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Message Standards Payments SWIFT 
Payments Source
DECEMBER 2, 2020
After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.
Payments Source
APRIL 24, 2019
Javier Pérez-Tasso has been named the new CEO of payments messaging standards provider Swift, replacing Gottfried Leibbrandt, who steps down from the post at the end of June.
115
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Fintech News
AUGUST 8, 2024
In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. As the industry evolves, adopting robust standards like ISO 20022 becomes crucial for driving these benefits.
124 
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. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”
76 
Payments Source
MARCH 12, 2019
Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.
79 
Payments Source
JUNE 3, 2019
Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.
69 
Payments Source
DECEMBER 16, 2019
Payments messaging standards provider Swift has opened its global Know Your Customer registry to all the corporations it connects to following a successful test.
69 
PYMNTS
NOVEMBER 27, 2019
The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business. Progress in Tackling Cross-Border Payments Friction.
117 
Payments Source
NOVEMBER 6, 2019
Swift and EBA Clearing have started developing the process by which Europe's large-value payment system will migrate to use of the ISO 20022 messaging standard.
62 
PYMNTS
SEPTEMBER 5, 2019
A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. API standards accelerate the introduction of new services.
72 
Fintech Finance
OCTOBER 22, 2024
Temenos today launched a SaaS enterprise service for cross border payments, empowering Payment Service Providers (PSPs), including banks, electronic money institutions (EMIs) and fintechs, to swiftly launch and lower the cost of cross border payment services. The service is ISO20022 ready and supports SWIFT-based flows.
Payments Source
APRIL 4, 2019
Payments messaging standards provider Swift has established a new group to help it promote and assure smooth migration of the cross-border ISO 20022 standard.
62 
PYMNTS
JANUARY 30, 2019
Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink eCommerce and trading platforms with the SWIFT gpi payment service.”. SWIFT said the first part of this proof-of-concept effort will involve Corda , an R3 blockchain platform.
60 PYMNTS
JANUARY 24, 2019
Payments messaging company SWIFT is expanding its gpi for Corporates (g4C) initiative, adding treasury management technology company BELLIN to its roster of early adopters of the tool. The tool expanded and began requiring SWIFT customers to include their UETR in all payment instructions, even for institutions not part of gpi.
57 
PYMNTS
AUGUST 16, 2019
Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. A Call for Transparency.
Fintech Finance
APRIL 12, 2024
Finzly , the pioneering provider of modern money movement systems to financial institutions, has announced its achievement as one of the first Third-PartyService Providers (TPSP) to be certified for compliance to ISO 20022 messaging standards for Fedwire.
78 
Fintech Finance
JULY 8, 2024
Icon Solutions today announces it has strengthened and expanded its strategic partnership with NatWest with the appointment of Ian Povey, CIO Payments Technology, and Lee McNabb, Head of Payments Strategy and Partnerships, as Board Observers. He also serves on the Board of Directors of SWIFT.
97 
The Fintech Times
JULY 20, 2024
As global outages hit banking firms and payments worldwide, are we to be forever doomed by glitches, power outages and cyberattacks? On Thursday 18 July, the CHAPS system, used by UK high-street banks and lenders to send money to one another, experienced an outage, caused by a glitch related to the global network Swift.
122 
PYMNTS
JANUARY 30, 2019
Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink ecommerce and trading platforms with the SWIFT gpi payment service.”. SWIFT said the first part of this proof-of-concept effort will involve Corda, an R3 blockchain platform.
46 
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 ).
PYMNTS
MARCH 21, 2017
A new report from financial services company Nordea says corporates are waiting for their banks and other FinServ providers to standardize payment processes. The majority of companies surveyed by Nordea for its Future of Payments report said they are working with at least five banks for their payments and collection needs.
77 
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.
40 
PYMNTS
SEPTEMBER 23, 2019
The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service. If payments are not fully enabled for ISO 20022 by the time SWIFT rolls the system out, messages might get cut off.
