Fintech Finance

JULY 11, 2024

Finastra , a global provider of financial software applications and marketplaces, today announced the completion of a Swiss Interbank Clearing (SIC) instant payments readiness project. Using Finastra’s cloud-based Service Bureau offering, Swiss banks can seamlessly transition to facilitating instant interbank payments.

Instant Payments 115

Instant Payments Facilitators ISO 20022 Message Standards 115

PYMNTS

SEPTEMBER 29, 2020

In this week’s look at payment rails innovation, the European Union begins paving the way for greater crypto adoption, while Mastercard expands its own crypto accelerator initiative. Separately, research finds B2B payments as the key driver behind surging instant payments volume in the years ahead.

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Instant Payments B2B Innovation ISO 20022 129

Fintech Finance

JULY 9, 2024

Volante Technologies , the global leader in payments as a service, today announced that Azqore , a business and technology partner for wealth managers, has selected Volante’s Payments as a Service (PaaS) to deliver SEPA instant payments and ISO 20022 messaging services to its customer base.

ISO 20022 97

ISO 20022 ISOs Technology Instant Payments 97

Fintech Finance

SEPTEMBER 24, 2024

Fime has been selected by BancNet , the Philippine-based domestic scheme, to support the onboarding, testing and certification process for its instant payments service, InstaPay. This will allow institutions to launch their instant payments services to their customers more quickly.

Instant Payments 95

Instant Payments ISO 20022 ISOs Financial Inclusion 95

Finextra

SEPTEMBER 18, 2024

Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today announced the release of two complementary reports from its Cross-Border Payments Work Group, sponsored by Mastercard: How to ISO 20022 and Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant (..)

ISO 20022 64

ISO 20022 ISOs Faster Payments FPC 64

Fintech Finance

JULY 1, 2024

The Bank for International Settlements (BIS) and partners today announced that they have completed the comprehensive blueprint for phase three of Project Nexus, which will allow ready participants to work towards the next stage of seamlessly connecting their instant payment systems.

Instant Payments 98

Instant Payments Cross-Border Payments ISO 20022 Cross-Border 98

The Fintech Times

FEBRUARY 5, 2024

Within the research , Juniper Research found instant payments will revolutionise B2B payments by enabling cheaper and more secure cross-border trade. They will reach 42 per cent of all cross-border payments by 2028, at $16trillion; up from just 17 per cent in 2024, at $5trillion.

Cross-Border Payments 119

Cross-Border Payments Cross-Border ISO 20022 Research 119

Fintech Finance

AUGUST 27, 2024

Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services. billion real-time payments were processed in Mexico in 2023, making it the 10th largest real-time payments market in the world.

Instant Payments 97

Instant Payments Real Time Payments ISO 20022 Financial Inclusion 97

Fintech Finance

SEPTEMBER 10, 2024

New research from RedCompass Labs , a world leader in payments modernization, has revealed that over half (54%) of banks are planning to leverage generative artificial intelligence (AI) for the shift to instant payments and other payments modernization projects, while four in ten (42%) are actively considering the possibility.

Instant Payments 111

Instant Payments AI ISO 20022 Payments 111

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. Mixed Demand and ISO 20022. Current Efforts . and Australia’s NPP.

ISO 20022 77

ISO 20022 Interoperability Instant Payments Cross-Border 77

Fintech News

OCTOBER 23, 2024

The BIS Innovation Hub (BISIH) Singapore Centre has announced the next phase of Project Nexus , aimed at making instant cross-border payments a reality. Central banks and instant payment system (IPS) operators from India, Malaysia, the Philippines, Singapore, and Thailand will collaborate with BISIH to move towards live implementation.

Central Bank 126

Central Bank ISO 20022 Cross-Border Payments Cross-Border 126

Faster Payments Council

AUGUST 23, 2024

However, a recent survey by FPC and Finzly reveals a stark reality: two-thirds of financial institutions lack the capability to 'send' instant payments. However, a recent survey by FPC and Finzly reveals a stark reality: two-thirds of financial institutions lack the capability to 'send' instant payments.

