Finextra

APRIL 18, 2024

UniCredit is now the first and only bank across its core markets to offer Swift GPI on international payments across each of its client segments - from retail clients up to SMEs and multinational corporates - following its recent roll-out of the free service in Austria, Italy and Germany.

SWIFT 52

SWIFT International Payments Payments 52

Payments Source

DECEMBER 10, 2020

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.

International Payments 99

International Payments Cross-Border Payments Cross-Border SWIFT 99

Fintech Finance

MARCH 19, 2024

Swift today announced it has been selected to build a service that will reduce the risk of misdirected payments and increase defences against payment fraud, providing Australians with more confidence when sending money.

Payee 59

Payee SWIFT Payment APIs and Integration Cross-Border Payments 59

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.

Central Bank 142

Central Bank SWIFT Digital Currency CBDC 142

Fintech Finance

APRIL 30, 2024

Veritran and Swift announce their collaboration that will enable financial institutions to offer an enhanced and streamlined cross-border payments experience to their customers. At Veritran, we’re fully committed to leading the charge towards an innovative future in international payments.”

Cross-Border Payments 52

Cross-Border Payments Cross-Border SWIFT Payment APIs and Integration 52

The Fintech Times

APRIL 27, 2024

Global tech firm Veritran has partnered with Swift , the world’s leading provider of financial messaging services, to enable financial institutions to offer an enhanced, streamlined and more transparent cross-border payment experience to their customers.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Payment APIs and Integration 59

Payments Source

MAY 23, 2017

Calling it a first in international payments, the Society for Worldwide Interbank Financial Telecommunication [Swift] is providing a cross-border, real-time payments tracker for banks handling global transactions.

SWIFT 60

SWIFT International Payments Cross-Border Real Time Payments 60

PYMNTS

OCTOBER 1, 2020

SWIFT , a global provider of secure financial messaging, announced a new service Thursday (Oct. 1) that promises to improve the experience for small and medium-sized businesses (SMBs) and consumers who send low-value payments across borders. SWIFT said this latest improvement is another building block for its new strategy.

Cross-Border Payments 113

Cross-Border Payments Cross-Border SWIFT Payments 113

Payments Dive

FEBRUARY 15, 2023

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

ISOs 205

ISOs SWIFT International Payments Payments 205

The Fintech Times

MARCH 31, 2024

SurePay , the IBAN-name check provider, confirmation of payee (CoP) and verification of payee (VoP) to over 100 banks, has expanded its services following a strategic agreement with Swift , the messaging network, and the integration of Swift’s payment pre-validation service.

Payee 59

Payee SWIFT Cross-Border Cross-Border Payments 59

The Paypers

JUNE 20, 2022

Russia’s Rostec Group , a government organization, has developed a blockchain platform to launch a digital system for international payments capable of replacing the global SWIFT system.

SWIFT 71

SWIFT Blockchain International Payments Payments 71

Payments Dive

APRIL 26, 2023

“As a standardized format, ISO 20022 creates a common language for international payments the world over,” writes an executive in support of industry collaboration.

ISO 20022 88

ISO 20022 SWIFT ISOs International Payments 88

PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution. and Ireland at SWIFT. . and Ireland at SWIFT. .

Cross-Border Payments 104

Cross-Border Payments Cross-Border SWIFT Wire Transfer 104

Payment Savvy

MARCH 22, 2023

Most international money wires have been possible with the infamous SWIFT code. If you’re dealing with international payments regularly, you must know of its existence. This article discusses the definition and purposes of the SWIFT network system. What Is the SWIFT Banking System?

SWIFT 52

SWIFT IBAN Transactions Encryption 52

PYMNTS

SEPTEMBER 14, 2020

Middle Eastern finance group Emirates National Bank Dubai (NBD) has deployed a centralized international payments hub on Tata Consultancy Services ' TCS BaNCS For Payments, according to a press release , which will help to boost payments in numerous countries across the world.

International Payments 70

International Payments SWIFT Payments Consulting 70

The Fintech Times

FEBRUARY 21, 2024

Practical improvements await Rachel Levi, global head of innovation engineering, SWIFT Rachel Levi , global head of innovation engineering, Swift , the cross-border payments provider, notes how the company and ecosystem are working to make practical improvements to international payment speed.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Finextra

JUNE 5, 2024

Founded by a team of former Swift executives, iPiD (International Payment Identity) has raised $5.3 million to roll out a Confirmation of Payee product across Europe.

Payee 69

Payee SWIFT Security International Payments 69

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. “Adoption of ISO 20022 will continue the transformation of correspondent banking already ongoing,” SWIFT said in its announcement.

ISO 20022 76

ISO 20022 ISOs SWIFT Cross-Border 76

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.

SWIFT 65

SWIFT International Payments Payments Global Payments 65

PYMNTS

OCTOBER 7, 2019

First Investment Bank ( Fibank ) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT data shows that about 36 percent of gpi transfers reach their destination within 5 minutes. Fibank lets its customers make international transfers in over 110 currencies.

SWIFT 43

SWIFT International Payments Correspondent Payment Message 43

Payments Source

JULY 22, 2019

dominated payments systems such as Swift, driven by the rise in cross-border trade and a desire to find non-dollar alternatives to international payments systems vulnerable to sanctions by the U.S. Russia and its BRICS partners are developing cross-border alternatives to U.S.-dominated government.

SWIFT 76

SWIFT Cross-Border International Payments Payments 76

PYMNTS

MARCH 21, 2019

SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. SWIFT gpi enables banks to conduct end-to-end tracking of the cross-border payment.

