Associated tags: Commerce, Finance, Professional Services, Fintech, Banking, Cryptocurrency, Swift, Payments, Online shopping, Bank, Community business development corporation, Central bank digital currency, HSBC, Central bank, Payment, API, G20
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MIAMI, April 29, 2024 /PRNewswire/ -- Veritran announces a collaboration with Swift, the world's leading provider of financial messaging services, that will enable financial institutions to offer an enhanced and streamlined cross-border payments experience to their customers.
Key Points:
- MIAMI, April 29, 2024 /PRNewswire/ -- Veritran announces a collaboration with Swift, the world's leading provider of financial messaging services, that will enable financial institutions to offer an enhanced and streamlined cross-border payments experience to their customers.
- Through joining the Swift Partner Programme, Veritran's customers will be able to offer their end users access to a number of Swift solutions that will increase transparency and security in cross-border payments.
- The proposition offers an end-to-end solution that will minimise friction and enhance the customer experience by ensuring quicker and more transparent transactions worldwide.
- This collaboration aims to enhance user loyalty by expanding digital access and improving the efficiency of banking operations and end user experience.
Carriers and Services,
Technology,
Professional Services,
Payments,
Electronic Commerce,
Blockchain,
Security,
Networks,
Internet,
Fintech,
Mobile,
Wireless,
Deutsche Bank,
CLS Group,
Automation,
Savings bank,
Standard Bank,
Growth,
United Overseas Bank,
DVP,
Tokenization,
ANZ,
Westpac,
Risk,
Sumitomo Mitsui Banking Corporation,
Digital asset,
Public policy,
Intesa Sanpaolo,
CBDC,
Community business development corporation,
Commercial,
DTCC,
Standard Chartered,
DLT,
NatWest Group,
Ecosystem,
HSBC,
FX,
CLS,
DBS,
Commercial bank,
Cryptocurrency Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
Key Points:
- Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
- The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
- Swift now plans to extend its solution to support a wider range of emerging digital networks in addition to CBDCs, such as platforms for tokenised deposits.
- This will help to facilitate access and usage of CBDCs in the new complex world of digital payments.
Retrieved on:
Tuesday, September 19, 2023
Technology,
Payments,
Finance,
Fintech,
Banking,
Business,
Professional Services,
Software,
Data Management,
Cloud,
Multimedia,
Organization,
Trust,
Friction,
Small intestinal bacterial overgrowth,
G20,
Commercial,
Financial services,
Online shopping,
Payment card,
Swift,
Visa Key Points:
- View the full release here: https://www.businesswire.com/news/home/20230919421963/en/
Visa and Swift team up to streamline global money movement (Graphic: Business Wire)
As part of the joint effort, announced in Toronto at the annual Sibos conference, Visa will deploy capabilities developed by Swift that can help increase the speed and certainty of cross-border money movement.
- This includes Swift Payment Pre-validation to enable upfront checks of Visa B2B Connect payments, reducing unnecessary delays by catching potential errors before the payment is initiated.
- By working with Swift, Visa will help enhance our financial institution clients’ offerings to their corporate customers.
- Built upon Visa's extensive global network and fortified by advanced security technology, Visa B2B Connect empowers businesses to seamlessly authenticate and manage cross-border B2B payments.
Retrieved on:
Monday, September 18, 2023
Professional Services,
Payments,
Technology,
Finance,
Fintech,
Banking,
Payment,
Small intestinal bacterial overgrowth,
G20,
API,
Architecture,
Commission on Sustainable Development,
Friction,
Multimedia,
Movement,
Online shopping,
Bank,
Swift Swift and Wise have announced an innovative collaboration to increase cross-border payment options for financial institutions and their customers, enabling payments sent securely via Swift to complete seamlessly over Wise with end-to-end transparency.
Key Points:
- Swift and Wise have announced an innovative collaboration to increase cross-border payment options for financial institutions and their customers, enabling payments sent securely via Swift to complete seamlessly over Wise with end-to-end transparency.
