Fintech News

DECEMBER 10, 2024

Swift, the global financial messaging service provider, is collaborating with Google Cloud to develop innovative anti-fraud technologies. Federated learning allows participating institutions to train AI models on their own data and share only the learnings, not the data itself, with a central server managed by Swift.

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SWIFT AI Innovation Fraud Detection 95

Finextra

MARCH 25, 2024

Swift says a new round of sandbox testing has found that its central bank digital currency interlinking technology can enable financial institutions to carry out a wide range of transactions using CBDCs and other forms of digital tokens, easily incorporating them into their business practices.

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SWIFT CBDC Digital Currency Central Bank 132

Finextra

JUNE 18, 2024

Bank-to-bank payment messaging network Swift is working to facilitate interoperability of Verifcation of Payee schemes across Europe as new research shows that 83% of SMEs across France, Germany, Italy and Spain rank upfront beneficiary checks as important to them in trading across borders.

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SWIFT Payee Interoperability Payment Message 132

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. March 2023 marked the start of the migration with a coexistence period with MT messages.

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ISO 20022 APACS SWIFT ISOs 128

Fintech News

NOVEMBER 4, 2024

Global financial messaging network Swift , UBS Asset Management, and Chainlink have successfully demonstrated a new method for settling tokenised fund transactions in a recent pilot program. said Jonathan Ehrenfeld, Head of Strategy, Swift. said Jonathan Ehrenfeld, Head of Strategy, Swift.

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SWIFT Settlement Blockchain Facilitators 110

Fintech News

OCTOBER 16, 2024

Swift, the global financial messaging network, is launching a new AI-powered service to help banks fight financial crime. This new capability builds on Swift ‘s existing Payment Controls Service and was developed in collaboration with banks around the world.

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Fraud Detection SWIFT AI Financial Crimes 109

Finextra

MAY 30, 2024

Banking co-operative Swift is working with global banks on AI pilots to tackle cross-border payments fraud.

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SWIFT Cross-Border Payments AI Cross-Border 119

Fintech News

DECEMBER 11, 2023

Swift has announced the launch of its first-ever “The Innovation Challenges” that invites participants to create AI-based solutions aimed at improving the efficiency and security of cross-border transactions. They will be granted access to the Swift Challenge sandbox environment.

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Cross-Border SWIFT AI Innovation 128

Fintech Finance

DECEMBER 11, 2024

To better combat fraud in cross-border payments, Swift, the global provider of secure financial messaging services, is working with Google Cloud to develop anti-fraud technologies that use advanced AI and federated learning. Our collaboration with Swift exemplifies the transformative potential of federated learning and confidential computing.

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SWIFT AI Cross-Border Payments Privacy 95

Fintech News

MARCH 19, 2024

Swift has been selected by Australian Payments Plus (AP+) to develop a new service aimed at enhancing the safety and security of money transfers in Australia. This is achieved by matching the name provided by the sender with the name linked to the recipient’s account, leveraging Swift’s experience with the New Payments Platform (NPP).

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SWIFT Payee Cross-Border Payments Scams 111

Fintech News

JULY 23, 2024

billion mobile wallets worldwide using their existing Swift connectivity. Payments initiated over Swift will reach TerraPay’s system efficiently and transparently from account to wallet, utilising Swift’s transaction tracking capabilities. Swift connects more than 11,500 financial institutions in over 200 countries.

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SWIFT Cross-Border Cross-Border Payments Payments 110

Fintech News

MAY 21, 2024

Swift has announced a major upgrade aimed at improving the cross-border payment experience for corporate customers. By standardising payments end-to-end with ISO 20022, Swift enables financial institutions to capture detailed data from the outset. Swift’s efforts align with the G20’s objectives for cross-border payments.

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ISO 20022 Cross-Border Payments Cross-Border ISOs 108

Fintech Finance

NOVEMBER 5, 2024

Swift , UBS Asset Management , and Chainlink have successfully completed a pilot for settling tokenized fund subscriptions and redemptions using the Swift network. The pilot used existing Swift infrastructure which enables end-to-end payment orchestration capabilities to settle fund subscriptions and redemptions.

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SWIFT Innovation Digital Currency Blockchain 103

Fintech Finance

OCTOBER 16, 2024

Trovata , the pioneering force in corporate bank APIs, announces a new collaboration with Swift , the world’s leading provider of secure financial messaging services, which will extend the benefits of Swift’s tracking capabilities to more businesses through API connectivity.

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SWIFT ISO 20022 Cross-Border Payments API 98

Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

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Cross-Border Payments Cross-Border SWIFT Fed 125

Fintech News

OCTOBER 6, 2024

Swift, the global financial messaging network, will launch live trials of digital asset and currency transactions in 2025. Banks in North America, Europe, and Asia will participate, using Swift ’s platform to conduct transactions involving both digital assets and traditional currencies.

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SWIFT Transactions Settlement Use Case 102

Finextra

MARCH 19, 2024

Fiancial messaging co-operative swift has been enlisted by Aastralian Payments Plus (AP+) to build a confirmation of payee service to reduce the risk of misdirected payments and increase defences against payment fraud.

