Swift has unveiled new ways for financial institutions to streamline cross-border payments for corporate customers. The financial messaging service said it is doing this “by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labeled tracking services that can be activated for customers at the...
Banking platform Veritran has launched a partnership with financial messaging service Swift. The collaboration, announced Monday (April 29), is designed to help financial institutions to offer customers enhanced and streamlined cross-border payments. “Collaborations such as this are improving the experience for those sending payments cross-border, while also increasing transparency...
Commerzbank is updating its payments platform in Germany to execute cross-border payments. The bank will use the Swift network to process cross-border payments and the Target 2 or Euro 1 payment systems to process high-value and urgent payments, Commerzbank said in a Thursday (April 4)...
Swift has released the results of the second phase of industry-wide sandbox testing on its central bank digital currency (CBDC) interlinking solution. The findings suggest that Swift’s connector could enable financial institutions to carry out a wide range of transactions using CBDCs and other digital...
July 17, 2023
When it comes to embracing new ways of doing things in payments — adopting standards, fostering new use cases — boring is good. Boring implies there have been no hiccups with the interplay between businesses and financial institutions (FIs). No surprises on the way to building resilient new systems that get the current payment landscape, […]
October 12, 2022
Cross-border B2B transactions — done in real time — are on the cusp of being as simple as domestic real-time payments (RTP). Russ Waterhouse, executive vice president for product development...
October 05, 2022
In a pair of papers today, financial messaging service SWIFT claimed that it has solved two of the thorniest problems digital assets must overcome if they are to revolutionize the...
April 08, 2020
Making cross-border payments work — across currencies and across time zones — is no easy task. The challenges are myriad, marked by (to name just a few) legacy systems; new...
May 30, 2024
Swift is partnering with a group of banking giants to combat cross-border payment fraud. The global messaging service announced in a news release Thursday (May 30) that it is launching a pair of artificial intelligence-based experiments to help its member banks recognize fraud. “Fraud cost the financial industry $485 billion in 2023 alone,” Swift said. […]
May 21, 2024
Swift has unveiled new ways for financial institutions to streamline cross-border payments for corporate customers. The financial messaging service said it is doing this “by extending ISO 20022 across the entire...
April 29, 2024
Banking platform Veritran has launched a partnership with financial messaging service Swift. The collaboration, announced Monday (April 29), is designed to help financial institutions to offer customers enhanced and streamlined cross-border payments. “Collaborations such...
April 04, 2024
Commerzbank is updating its payments platform in Germany to execute cross-border payments. The bank will use the Swift network to process cross-border payments and the Target 2 or Euro 1...
