Fintech News

JUNE 12, 2024

Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. One idea is to have a central system for checking payments against sanctions lists, which could make the process faster and simpler.

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Cross-Border Payments Cross-Border Interoperability Payments 119

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. The world is moving more toward standards, and ISO is one of them,” said Halpin.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

The Fintech Times

JULY 17, 2024

. “GDF serves the digital asset community as an open innovation and standards platform and we welcome the opportunity to partner with industry leaders like GLEIF, to help set and better promote standards that enable a better integrated, efficient and interoperable digital financial system for all market participants.”

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Best Practices Interoperability Message Standards Legal 87

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. ” SWIFT pointed to the potential benefits of the ISO 20022 payments messaging standard for corporate payments in particular.

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ISO 20022 ISOs SWIFT Cross-Border 76

PYMNTS

MAY 31, 2018

This makes interoperability that much more difficult to achieve. Throckmorton and his team at NACHA believe that ISO 20022 , developed by the International Organization for Standardization (ISO), could be that common language. When you think about interoperability, a key element of that is standardization,” Throckmorton explained. “If

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ISO 20022 ISOs Interoperability NACHA 40

Fintech News

AUGUST 8, 2024

The Role of Swift in the Securities Space It is important to highlight Swift’s extensive role beyond cross-border payments, noting that approximately 50% of Swift traffic is related to securities, with peaks reaching 26 million messages per day.

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ISO 20022 APACS SWIFT ISOs 124

Finextra

MARCH 5, 2024

Watch this webinar on payment system interoperability; legal, regulatory and supervisory frameworks; and cross border data exchange and message standards.

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Cross-Border Cross-Border Payments Message Standards Interoperability 52

Fintech Finance

SEPTEMBER 18, 2024

Building on the implementation guidance, the second report, Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant Payment Adoption, delves into the specific benefits that ISO 20022 offers over legacy message standards.

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ISO 20022 ISOs Faster Payments FPC 96

The Fintech Times

JULY 15, 2024

” The SIC5 system, developed by the Swiss National Bank and SIX, uses the ISO 20022 messaging standard, enhancing interoperability and cross-border transactions, and paving the way for future international payment capabilities for Swiss banks.

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Instant Payments ISO 20022 Fraud Prevention Message Standards 72

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

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

PYMNTS

AUGUST 15, 2019

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Interoperability And Adoption . Hurdles And Supports .

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ISO 20022 ISOs Interoperability Message Standards 58

Fintech Finance

MAY 13, 2024

The certification, which enables and supports compliance to ISO 20022 messaging standards for Fedwire, applies to four of Finastra’s payment processing solutions, facilitating increased innovation for financial institutions across the United States.

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ISO 20022 ISOs FedWire Fed 52

PYMNTS

NOVEMBER 10, 2020

One of the biggest opportunities is in the ability for real-time payments technologies to not just move money quicker, but to also move rich data along with the transaction, particularly amid spreading adoption of the ISO 20022 payments messaging standard.

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B2B Real Time Payments Value Added Service ISO 20022 117

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

JANUARY 30, 2019

The gateway will enable the continuous monitoring and control of payment flows and the subsequent movement of goods by those trade platforms, while, to ensure global integration and interoperability, it will support application programming interfaces (APIs), as well as SWIFT and ISO standards.”.

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 60

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. For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific.

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Fed Instant Payments FedNow Interbank Settlement 75

PYMNTS

AUGUST 16, 2019

Although there are more efficient cross-border transactions being enabled, several roadblocks are still in the way, including payment tracking and issues with interoperability between market systems. Some FIs are also turning to blockchain-based solutions to improve transparency and interoperability.

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Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

PYMNTS

OCTOBER 2, 2019

However, with real-time payment modalities, and through the messaging standard ISO 20022, data can be easily uploaded into firms’ billing systems. There are many “flavors of fast” across interoperable systems, like Same Day ACH transactions, real-time payments and several daily settlement windows available from the FED.

