PYMNTS

JULY 29, 2020

According to Reuters, the report urges increased use of the Cross-Border Interbank Payment System ( CIPS ) instead of the Belgium-based SWIFT system. In theory, this would help protect China’s global payments data from possible U.S.

ISO 20022 116

ISO 20022 SWIFT Cross-Border ISOs 116

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.

SWIFT 69

SWIFT Message Standards Payment Message Payments 69

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.

SWIFT 69

SWIFT Message Standards Gateways Payment Message 69

Fintech Finance

OCTOBER 21, 2024

However, as the industry moves to more standardization, Nium looks to serve as a payment messaging facilitator, supporting existing messaging formats, while bridging the path to new standards. The lack of standardization, coupled with the need for tailored integrations, often limits access to new opportunities.

Real Time Payments 95

Real Time Payments SWIFT Payment Networks Cross-Border Payments 95

Payments Source

FEBRUARY 27, 2018

The network says more than $100 billion in Swift GPI payment messages are sent daily, enabling payments to be credited to the end beneficiaries within minutes — and some within seconds.

Cross-Border Payments 65

Cross-Border Payments SWIFT Cross-Border Payment Message 65

PYMNTS

NOVEMBER 27, 2019

Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. ISO 20022’s path to ubiquity could serve as a model for faster payments technologies’ own adoption journeys.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Payments Source

APRIL 11, 2016

The Society for Worldwide Interbank Financial Telecommunication (Swift) has created a service to help financial institutions comply with requirements governing payments messaging.

SWIFT 63

SWIFT Compliance Payment Message Government Payments 63

Payments Source

APRIL 11, 2016

The Society for Worldwide Interbank Financial Telecommunication (Swift) has created a service to help financial institutions comply with requirements governing payments messaging.

SWIFT 63

SWIFT Compliance Payment Message Government Payments 63

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.

ISO 20022 62

ISO 20022 ISOs SWIFT Cross-Border 62

PYMNTS

JANUARY 26, 2021

Citi is accelerating its migration to the ISO 20022 payments messaging standard and has tapped a third-party FinTech to aid in the process. Citi Drives ISO 20022 Adoption With Volante.

ISO 20022 142

ISO 20022 ISOs Payment APIs and Integration Message Standards 142

Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

SWIFT 61

SWIFT Payment Message Payments Global Payments 61

Payments Source

SEPTEMBER 11, 2018

The Society for Worldwide Interbank Financial Telecommunication says a pre-validation system it will launch soon to catch payment message mistakes prior to dispatch should increase the number of payments reaching beneficiaries in less than 30 seconds.

SWIFT 62

SWIFT Payment Message Payments Faster Payments 62

Fintech Finance

OCTOBER 17, 2024

Broadridge’s Instant Payments Service utilises the Swift Alliance Gateway Instant (AGI), which offers a highly resilient infrastructure designed specifically to support instant payments messages, connecting with SwiftNet Instant to offer 24/7 availability and continuous and efficient exchange of instant transactions.

Instant Payments 98

Instant Payments Regulations SWIFT Payments 98

Payments Source

DECEMBER 12, 2016

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay.".

SWIFT 60

SWIFT Payment Message Payments Data Security 60

Payments Source

JUNE 15, 2017

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

Instant Payments 60

Instant Payments SWIFT Payment Message Faster Payments 60

PYMNTS

APRIL 9, 2019

Payments messaging company SWIFT is gearing up to close its Trade Services Utility (TSU), a workflow engine aimed at facilitating value-added supply chain services. Reports in Global Trade Review (GTR) on Monday (April 8) said SWIFT will switch off its TSU in December 2020.

SWIFT 73

SWIFT ISO 20022 Payment Message Liquidity Management 73

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. In a press release issued Wednesday (Jan. In a press release issued Wednesday (Jan.

SWIFT 57

SWIFT Treasury Management Payment Message Cross-Border 57

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 60

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

PYMNTS

SEPTEMBER 18, 2020

SWIFT has revealed plans to develop new real-time rails, while VSoft is wielding traditional bank rails to facilitate its real-time payments capabilities. It was a big week for payments messaging solution provider SWIFT , which announced that it will be revamping its real-time payments strategy.

