Swift preps live digital asset trials
Finextra
OCTOBER 3, 2024
Banks around the world will next year start live trials of digital asset and currency transactions over the Swift network.
SWIFT Related Topics 
Swift Works on Enabling Real-Time Exchange of Digital Assets and Payments
Fintech News
SEPTEMBER 11, 2024
Swift, the global financial messaging network, is actively working to incorporate regulated digital assets and currencies onto its platform. Building on a series of successful experiments, Swift is advancing efforts to create practical solutions that will enable its members to transact seamlessly with digital assets.
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Swift opens API channel for ISO 20022 corporate payment tracking
Finextra
MAY 21, 2024
Swift is working with 25 leading cash management banks and 20 corporates to develop a white labelled transaction tracking service for ISO 20022 messages across the entire payment chain.
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Swift hails results of CBDC connector testing
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 bids to connects VoP schemes across Europe
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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Ant International Joins Swift Initiative for Cross-Border Payment Interoperability
Fintech News
DECEMBER 8, 2024
Ant International has joined Swift ‘s “Network Interoperability Reference Implementation” programme, a pre-pilot initiative designed to improve cross-border payment experiences. This collaboration builds on Ant International’s recent membership in Swift, further streamlining its connections to multiple banks.
Swift to pilot AI in fight against fraud
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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Championing Swift Connectivity for Private Banks and Asset Managers in APAC
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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Google Cloud joins with Swift in fight against fraud
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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EPC Selects Swift for the EPC Directory Service
Fintech Finance
JANUARY 21, 2025
The European Payments Council (EPC) is pleased to announce the start of the delivery project for the EPC Directory Service (EDS), after selecting Swift as supplier for the development and operations of the EDS and after signing an agreement at the end of 2024.
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Nium Offers Swift Connectivity for Faster Cross-Border Payments
Fintech News
OCTOBER 20, 2024
Nium, a global payments infrastructure provider, announced that financial institutions can now connect to its real-time payments network using their existing Swift infrastructure. By utilising Swift MT and ISO 20022 messaging formats, Nium enables seamless connectivity for banks, facilitating quicker settlements and enhanced transparency.
Trovata Works with Swift to Modernize Global Multibank Connectivity
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 Unveils AI Pilots to Combat Cross-Border Payment Fraud
Fintech News
JUNE 2, 2024
Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs. That’s an incredibly exciting prospect, but one that will require strong collaboration.
Swift, UBS, and Chainlink Advance Tokenised Fund Settlement Under Project Guardian
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 selected to build national confirmation of payee service in Australia
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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Swift, UBS Asset Management, and Chainlink Successfully Complete Innovative Pilot to Bridge Tokenized Assets With Existing Payment Systems
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 and Google Cloud Join Forces to Combat Fraud with AI Innovations
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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TerraPay Enables Financial Institutions to Send International Account-to-Wallet Payments Using Swift
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 to Launch AI-Powered Fraud Defence to Enhance Cross-Border Payments
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.
Swift connects instant payment systems to bring 24/7 processing across borders
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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How are Financial Firms Like Visa, Swift, Pay.UK and Mangopay Using AI to Combat Financial Fraud?
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 Cross-Border Payment Processing Speed Stretches Further Ahead of G20 Target
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.”
Swift to Launch AI-Powered Fraud Detection in 2025
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.
Financial Institutions Can Now Send Swift Payments Directly to E-Wallets via TerraPay
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 Invites Fintech Pioneers to Join AI-Based Cross-Border Innovation Challenge
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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How Swift is moving the global financial industry towards instant and frictionless payments
The Payments Association
JANUARY 15, 2025
Swift drives global interoperability and innovation, aligning with the UK’s National Payments Vision to enhance seamless, secure payments. This is an example of how the scale of the Swift network can be leveraged to interoperate market infrastructures to enhance the user experience. The result is an improved customer experience.
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3 ways Swift is deploying tech for payments
Bank Automation
JUNE 14, 2024
International payments network Swift is deploying technology to make its payments faster, safer and more efficient.
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RegTech Innovator GSS Teams Up with Swift to Drive Frictionless Cross-Border Payments
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.
Google Cloud and Swift Pioneer Advanced AI and Federated Learning Tech to Help Combat Payments Fraud
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 to develop concrete plans for CBDC and tokenised asset exchange
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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Thunes Enables Banks to Unlock Mobile Wallet Payments Via Their Existing Swift Connectivity
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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Cross-border payment plays rev up
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.
RBI Discusses CBDCs for Cross-Border Payments with HKMA, US Fed, and SWIFT
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.
Swift unveils AI-powered real-time fraud barrier
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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Nium Enables Financial Institutions to Connect to Its Real-Time Payments Network via Swift
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.
Swift selected supplier for EPC Directory Service
The Paypers
JANUARY 21, 2025
The European Payments Council (EPC) has officially selected Swift to develop and operate the EPC Directory Service (EDS) following a comprehensive Request for Proposal (RFP) process conducted in the second and third quarters of 2024.
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Payments firms gear up for new ISO standard
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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Swift Research Finds European SMEs Expect to Be More Competitive and Save Money as a Result of Instant Payments Regulation
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]
BVNK Launches US Dollar Payments via Swift, Enabling Global Businesses to Access Its Stablecoins Services
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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Nium connects with Swift
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 Moves Beyond Experiments to Trial Live Digital Asset Transactions in 2025
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 to introduce AI-enabled fraud defence
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 and UBS complete blockchain pilot for tokenised fund transactions
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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