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C2B Faster Payments Real Time Payments Lockbox 81

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. In July, 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 Real Time Payments 76

PYMNTS

JANUARY 30, 2019

The gateway will enable the continuous monitoring and control of payment flows and the subsequent movement of goods by those trade platforms, while to ensure global integration and interoperability it will support application programming interfaces (APIs), as well as SWIFT and ISO standards.”.

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 46

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. As Throckmorton pointed out, it’s not about moving money but more about making processes better, more standard and more secure.

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PYMNTS

AUGUST 19, 2016

As SWIFT continues to promote the adoption of the ISO 20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO 20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.

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ISO 20022 ISOs SWIFT Message Standards 40

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

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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Fintech Review

APRIL 9, 2025

XDC Network is ISO 20022 -compliant, aligning with the global messaging standard. ISO 20022 is an international standard for electronic data interchange between financial institutions. It enables richer, structured, and more secure messaging for payments, clearing, and settlements.

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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

MARCH 14, 2019

. “We believe the future of payments will continue to be based on fiat currency models and infrastructure,” said Kohli, adding that the global payments landscape is currently comprised of an existing system that is “reliable, secure, interoperable and fully embedded in a diverse and complicated landscape.”

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

PYMNTS

NOVEMBER 18, 2020

He said the movement toward standards – particularly the messaging standard ISO 20022 and its marriage of data to payment flows – will enable banks to help their clients reduce manual reconciliation and expand their own businesses. That was then, this is now.”.

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PYMNTS

JANUARY 17, 2018

Together, the partners will explore how to use distributed ledger technology to support post-trade procedures like corporate actions processing, while also digging into how key messaging standards like ISO 20022 can also come into play here. “To

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Blockchain ISO 20022 ISOs SWIFT 46

PYMNTS

DECEMBER 12, 2019

An embrace of global standards like the ISO 20022 messaging standard will be key, said Killam. Learning from World Peers.

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RTP Real Time Payments Faster Payments Cross-Border 72

PYMNTS

SEPTEMBER 21, 2016

Standards Australia will head the committee to guide implementation of blockchain technology and the messaging standards. Germany, Canada, Japan and others, reports said, and is looking to generate a streamlined and standard language for “interoperability among systems, privacy, security and terminology.”.

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PYMNTS

JANUARY 25, 2019

The rail was built on the ISO 20022 messaging standard, which sends data and payments together. Richardson noted that RTP’s design was based on federal recommendations and guidelines for a faster payments system, and that it is necessary for a Fed solution to be interoperable with it. as an example.

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PYMNTS

DECEMBER 4, 2018

a Bank of England consultation about the embrace of messaging standards – specifically, ISO 20022 – has garnered support of a Common Credit Message (CCM) that looks for harmonization of messaging across interbank payment efforts.

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PYMNTS

AUGUST 31, 2017

Payment System , published in early 2015, which highlights priorities that range from payments security to the adoption of the ISO 20022 messaging standard for cross-border payments. Another challenge, he said, is promoting competition while making sure faster payments systems are interoperable with each other.

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Federal Reserve Innovation Secure Payments Task Force Faster Payments 64

PYMNTS

AUGUST 5, 2019

Financial players’ attempts to address such issues include offering pre-validation services to confirm payment details prior to initiating payments, creating regional instant payment schemes or making domestic real-time payment systems interoperable to quickly move funds.

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Cross-Border ISO 20022 Cross-Border Payments Payment APIs and Integration 46

PYMNTS

JANUARY 26, 2017

Interoperability and integration of the buyer and sellers’ data is therefore essential. Further, blockchain, Finlync said, negates the need for participants to align with what the company described as “complex” payments messaging standards like ISO. Today, that data is stored in their ERP.”.

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Blockchain Cross-Border Payments B2B Cross-Border 57