Innovation 116

Innovation Payment APIs and Integration SWIFT Real Time Payments 116

Fintech Finance

SEPTEMBER 17, 2024

It replaces ISO 15022, which has been in place since 1992 and was designed to overcome interoperability and integration challenges between different clearing systems, improving the transparency and speed of transaction data in payments messages.

ISO 20022 105

ISO 20022 ISOs Reconciliation Message Standards 105

PYMNTS

SEPTEMBER 19, 2016

Reuters had previously reported last week that such a task force would form following the $81 million bank heist from Bangladesh Bank , a crime that infiltrated the SWIFT payments messaging network. The funds were stolen from Bangladesh’s central bank’s account at the New York Federal Reserve.

Cybersecurity 78

Cybersecurity Global Payments Central Bank Cross-Border Payments 78

PYMNTS

MARCH 21, 2017

For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need.

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

The Paypers

NOVEMBER 13, 2018

have issued an open call for interest for members of the payments industry wishing to join a newly created Standard Advisory Panel. (The Paypers) The Bank of England and Pay.UK

Payment Message 28

Payment Message Payments 28

PYMNTS

NOVEMBER 16, 2018

percent in 2017 per the flow of SWIFT interbank payment messages. Even with efforts to stem the decline in correspondent banking, The Financial Stability Board (FSB) noted on Friday (Nov. 16) that the practice still fell in popularity in 2017. Correspondent banking decreased by 4.1 At the same time, the practice fell by 15.5

Correspondent Bank 76

Correspondent Bank Correspondent Regulations Money Laundering 76

PYMNTS

NOVEMBER 30, 2018

SWIFT , a payment messaging firm based in Belgium, began implementing its SWIFTNet Instant service for the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service on Friday (November 30), when the first banks using it went live, according to a report by the company.

SWIFT 60

SWIFT Instant Payments Gateways Payment Message 60

Fintech News

OCTOBER 15, 2024

The Drivers of Change Source: Adobe Stock ISO 20022 has become the global standard for payments messaging, with two-thirds of real-time payment systems around the world already using it, according to Mastercard.

ISO 20022 110

ISO 20022 ISOs Payments Federal Reserve 110

PYMNTS

SEPTEMBER 5, 2019

In July, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. The new pre-authorization standard is now available for developers of APIs to adopt and use.

SWIFT 72

SWIFT ISO 20022 Authorization API 72

PYMNTS

NOVEMBER 22, 2016

Earlier this year, the bank joined the SWIFT global payments innovation initiative, joining dozens of other financial institutions to enhance cross-border payments using SWIFT’s payments messaging platform.

Cross-Border Payments 68

Cross-Border Payments Cross-Border SWIFT Payments 68

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.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

AUGUST 21, 2019

.” Australia’s real-time payments service went live in early 2018 and sought collaboration from FinTech firms and developers through the launch of a developer sandbox.

Payment APIs and Integration 71

Payment APIs and Integration Real Time Payments Breach Data Breach 71

PYMNTS

FEBRUARY 7, 2018

6), highlighting both the cost of payments processing and the inefficiencies involved in the process due to a lack of transparency and data in payment messaging, especially for small businesses (SMBs). The companies released their report on Tuesday (Feb.

Process 49

Process ISO 20022 Cross-Border Payments Payment Message 49

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.

B2B 117

B2B Real Time Payments Value Added Service ISO 20022 117

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 46

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

PYMNTS

OCTOBER 7, 2020

A very important lever is optimizing transaction message data elements, which involves understanding which elements of a payments message work best depending on the customer’s card issuer. Then during the initial transaction, there are three levers the merchant should focus on.

Transactions 103

Transactions Issuers Card Issuer Authorization 103

PYMNTS

APRIL 9, 2020

Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions.

Payment APIs and Integration 83

Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

JANUARY 17, 2017

“Demand for the real-time payments offered by Faster Payments has never been higher, and so, we are delighted to be able to launch this important new resource to help the developers that are making real time a reality for more customers than ever,” stated Faster Payments Head of Development Mike Banyard in a statement.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43