Fintech Finance

APRIL 24, 2024

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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ISO 20022 Cross-Border Payments ISOs Cross-Border 145

PYMNTS

MARCH 17, 2020

In this week’s look at payment rails innovation, PYMNTS finds a slew of new markets around the world adopting entirely new payment networks that can support their demand for real-time transactions. Qatar Embraces SWIFT gpi. Explore all of the latest initiatives below.

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Instant Payments Payment Networks Cross-Border Payments Cross-Border 98

Finextra

OCTOBER 21, 2024

Nium, the leading global infrastructure for real-time cross-border payments, today announced that financial institutions can now leverage Swift capabilities and their existing Swift infrastructure to connect to Nium’s global real-time payments network.

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

PYMNTS

JANUARY 31, 2019

Financial messaging service SWIFT said this past week that it has fashioned a partnership with R3 , a blockchain startup. The partnership will integrate the R3 platform into the SWIFT global payments innovation (gpi) offering. I think that today, that is not what SWIFT is.”. CNBC noted that R3 competes with Ripple.

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SWIFT Blockchain Cross-Border Payments Federal Reserve 77

PYMNTS

OCTOBER 15, 2020

Panel members included Russ Waterhouse , EVP at The Clearing House; Mike Kresse , SVP card and money movement at FIS; Jane Larimer , CEO at Nacha; David Scola , chief executive, Americas and UK at SWIFT; and Jeremy Allaire , CEO at Circle. Moving Beyond ACH . So that is certainly an aspiration.

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Real Time Payments NACHA SWIFT TCH 125

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 attacks will continue and get more sophisticated,” SWIFT Chief Executive Gottfried Leibbrandt stated during the conference. “I

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SWIFT Security Procedures Central Bank 67

Fintech Finance

NOVEMBER 19, 2024

As the holiday shopping season approaches, card-based payments continue to dominate consumer transactions. Rivero, a SaaS software developer for dispute management and payment network compliance, has first-hand data on customer cardholder disputes thanks to its Amiko solution.

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Disputes Consumer Protection Duplicate Transactions 96

Finovate

FEBRUARY 20, 2025

The bank featured direct connections to all payment networks, including ACH, wires, RTP, FedNow, and Swift, as well as a multi-currency general ledger, low-code customer-onboarding forms, online experiences, and more. Live Oak Bank is only the latest partnership announced by Finzly this year.

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FedWire ISO 20022 ISOs Payment APIs and Integration 114

Payments Source

APRIL 18, 2017

Bottomline Technologies, which specializes in business payments, is the latest to introduce a fraud-fighting solution for members of the Swift payment network.

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SWIFT Payment Networks Business Payments Technology 60

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.

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SWIFT Message Standards Gateways Payment Message 69

Payments Source

MAY 26, 2016

Investigators are examining possible computer breaches at as many as 12 banks linked to Swift’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar with the probe.

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SWIFT Central Bank Breach Payment Networks 64

The Fintech Times

FEBRUARY 13, 2025

During this year’s show, Money20/20 plans to focus on Asias innovations, emerging payment networks, and regulatory leadership that shape the payment ecosystem in the region. The rapid growth of e-commerce and cashless economies in this region calls for impactful payment solutions.

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Cross-Border Payments Cross-Border APACS Payments 72

Payments Source

DECEMBER 27, 2018

The financial services and payments industries are aggressively trying to replace older systems with sleeker technology, but Swift has a separate goal in mind with the Global Payments Innovation system, or GPI.

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SWIFT Global Payments Innovation Technology 67

Payments Source

MAY 11, 2016

Officials from the Federal Reserve Bank of New York, Bangladesh Bank and the payments network Swift vowed Tuesday to catch the thieves who took $81 million out of the Bangladesh central bank's account at the New York Fed.

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Fed SWIFT Federal Reserve Central Bank 60

PYMNTS

NOVEMBER 27, 2019

According to Tom Halpin, head of payment products at HSBC , faster and real-time payment services don’t only provide the value of speed for corporate clients, especially in the context of cross-border transactions. Progress in Tackling Cross-Border Payments Friction.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

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.

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PYMNTS

SEPTEMBER 17, 2020

In today’s top news in digital-first banking, SWIFT has announced that its international platform will be updated to let financial institutions (FIs) provide instant transactions, and VSoft has rolled out its new Bread merchant services network. SWIFT to Create New Cross-Border Real-Time Rails.

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SWIFT Cross-Border RTP Payment Networks 52

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.

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SWIFT Payment Message Payments Global Payments 61

PYMNTS

NOVEMBER 7, 2018

FIS , a global leader in financial services technology, announced that it has connected LVMH Group to the SWIFT Global Payments Innovation (gpi). LVMH Group plans to expand its SWIFT gpi implementation across its full cross-border payment network, which processes more than 1.5 million payments annually.

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SWIFT Cross-Border Payments Cross-Border Treasury 58

PYMNTS

MARCH 5, 2019

The Reserve Bank of India (RBI), the country’s central banking institution, has fined almost 20 lenders, including the State Bank of India and ICICI Bank, for not complying with rules on the use of worldwide payments network SWIFT, according to reports. The specific reasons for the non-compliance was not released.

