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FV Bank Announces Launch of SWIFT Services to Enhance Global Payment Capabilities

Fintech Finance

licensed digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced its successful launch of its SWIFT code: ITTLPRS2XXX. This strategic milestone is significant for FV Bank clients as it expands inbound wire options alongside stablecoin-based payment rails.

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Citi and Bank of Shanghai Launch First-of-Its-Kind Payments Solution for International Travelers in China

Fintech Finance

Citi (NYSE: C) and Bank of Shanghai launched a first-of-its-kind payments solution on Bank of Shanghai ’s TourCard. The TourCard aims to provide international travelers a straightforward, cost-efficient and more streamlined Chinese yuan renminbi (CNY) payment journey while traveling in China.

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Payments firms gear up for new ISO standard

Payments Dive

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

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BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance

Fintech News

The initiative showcases how regulatory requirements can be embedded directly into cross-border payment processes, aligning with G20 priorities to make these transactions faster and more cost-effective. We are optimistic about the potential of these early results to enhance cross border payments.”

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UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks

Fintech Finance

The Bank of England has provided a strong commitment to the international programme through the development of its new Real Time Gross Settlement System (RTGS) which sits at the heart of the UK’s national payments infrastructure. The UK is increasingly falling behind the world order in this space, with the inability of Pay.UK

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Central Bank Of Russia: Electronic Money Could Render SWIFT Obsolete

PYMNTS

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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Bank of America upgrades improve international payment transparency

Payments Source

Bank of America has launched a cross-border payment tracker through its Swift GPI module that allows clients real-time visibility into their international payments.