Payments ISO 20022 Reconciliation Payments 98

Seon

JULY 27, 2023

In any event, the message follows the ISO 20022 standard, which according to the Federal Reserve will bring “interoperability, end-to-end efficiency of payments, and future innovation” to the FedNow Service. This payment message either goes directly to the FedNow Service or via a service provider.

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FedNow Federal Reserve ISO 20022 Fraud Detection 40

PYMNTS

MARCH 14, 2019

And there, Kohli said, innovation is helping corporates adapt to and manage these global risks. The rise of third-party payment providers, and the opportunity for traditional institutions to collaborate with them, has also opened doors for cross-border payments innovation. Treasurers’ Biggest Worries.

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

PYMNTS

APRIL 20, 2016

SWIFT maintains in the paper that more research is needed in order to make determinations over whether DLT systems would be fully interoperable with existing, legacy infrastructure; and whether DLTs work well across multiple counterparties.

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SWIFT ISO 20022 Regulatory Compliance IRS 40

PYMNTS

NOVEMBER 3, 2020

But to get a sense of the overarching theme governing those who seek to change the way it has always been done: As noted in the keynote that kicked off the confab, taking a page from the late Harvard Professor Clay Christensen, business innovation must consider the “jobs to be done” theory of business innovation.

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Checks B2B Payments Payment APIs and Integration 82

PYMNTS

AUGUST 7, 2019

“We obviously expect that the collective set of technology and the services that we’re buying can be further exported more widely across Europe and into other markets,” he said, with the goal to create an interoperable market of payments schemes that can facilitate account to account payments, in real time, across countries.

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Visa Acquirers Real Time Payments ISO 20022 77

PYMNTS

DECEMBER 12, 2019

An embrace of global standards like the ISO 20022 messaging standard will be key, said Killam. indeed, around the world — striking the balance of real-time payments adoption means technological innovation and industry participant cooperation will ensure real-time payments are ready to react and anticipate those changes.

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RTP Real Time Payments Faster Payments Cross-Border 72

PYMNTS

DECEMBER 3, 2018

Data formats rely on ISO 20022, as the EPC has stated in the past. The overarching theme, though, is one of interoperability. As more countries across the SEPA geographic realm adopt SCT Inst, other regions around the globe may find such payments innovation to be instructive. The Spark, Then Ignition.

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Instant Payments ISO 20022 Online and Mobile Banking Cross-Border 62

PYMNTS

APRIL 14, 2017

The big question: Can the existing payment rails support the innovation that is needed? Said NACHA’s Estep, “the answer depends on what type of innovation you are talking about, and then what type of a payments system you are talking about.” Against that backdrop, “innovation means many different things to different players.”.

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ACH Network ACH Payments ISO 20022 42

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.

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ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

NOVEMBER 15, 2017

More than two years after the Fed’s Faster Payments Task Force first took shape in 2015, the push toward innovation and improved infrastructure (and why shouldn’t the two be intertwined?) The goal is an ambitious one, to be sure, one that needs collaboration between sometime competitors in the banking and FinTech arenas.

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Fed Faster Payments Federal Reserve ISO 20022 44

PYMNTS

SEPTEMBER 7, 2017

Industry collaboration will be critical to achieving goals of accelerated payments, the Fed said, with top challenges identified as “interoperability, ubiquity and accessibility” of faster payments capabilities. This includes the implementation of ISO 20022 messaging standards across organizations like NACHA and SWIFT.

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Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

AUGUST 16, 2019

The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. Last month, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

Segpay

JUNE 13, 2024

Interoperability: Designed to work alongside existing payment systems. The EU’s Instant Payment Revolution The European Union (EU) has promoted financial innovation for decades, setting benchmarks that have inspired other regions to improve their financial infrastructures. Accessibility: Available to all banks and credit unions.

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FedNow Federal Reserve Real Time Payments Instant Payments 52

The Fintech Times

JULY 20, 2024

This involves re-engineering the architecture towards modular, microservices-based frameworks, enhancing interoperability, and investing in robust cybersecurity. This has included using new technology and messaging standards (ISO 20022) to improve performance, data quality and operational efficiency.

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Payments Mitigation Regulations ISO 20022 75

PYMNTS

NOVEMBER 2, 2020

Tech-driven Interoperability and collaboration will finally bring trillions of dollars into the digital age, Kevin Phalen , head of global business solutions at Visa , told Karen Webster in a recent interview. Interoperability will get a boost with messaging standards such as ISO 20022.

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B2B Cross-Border Digital Currency Multi-Currency 119

PYMNTS

MAY 30, 2018

New technology and innovations are pushing the payments industry forward, making transactions speedier and safer than they were before. Inside the new Smarter Payments Tracker , PYMNTS explores the latest interoperability developments that are helping banks and FinTechs open up new lines of communication and speak a common language.

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Payment APIs and Integration ISO 20022 Interoperability NACHA 52

PYMNTS

MAY 12, 2020

In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. The companies said their solution aims to enhance the visibility and efficiency of B2B transactions, which have been largely left behind despite accelerating FinTech and payments innovation.

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B2B Same Day ACH FedNow Federal Reserve 52

Finovate

JULY 12, 2024

“A robust payment infrastructure is a catalyst for innovation and scalable growth,” Group COO of Affin Bank Berhad Encik Risham Akashah Bin Kamaruzaman said. The technology will enable Affin Bank to process 20%+ more transactions, and enable interoperability among PayNet, RENTAS, and SWIFT using ISO 20022 standards.

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ISO 20022 PCI DSS Payments Online and Mobile Banking 45