- View the full release here: https://www.businesswire.com/news/home/20230918579060/en/
Financial institutions seeking to innovate their offerings will be able to route Swift payment messages directly to Wise Platform - Wise’s infrastructure solution for banks and major enterprises — through its latest Correspondent Services solution.
- This will enable their customers to benefit from the speed and convenience of Wise, and the breadth of Swift without needing to implement any major changes to their systems.
- Wise Platform will harness advanced Swift capabilities to power its service, including cloud and API connectivity and Payment Pre-validation and will continue to offer banks all the hallmark features of Swift GPI, including a payment status tracker which Wise Platform will update to ensure end-to-end visibility across both networks.
Retrieved on:
Monday, September 18, 2023
Complementors,
JBS USA,
Workflow,
Professional,
API,
Broadridge Financial Solutions,
Treasury,
Risk,
Transaction,
Knowledge,
NYSE,
Cryptocurrency,
Swift NEW YORK and LONDON, Sept. 18, 2023 /PRNewswire/ -- Extending its strategic commitment to providing fast and efficient access to new service innovations from Swift, global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR) has announced the immediate availability of its connectivity to Swift's API for Transaction Screening Service, and also for Swift's newly launched Securities View service. Using Broadridge's connectivity for these services, financial firms and corporate treasuries will be able to optimize sanctions compliance and transform their oversight and tracking of the securities lifecycle.
Key Points:
- This includes TÜV Rheinland for the Transaction Screening Service, and a prominent European private bank for Securities View.
- Darren Holdstock, Global Head of Complementors at Swift, said: "We are pleased to extend the benefit of our Transaction Screening Service and Securities View solutions to more institutions through connectivity with Broadridge.
- By connecting its customers to Swift's Transaction Screening Service, Broadridge is enabling direct access to a best-in-class, centrally managed service that enables maximum accuracy and efficiency for transaction screening and sanctions list management.
- Broadridge is now supporting customer connectivity to Swift for use of the Securities View service, enabling firms to optimise the workflow of their securities operations.
Retrieved on:
Wednesday, September 13, 2023
Professional Services,
Payments,
Technology,
Finance,
Fintech,
Banking,
Deutsche Bundesbank,
National Bank of Kazakhstan,
Central bank,
Atlantic Council,
Bank of Thailand,
CLS,
CBDC,
National bank,
Digital currency,
Community business development corporation,
GDP,
Reserve Bank,
HKMA,
Reserve Bank of Australia,
G20,
Bank,
Hong Kong Monetary Authority,
Central bank digital currency,
Cryptocurrency,
Swift Swift has entered a new phase of its breakthrough work on Central Bank Digital Currency (CBDC) interoperability, announcing that three central banks are beta testing its innovative solution for interlinking CBDCs, while 30 financial institutions are experimenting with the solution in a new sandbox to explore further use cases.
Key Points:
- Swift has entered a new phase of its breakthrough work on Central Bank Digital Currency (CBDC) interoperability, announcing that three central banks are beta testing its innovative solution for interlinking CBDCs, while 30 financial institutions are experimenting with the solution in a new sandbox to explore further use cases.
- Swift committed to developing a beta version of its CBDC connector solution after a first iteration of sandbox testing, with participants recognising the solution’s ‘clear potential and value’.
- The beta solution has taken its next step, with three central banks and monetary authorities, including the Hong Kong Monetary Authority (HKMA) and the National Bank of Kazakhstan, integrating the solution with their own infrastructure for direct testing.
- Central and commercial bank participants noted that the connector enabled the seamless exchange of CBDCs, even for those built on different platforms.
Retrieved on:
Thursday, August 31, 2023
Professional Services,
Payments,
Technology,
Finance,
Fintech,
Banking,
Central bank,
Central bank digital currency,
Heart,
Growth,
Friction,
Chain-link fencing,
Face,
Digital,
Community business development corporation,
Cryptocurrency,
Swift The findings have potential to remove significant friction slowing the growth of tokenised asset markets and enable them to scale globally as they mature.
Key Points:
- The findings have potential to remove significant friction slowing the growth of tokenised asset markets and enable them to scale globally as they mature.