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Non-Bank SWIFT Compliance Procedures 56

Payments Source

MARCH 18, 2019

The tech company has taken World Wire, its blockchain-based cross-border payments network, live in 72 countries.

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Cross-Border Payments Cross-Border SWIFT Wire 72

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.

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SWIFT Payment Initiation Cross-Border Non-Bank 60

Fintech Finance

MAY 21, 2024

Swift has today set out plans to help financial institutions streamline the cross-border payments experience for their corporate customers, by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labelled tracking services that can be activated for customers at the click of a button.

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ISO 20022 SWIFT Cross-Border Payments Cross-Border 59

PYMNTS

AUGUST 31, 2020

The first is improved speed, shown by the adoption of cloud technology from global payments network SWIFT. This network is quickly becoming more popular as a replacement for correspondence banking models, partnering with BNY Mellon and Microsoft to enable payments at 11,000 FIs in more than 200 countries around the world.

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Real Time Payments Online and Mobile Banking Correspondent Bank SWIFT 135

PYMNTS

FEBRUARY 6, 2017

NCR Corporation, a global leader in omnichannel solutions, announced that Bottomline Technologies has integrated Authentic, NCR’s intelligent transaction processing platform, into its Direct Faster Payment Service (FPS) solution. based financial institutions to connect securely to the Faster Payments network.

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Faster Payments Payment Networks Fraud Detection Regulatory Compliance 46

PYMNTS

FEBRUARY 3, 2019

SWIFT global payments network has agreed to help Bangladesh Bank rebuild its infrastructure after hackers stole $81 million in 2016. The funds were stolen when cybercriminals hacked into Bangladesh’s systems and sent fake orders via SWIFT to the NY Fed. For its part, RCBC says the lawsuit is beyond the U.S.

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Payments Source

DECEMBER 18, 2018

The Global Payments Innovation service now moves 55 percent of Swift's cross-border transactions as it nears its second anniversary.

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Cross-Border Cross-Border Payments SWIFT Global Payments 60

Fintech Finance

SEPTEMBER 5, 2024

Ume , a payment network and merchant services platform for small- and mid-sized businesses (SMBs) on Pix, has announced it has raised $ 15 million in Series A equity funding. The round was led by PayPal Ventures, with participation from NFX, Globo Ventures, Clocktower Ventures, Big Bets, FJ Labs, Endeavor and Norte Ventures.

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PayPal BNPL Payment Networks SWIFT 104

Fintech News

MARCH 27, 2024

Additionally, the integration with the Swift network will broaden Paysend’s global reach, providing users with more options for international payments. Looking ahead, Currencycloud will support Paysend in launching new consumer products and services planned for late 2024.

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Cross-Border SWIFT Funds Transfer Facilitators 107

PYMNTS

APRIL 20, 2016

Treasury management firm Reval, which provides cloud-based cash management solutions, is now linking its corporates into the SWIFT network. The executive added that SWIFT is working to train clients and adhere to their requirements to ease the onboarding of businesses into its network. Ed Adams in a statement.

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Treasury Management Treasury SWIFT Cash Management 40

Payments Source

JULY 18, 2019

Swift completed a seven-country trial of its cross-border GPI Instant payment service resulting in the successful integration with Singapore’s domestic instant payment network FAST.

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Cross-Border Instant Payments SWIFT Payment Networks 69

PYMNTS

SEPTEMBER 26, 2016

Earlier this year, cybercriminals stole $81 million from the Bangladeshi central bank, and they also stole the trust that the SWIFT global payments network had built with its 11,000 users. Payments networks must constantly find new ways to battle incoming digital threats. from March 2015 to March 2016.

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Online and Mobile Banking SWIFT Credential Central Bank 78

PYMNTS

AUGUST 20, 2020

New research says businesses are eager to make the leap into real-time payments (RTP) — and to embrace new payment rails in their effort. A new survey from Citizens Bank says businesses are jumping into the real-time payments opportunity. ” AscendantFX Eyes Payment Tracking With gpi. .

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RTP Phixius FPC Payment APIs and Integration 101

PYMNTS

FEBRUARY 25, 2020

Below, PYMNTS explores the latest initiatives to improve existing payment networks for better corporate payments. This week, Kyriba announced the debut of the Kyriba Payments Network, a solution designed for treasurers and CFOs to unify and streamline their payments activity in an effort to mitigate the risk of fraud.

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Cross-Border Payments Cross-Border SWIFT Debit Network 56

PYMNTS

DECEMBER 15, 2020

In this regard, payment networks, payment rails and financial institution (FI) infrastructures can all collaborate together to adapt to emerging use cases, including the need to move data along with money. Bank Of America Wields SWIFT gpi.

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PYMNTS

JULY 1, 2019

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. Canadian payments network Interac has experimented with blockchain for consumer payments.

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Cross-Border Payments Cross-Border Blockchain SWIFT 84

Fintech News

FEBRUARY 5, 2024

Airwallex’s technology will enable multi-currency payment options for McLaren, streamlining transactions and reducing SWIFT fees through its global payment network.

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Global Payments Multi-Currency Cross-Border Treasury Management 107