Cross-Border Payments 66

Cross-Border Payments Cross-Border SWIFT Payments 66

PYMNTS

OCTOBER 21, 2018

SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. The linkage was achieved by participant banks like National Australia Bank processing incoming SWIFT gpi payments onward as NPP instant payments.”.

Cross-Border Payments 64

Cross-Border Payments Cross-Border SWIFT Real Time Payments 64

PYMNTS

DECEMBER 2, 2020

that will offer access to direct deposits a day early, while SWIFT is rolling out a new offering for live international payments and transfers called gpi Instant. Plus, Aareal Bank Group is rolling out its Aareal Exchange & Payment Platform (AEPP) offering. SWIFT gpi Instant Goes Live in the UK.

SWIFT 56

SWIFT Direct Deposit Stablecoins International Payments 56

Fintech Finance

SEPTEMBER 18, 2024

According to the Financial Stability Board 2023 , fees for international payments currently average 1.5% Additionally, such payments can take several days to reach their recipients. By partnering with dLocal, Ontop will streamline the payment process, ensuring swift and cost-effective currency conversion to local currencies.

Payroll 59

Payroll Cross-Border Payments Cross-Border Financial Inclusion 59

Payments Source

JUNE 9, 2017

International payments and risk-based services provider INTL FCStone says its London-based global payments division will become a non-bank participant in Swift's global initiative to improve the cross-border transaction landscape.

SWIFT 60

SWIFT Payment Initiation Cross-Border Non-Bank 60

PYMNTS

OCTOBER 11, 2018

SWIFT announced Thursday (Oct. 11) that Santander , the retail and commercial bank, has gone live on SWIFT’s global payments innovation (gpi) service in Spain, the U.K., In a press release , SWIFT said Santander will go live in Chile and Mexico on SWIFT gpi by the end of this year. Argentina and Poland.

SWIFT 55

SWIFT Cross-Border Payments Cross-Border Real Time Payments 55

Fintech Finance

JUNE 7, 2024

This innovative platform is set to transform the landscape of cross-border payments, delivering new standards in traceability, transparency, and efficiency. Furthermore, once the transaction is sent, the payment can be tracked on its journey through to final credit to the beneficiary.

Cross-Border Payments 52

Cross-Border Payments Cross-Border SWIFT Payment APIs and Integration 52

PYMNTS

DECEMBER 18, 2018

SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. According to SWIFT, the SWIFT gpi service has improved the customer experience in cross-border payments by boosting speed, transparency and the traceability of payments.

Cross-Border 55

Cross-Border SWIFT Cross-Border Payments Correspondent Bank 55

Fintech Finance

JANUARY 2, 2024

StoneX has announced that it is one of the first financial organizations to enable Swift ’s new leading-edge solution for cross-border payments. Cross-border payments have long been a complex area marked by ongoing regulatory and compliance changes, bank offline hours, and increasing competition.

Cross-Border Payments 59

Cross-Border Payments Cross-Border SWIFT Verification 59

PYMNTS

SEPTEMBER 30, 2016

Global banks using SWIFT networks, the global interbank messaging system used to move trillions of dollars each day, are stepping up their security systems amid the rising threat of cyberattacks. The vulnerabilities of the SWIFT system — as well as the growing number of cybercrime incidents and hacking threats — have left the industry shaken.

SWIFT 67

SWIFT Security Procedures Central Bank 67

PYMNTS

FEBRUARY 28, 2019

SWIFT announced Thursday (February 28) that more than $40 trillion has been transferred over its gpi service last year. In a press release, SWIFT said its rapid adoption resulted in the share of cross-border messages using gpi having jumped to 56 percent at the end of last year compared to 15 percent at the beginning of the year.

SWIFT 46

SWIFT Cross-Border Payments Cross-Border Payment APIs and Integration 46

The Paypers

JULY 8, 2021

SWIFT has announced the go-live of a service that will enable banks to verify payee account details before an international payment is sent.

SWIFT 28

SWIFT Accounts Payee Verification 28

PYMNTS

APRIL 9, 2018

SWIFT ’s global payments initiative (gpi) service has a new bank on board. Reports on Friday (April 6) in WebIndia123 said ICICI Bank is the first in India to join and roll out the global payments service. SWIFT gpi significantly enhances this experience in cross-border payments by delivering a totally new standard.

SWIFT 54

SWIFT Cross-Border Payments Cross-Border Real Time Payments 54

PYMNTS

JULY 16, 2019

Sources have revealed that Venezuela might use a Russian-operated international payments messaging system in an effort to get around U.S. Bloomberg reported that press officials for the Venezuelan and Russian central banks didn’t immediately comment, while SWIFT declined to comment.

SWIFT 55

SWIFT OFAC Central Bank Treasury 55

Fintech News

APRIL 24, 2024

According to Wise , this alliance marks T2P as the first fintech in Thailand to offer international money transfers without exchange rate mark-ups or hidden fees through its e-wallet app – DeepPocket. Taweechai Pureetip Taweechai Pureetip, CEO of T2P said, “At T2P, we aim to empower our users with seamless, convenient and fast payments.

Cross-Border Payments 114

Cross-Border Payments Cross-Border APACS SWIFT 114

The Paypers

SEPTEMBER 24, 2019

(The Paypers) Equiniti Business Payment Services , the international payments division of Equiniti Group, has partnered with SWIFT , the global provider of secure financial messaging services.

SWIFT 31

SWIFT International Payments Business Payments Security 31