- The experiments are part of Swift’s wider strategy to ensure secure, global interoperability as new technologies and platforms emerge.
- For tokenisation to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem.
- Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenisation and unlocking its potential.”
Professional Services,
Payments,
Technology,
Finance,
Fintech,
Banking,
Payment,
Financial Stability Board,
G20,
API,
Growth,
Travel,
Community business development corporation,
Movement,
Cryptocurrency,
Mail,
Online shopping,
Swift That’s already well ahead of speed targets set by the Financial Stability Board to achieve one-hour processing for 75% of international payments by 2027.
Key Points:
- That’s already well ahead of speed targets set by the Financial Stability Board to achieve one-hour processing for 75% of international payments by 2027.
- It also challenges misperceptions that payments are often required to travel through chains of intermediary banks to their final destination.
- Swift data shows that 84% of all payments on the network are conducted directly or with a single intermediary.
- Swift already exceeds the G20 target on speed for processing on our own network, and we are well on track towards meeting the other targets.
Banking,
Fintech,
Professional Services,
Finance,
Council,
Central bank,
NatWest,
HSBC,
Deutsche Bundesbank,
Money,
Payment,
DLT,
Standard,
API,
BNP Paribas,
Monetary Authority of Singapore,
Central bank digital currency,
Standard Chartered,
Intesa Sanpaolo,
Risk,
Atlantic Council,
SMBC,
UBS,
Digital,
Royal Bank of Canada,
CBDC,
Research,
Banque du Liban,
Cryptocurrency,
Security (finance),
Online shopping,
Swift,
Community business development corporation Swift today announced further progress on its experimental solution for interlinking Central Bank Digital Currencies (CBDCs), reporting that 18 central and commercial banks found “clear potential and value” in the API-based CBDC connector after a comprehensive review.
Key Points:
- Swift today announced further progress on its experimental solution for interlinking Central Bank Digital Currencies (CBDCs), reporting that 18 central and commercial banks found “clear potential and value” in the API-based CBDC connector after a comprehensive review.
- Interoperability is a key strategic focus for Swift, and a key challenge for the financial industry as digital currencies develop.
- However, most are focusing primarily on domestic usage, which could lead to a fragmented landscape consisting of ‘digital islands’.
- Standard Chartered’s participation in this sandbox underscores our commitment to innovation, and to bringing future-ready capabilities to our clients.”
Retrieved on:
Wednesday, October 5, 2022
Technology,
Blockchain,
Finance,
Banking,
Electronic Commerce,
Accounting,
Asset Management,
Professional Services,
Payments,
Digital Cash Management,
Digital Assets,
Networks,
Internet,
Fintech,
Cryptocurrency,
NatWest,
Cooperative,
DLT,
Virtual currency,
Community business development corporation,
World Economic Forum,
Deutsche Bundesbank,
SETL,
Tokenization,
Wells Fargo,
Quorum,
Standard Chartered,
Central bank,
UBS,
Capgemini,
SMBC,
HSBC,
Citigroup,
Bank of France,
Intesa Sanpaolo,
Central bank digital currency,
Commerce,
Payment,
Cryptocurrency,
Mobile phone,
Corda,
SWIFT SWIFT has successfully shown that Central Bank Digital Currencies (CBDCs) and tokenised assets can move seamlessly on existing financial infrastructure a major milestone towards enabling their smooth integration into the international financial ecosystem.
Key Points:
- SWIFT has successfully shown that Central Bank Digital Currencies (CBDCs) and tokenised assets can move seamlessly on existing financial infrastructure a major milestone towards enabling their smooth integration into the international financial ecosystem.
- Working in collaboration with Citi, Clearstream, Northern Trust, and SETL, its technology partner, SWIFT explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash.
- Tom Zschach, Chief Innovation Officer at SWIFT, said: Digital currencies and tokens have huge potential to shape the way we will all pay and invest in the future.
- Headquartered in Belgium, SWIFTs international governance and oversight reinforces the neutral, global character of its cooperative structure.