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Payee SWIFT Risk Payments 111

Fintech Finance

JULY 23, 2024

billion mobile wallets around the world using their existing Swift connectivity, enhancing the cross-border payments experience for businesses and consumers. Swift connects more than 11,500 financial institutions in over 200+ countries. We estimate that we are reaching 600m unbanked consumers.”

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SWIFT Cross-Border Cross-Border Payments Accounts 98

Fintech Finance

OCTOBER 17, 2024

Swift today published new data which reveals continued progress towards meeting the G20’s goal for the speed of cross-border payments, reporting that 90% of cross-border payments made over the Swift network reach the destination bank within an hour. Swift is committed to continuing to support these efforts.”

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Cross-Border Payments Cross-Border SWIFT ISO 20022 98

Fintech Finance

OCTOBER 14, 2024

The collaboration progresses a strategic relationship the two organisations announced in October 2022, and reflects a commitment by Swift, GSS and the GSS Advisory Board, comprising 35 of the world’s leading financial institutions, to reduce inefficiency in the global payments ecosystem.

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Cross-Border Payments Cross-Border SWIFT Innovation 97

Fintech Finance

OCTOBER 16, 2024

Swift today announced that it is rolling out new AI-enhanced fraud detection to help the global payments industry step up its defence as bad actors grow increasingly sophisticated. Available from January 2025, the service is the result of extensive collaboration with banks from around the world and a successful pilot earlier this year.

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Cross-Border Payments Cross-Border SWIFT AI 98

Fintech News

JUNE 4, 2024

Founded in 2021 by former Swift executives, iPiD offers advanced payee verification and identification solutions aimed at enhancing global payment security. ” The post Former Swift Execs’ Fintech iPiD Raises US$5.3M in Pre-Series A appeared first on Fintech Singapore.

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SWIFT Payee FinTech Verification 112

Finextra

NOVEMBER 30, 2023

Swift has connected domestic payment schemes across Europe to provide full transparency and end-to-end tracking for instant cross-border transfers destined for the EU.

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SWIFT Cross-Border Instant Payments Process 118

The Fintech Times

JUNE 1, 2024

Swift , the global financial messaging service, is set to launch two pilots of its own which will test the practical application of AI to enhance fraud detection in payments. ” The post How are Financial Firms Like Visa, Swift, Pay.UK That’s an incredibly exciting prospect, but one that will require strong collaboration.

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SWIFT AI Fraud Detection Fraud Prevention 124

Fintech Finance

OCTOBER 21, 2024

Thunes , the Smart Superhighway to move money around the world, today announced its proprietary Direct Global Network now provides banks with access to over 3 billion mobile wallets around the world via their existing Swift connectivity.

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SWIFT Cross-Border Payments Cross-Border Financial Inclusion 97

Fintech Finance

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. For more information on how to connect to Nium via Swift, visit here.

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Real Time Payments SWIFT Payment Networks Cross-Border Payments 95

Fintech Finance

JUNE 13, 2024

BVNK , the stablecoin payments provider, announced today that it has enabled Swift payments on its platform, so businesses can move easily between US dollars, Euros and stablecoins like USDT, USDC and PYUSD. They want to move funds faster around the world, for less cost and risk.

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Stablecoins SWIFT Settlement Digital Currency 99

Finextra

SEPTEMBER 11, 2024

Global banking co-operative Swift is moving forward with plans to offer member banks access to emerging digital asset classes and currencies over its network, covering a range of use cases in payments, securities, FX, trade and beyond

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SWIFT CBDC Use Case Payment Security 98

Fintech Finance

JUNE 18, 2024

Swift today published the findings of research that shows Small and Medium Enterprises (SMEs) in the European Union feel positive about the EU’s Instant Payments Regulation, with many expecting it to save them money, improve their cashflow, and increase their competitiveness. Research was conducted from 18-29 April 2024. [ii]

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Instant Payments SWIFT Cross-Border Payments Cross-Border 97

Payments Dive

OCTOBER 10, 2022

The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.

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Cross-Border Payments Cross-Border SWIFT Payments 218

Finextra

DECEMBER 11, 2024

Bank-to-bank Payment network Swift is working with Google Cloud to develop multi-jurisdictional anti-fraud technologies that use advanced AI and federated learning

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SWIFT Payment Networks AI Technology 75

Finextra

OCTOBER 16, 2024

Banking co-operative Swift is rolling out an AI-powered anomaly detection service to help banks proactively detect and defend against potential financial crime.

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SWIFT AI Financial Crimes Crime 83

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.

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ISOs SWIFT International Payments Payments 205

Fintech Finance

JANUARY 9, 2024

Along with his colleague Hean, they both speak about how Bottomline help them to access the Swift network and stay compliant with ISO 20022. The post The Paytech Show #77: How Cambodia’s Biggest Banks are Accessing Swift and Crossing Borders. With ABA Bank and Bottomline. appeared first on Fintech Finance.

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Cross-Border ISO 20022 SWIFT ISOs 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

The Paypers

OCTOBER 17, 2024

Swift has announced its plans to introduce a new AI-enabled fraud detection to support the global payments sector in mitigating fraudulent activities.

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SWIFT AI Fraud Detection Mitigation 73

The Paypers

NOVEMBER 5, 2024

Swift, UBS Asset Management, and Chainlink have recently completed a pilot programme focused on settling tokenised fund subscriptions over Swift.

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SWIFT Transactions Blockchain 74