76 PYMNTS
MARCH 9, 2018
SWIFT has offered another update on its blockchain proof of concept (PoC), reiterating its potential to enrich transaction data, support real-time liquidity management and reconciliation and more. The PoC includes 34 banks, each with their own node in SWIFT’s DLT sandbox.
43 PYMNTS
SEPTEMBER 11, 2019
According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.
PYMNTS
FEBRUARY 21, 2019
This week, the EU Parliament voted for new rules mandating that banks cut fees on cross-border euro payments for countries within and outside the Eurozone. Faster Payments In Asia. In Canada, Payments Canada said on Wednesday (Feb. Aniruddha Sane, chief business officer of TerraPay, stated, “TerraPay enables more than 1.5
76 
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. Privately-owned companies are also looking to solve the cross-border payments problem.
PYMNTS
AUGUST 1, 2019
In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.
PYMNTS
MAY 1, 2019
Payments processing and financial message integration company Volante Technologies is expanding its Payments-as-a-Service offering for financial institutions in the U.S. and cross-border payments. and cross-border payments. financial institutions.
66 
PYMNTS
JULY 9, 2020
There’s no single path to payments infrastructure innovation. This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain.
77 
PYMNTS
MARCH 14, 2019
For corporate treasurers, Manish Kohli, global head of payments and receivables at Citi , told PYMNTS’ Karen Webster, three concerns tend to top the list: geopolitical uncertainty, cyber threats and disruption resulting from the emergence of new business models in an interconnected global market. More Progress, New Challenges.
PYMNTS
JUNE 16, 2020
The holy grail of payments modernization can be boiled down into to one word: standardization. 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.
72 
PYMNTS
OCTOBER 2, 2019
To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.
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. . Deep Data For Swift, Secure Payments . High-value payment systems operated by the U.S.
58 
Fintech News
DECEMBER 10, 2023
These reports from invested financial and technology players provide in-depth insights into areas such as identity fraud, the integration of artificial intelligence in banking, and the evolving landscape of digital payments.
121 
PYMNTS
APRIL 19, 2016
Payments technology developers and regulators are beginning to voice their support for ISO 20022, the payments messaging standard that proponents say can streamline global payments with an easier way to link data to a transaction. SWIFT has similarly taken to boosting ISO 20022’s adoption within Canada , too.
40 
PYMNTS
JANUARY 19, 2021
Volante Technologies , which works in cloud payments and financial messaging, is working with Citi to expedite Citi’s adoption of the ISO 20022 financial messaging standard, according to a press release. There’s a common standard, and payments will be able to be processed faster.
60 
The Payments Association
FEBRUARY 14, 2025
Based on the European Central Bank’s revealed statistics for 2024, the total number of digital payments in the euro area in the first half of 2024 increased by 7.4% Is the industry prepared to handle the growth in digital-first payments, or will slow adopters be left scrambling to retrofit legacy infrastructures?
100 
PYMNTS
AUGUST 28, 2019
Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. A Different Kind Of Challenge.
52 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. in its faster payments initiatives.
40 
PYMNTS
AUGUST 13, 2019
The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. Around the Faster Payments World. Serving Quick Payments to the QSR Industry.
62 PYMNTS
SEPTEMBER 23, 2019
Corporates have growing expectations for faster, more efficient and more secure B2B payments — whether their money is moving from one business unit to another or one country to another. Payments Speed and Security. As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments.
49 
PYMNTS
SEPTEMBER 7, 2017
Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress. For the Fed, progress means improving the speed, security and efficiency of the payments system, and to focus on international payments capabilities and promote collaboration within the field.
49 
PYMNTS
JANUARY 17, 2018
16), is with Yes Bank, which will leverage HashCash’s HC NET blockchain network to deploy a corporate payments solution that can facilitate cross-border transactions. The promise of the technology on paper is great, but it is currently missing a key component around standardization.
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