FPC 129

FPC ISO 20022 Federal Reserve Instant Payments 129

The Fintech Times

JULY 15, 2024

By August 2023, the 50 largest banks in S witzerland must be capable of processing instant interbank payments, with all participants in the Swiss customer payment system expected to achieve this capability by the end of 2026.

Instant Payments 72

Instant Payments ISO 20022 Fraud Prevention Message Standards 72

PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. Interoperability is a core component” of FedNow, said Montgomery.

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Instant Payments FedNow Fed Interoperability 97

Fintech News

NOVEMBER 5, 2024

Project Nexus is designed to enhance cross-border payment efficiency by linking various domestic instant payment systems on a global scale. The regulator will explore potential connections between its TARGET Instant Payment Settlement system and other fast payment networks.

ISO 20022 110

ISO 20022 Central Bank Cross-Border Payments Settlement 110

The Paypers

JANUARY 11, 2021

Instant payments and ISO 20022 have the potential to become the messaging standards to be used for all financial communications, according to Payment Components.

ISO 20022 40

ISO 20022 ISOs Instant Payments Message Standards 40

Neopay

NOVEMBER 26, 2024

The clock is ticking for European banks as the EU’s mandatory instant payment regulations approach, but a recent survey by transaction data management specialist Intix reveals a worrying lack of readiness. By October 2025, institutions must also handle outgoing instant payments.

ISO 20022 52

ISO 20022 Instant Payments Regulations ISOs 52

The Fintech Times

OCTOBER 24, 2024

As much as two in three European banks may not be prepared to meet the EU’s instant payment deadline, a new survey by the transaction data management firm, Intix , has revealed. The post 25% of European Banks Aren’t Ready to Comply With EU Instant Payment Deadlines, Intix Reveals appeared first on The Fintech Times.

Instant Payments 59

Instant Payments ISO 20022 Fraud Detection ISOs 59

PYMNTS

NOVEMBER 12, 2020

“Providing Canadians and Canadian businesses with access to faster, data-rich payment options will enable innovation, support the long-term growth of the economy, and strengthen our global competitiveness.”. The system will also act as a “platform for innovation” to advance new solutions and services.

ISO 20022 138

ISO 20022 Real Time Payments Settlement ISOs 138

The Payments Association

OCTOBER 25, 2023

This report is based on a peer-based, real-time comparison benchmarking survey on - real-time/instant payments, cross-border payments, ISO 20022 messaging, transitioning from on-premise to SaaS, compliance and regulation, cash positioning and fraud monitoring, and pre-validation (Confirmation of Payee).

ISO 20022 88

ISO 20022 Cross-Border Payments Cross-Border Payee 88

Finextra

JULY 9, 2024

Volante Technologies, the global leader in payments as a service, today announced that Azqore, a business and technology partner for wealth managers, has selected Volante’s Payments as a Service (PaaS) to deliver SEPA instant payments and ISO 20022 messaging services to its customer base.

ISO 20022 69

ISO 20022 Technology ISOs Instant Payments 69

Fintech Finance

NOVEMBER 12, 2024

RedCompass Labs , the global experts in payments modernization, has launched the world’s first multi-agent AI solution engineered specifically to accelerate payments transformation: AnalystAccelerator.ai. In trials with a tier one bank struggling with the new SEPA Instant Payments Regulations, AnalystAccelerator.ai

ISO 20022 98

ISO 20022 AI FedNow RTP 98

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 service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

Instant Payments 50

Instant Payments ISO 20022 SWIFT ISOs 50

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. Lael Brainard said the coronavirus crisis has heightened the need for instant payments.

