Payments News

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Companies

SWIFT and Symbiont Announce Corporate Data Blockchain Pilot

“The Society for Worldwide Interbank Financial Telecommunication (SWIFT) disclosed on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain technology.  Vanguard, Citigroup, American Century Investments and Northern Trust are among the companies participating in the initiative. According to the announcement, the pilot project “could help providers distribute data in […]
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Companies

SWIFT and Symbiont Anounce Corporate Data Blockchain Pilot

“The Society for Worldwide Interbank Financial Telecommunication (SWIFT) disclosed on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain technology.  Vanguard, Citigroup, American Century Investments, and Northern Trust are among the companies participating in the initiative. According to the announcement, the pilot project “could help providers distribute data in […]
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Companies

Predictive Data Intelligence Removes Hurdles to Instant Cross-Border Transactions Over SWIFT

“As part of its ambitious strategy for instant and frictionless transactions, SWIFT today announces a new capability that uses its global intelligence on past cross-border flows to predict potential problems before new international payments are sent. The new service analyses previous flows on the SWIFT network to identify accounts that have been credited successfully and […]
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Companies

SWIFT Applies Predictive Analytics to Reduce Processing Errors in Cross-Border Transactions

“SWIFT has announced a service that applies predictive analytics to cross-border payments data to pre-empt potential errors before a payment is executed.This solution analyses previous payments transactions conducted over the SWIFT network, on an aggregated and anonymised basis, to identify potential errors in payee details and other trade information that may cause the payment to […]
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Companies

The Biggest Change to Our Financial System in 50 Years is Happening in November 2022

“International Payments are moving to the blockchain (ISO 20022): Many cryptocurrency investors are looking to reap massive returns as the 50-year-old international payments system moves onto the blockchain beginning in November 2022. This is part of what is known as ISO 20022, a single standardization approach to be used by all financial standards initiatives. The […]
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Companies

SWIFT Turns Focus to Digital Assets in 2022 Hackathon

“Global payment giant SWIFT determined its 2022 hackathon theme as “Digital assets: exploring interoperability and ownership” as it hopes to bring the brightest of the industry together to collaborate and innovate on digital assets. The company acknowledged the significance of digital assets for the future of finance by stating: “Digital assets are a key topic on the […]
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Companies

Swift: Shaking Up the Cross-Border Payment Experience

“International payments are fundamental to global trade and business as we know it today. Without an efficient cross-border transfer system, businesses and their banking partners stand to lose significant capital. Yet for decades, the day-to-day challenges of managing cross-border payments have plagued us. Delays, hidden fees, failed transfers, limited access and a lack of transparency […]
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Companies

ISO 20022: Full of Promise But Treasurers Remain Wary

“Global payment has been transformed for the better over the last decade and while champions of the new payment messaging standard ISO 20022 believe it will deliver it even more profound benefits for the industry over the next ten years, corporate treasurers are more circumspect. At a recent conference Ross Jones, head of global payments at Barclays, […]
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Companies

Swift: Case Management: Simpler Payment Investigations For All

“We’ve [Swift] extended our Case Management product suite beyond just gpi-enabled banks. That means that everyone in our community can now benefit from our Stop and Recall and Case Resolution services. Within the world of payments, things don’t always go to plan. Whether that’s an incorrect account number that needs to be repaired or a […]
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