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Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

JULY 9, 2020

In a PYMNTS interview , Tim Coats, Oxbury co-founder, chief customer and regulatory officer, said Faster Payments will become a key rail for the farming and agricultural space to accelerate cash flow through its supply chain. SWIFT Certifies Fiorano ISO 20022. Steamchain Lands Investment For Blockchain Tech.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

Fintech News

JULY 3, 2024

The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instant payment systems (IPS).

Cross-Border Payments 116

Cross-Border Payments Cross-Border Instant Payments Central Bank 116

Fintech Finance

DECEMBER 11, 2024

Gathered from over 1,250 global banking leaders, the report identifies key trends driving the future of payments for mid-tier banks, defined as financial institutions with between $3 billion and $100 billion in assets. In the U.S.

ISO 20022 52

ISO 20022 ISOs Technology Real Time Payments 52

Fintech Finance

FEBRUARY 27, 2024

Backbase , the global leader in Engagement Banking, today announced that Alacriti , an innovator in cloud-based payments and money movement services, will integrate its payments hub solution into the Backbase Engagement Banking Platform. The evolving U.S.

Instant Payments 52

Instant Payments Payment Solutions ISO 20022 FedNow 52

The Paypers

JULY 9, 2024

Azqore , a business and technology partner for wealth managers, has selected Volante to deliver SEPA instant payments and ISO 20022 messaging services to its customers.

ISO 20022 36

ISO 20022 Instant Payments ISOs Payments 36

The Fintech Times

JUNE 13, 2024

Mostafa Menessy , co-founder and CTO of MENA-based fintech company, Paymob breaks down the different technological advancements and initatives that are enabling the MENA region to take such a front running position in fintech and payments development.

Instant Payments 59

Instant Payments Payment APIs and Integration ISO 20022 PCI DSS 59

Finextra

AUGUST 7, 2024

At EBAday 2024, Wim Grosemans, Global Head of Product Management Payments and Receivables, BNP Paribas, set the scene around how the commercial payments market is evolving.

ISO 20022 59

ISO 20022 Cross-Border Payments Cross-Border ISOs 59

PYMNTS

NOVEMBER 10, 2020

Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. For financial service providers, instant payments offers a chance to open up new revenue streams and develop new services for corporate clients.

Real Time Payments 117

Real Time Payments B2B Value Added Service ISO 20022 117

PYMNTS

JANUARY 26, 2017

If the movement toward instant payments is a work in progress, the infrastructure that is needed to put that progress in place has its own journey, too. Once live, account servicing payment services providers can work with any payments denominated in the euro that are, in turn, compliant with messaging standards (ISO 20022).

Instant Payments 40

Instant Payments ISO 20022 Message Standards ISOs 40

Faster Payments Council

MARCH 15, 2023

With the system joining the existing RTP system, both promising to modernize the way money moves and allow for greater use of instant payments, it seems the shift to real-time payments is 'inevitable'. Learn how to position ISO 20022 as a part of an organization's broader payments modernization strategy.

FPC 88

FPC ISO 20022 Cross-Border Payments Cross-Border 88

PYMNTS

MARCH 19, 2020

The financial landscape is changing, moving toward instant payments, toward commerce that is always on – and for financial institutions (FIs) serving corporations and consumers across the world, the margin for error is fast disappearing.

Instant Payments 60

Instant Payments AI ISO 20022 Cross-Border 60

Finextra

JULY 7, 2024

Fraud is a billion-dollar business in the Instant Payments era. In 2024, banks will not only contend with the changing liability landscape, but the upcoming adoption of ISO 20022 as well. Both represent a historical shift in the financial.

ISO 20022 52

ISO 20022 ISOs Instant Payments Payments 52

Fintech News

DECEMBER 12, 2023

” Rise of instant payments in 2024 Source: Freepik Barry Rodrigues , EVP of Payments at Finastra highlights that instant payments are set to be a major focus in 2024, building on the momentum of initiatives like the US FedNow Service and the European Commission’s move towards instant euro payments.

FinTech 113

FinTech ISO 20022 Fraud Detection Instant Payments 113