Tagged: swift

February 26, 2022 @ 5:02 pm By JD Alois  |  

The Society for Worldwide Interbank Financial Telecommunication or SWIFT, is in the news quite a bit as of late as discussions are ongoing as to whether Russia should be disconnected from the platform following its unprovoked invasion of Ukraine and ongoing war terrorizing the country…. Read More

December 23, 2021 @ 10:43 am By Omar Faridi  |  

Working with Clearstream, Northern Trust, SETL and others, SWIFT plans experiments in Q1 2022 in order to “explore how it can support interoperability in the development of the tokenized asset market.” Relative to digital currencies and stablecoins, the current market cap of tokenized assets is… Read More

October 10, 2021 @ 7:04 pm By Omar Faridi  |  

UniCredit and J.P. Morgan (NYSE: JPM) have teamed up for the SWIFT Go project – a transformative new service that “enables small businesses and consumers to send fast, highly secure, and competitively priced low-value cross-border payments anywhere in the world.” As mentioned in the announcement:… Read More

September 14, 2021 @ 11:51 am By Omar Faridi  |  

DBS (SGX:D05) has introduced real-time online tracking of cross-border collections for companies in India through a partnership with SWIFT Global Payments Innovation (gpi). DBS is reportedly first bank in India and the Asia-Pacific region to provide this service to customers, which should benefit around 4,000… Read More

September 14, 2021 @ 11:23 am By Omar Faridi  |  

MonetaGo, a Fintech-focused services provider, reveals that it has created a platform to address financing fraud in the trade finance sector on an international level. The trade finance industry has been impacted by duplicate financing fraud. In these types of cases, companies can acquire financing… Read More

July 29, 2021 @ 2:01 am By Omar Faridi  |  

SWIFT reveals that it has launched SWIFT Go, a service that enables small businesses and consumers to send “fast, predictable, highly secure, and competitively priced low-value” cross-border payments across the globe. Payments may be sent directly from users’ bank accounts. Seven international banking institutions, which… Read More

July 28, 2021 @ 1:19 pm By Tony Zerucha  |  

The recent news that Swift is launching Swift Go, a low-value, cross-border payment may not be as monumental as it seems, the founder of global B2B payment provider VertoFX believes. In an announcement yesterday, Swift said the new service would enable financial institutions to offer… Read More

July 14, 2021 @ 8:04 am By Omar Faridi  |  

Norway’s software firm Commercial Banking Applications (CBA) reveals that it has released the latest annual version of its IBAS GBF – Global Banking Factory software to all clients. Notably,  the release has come more than three months ahead of schedule, which should allow for more… Read More

June 3, 2021 @ 7:56 am By Samantha Hurst  |  

  India-based banking group ICICI Bank announced on Wednesday it has teamed up with SWIFT to offer a facility that helps overseas partner banks to send instant remittances on behalf of their customers to the beneficiary in India. ICICI Bank claims this makes it the first… Read More

May 9, 2021 @ 2:34 pm By Omar Faridi  |  

Earlier this week, the Central Bank of the United Arab Emirates (UAE) revealed that it had been working cooperatively with SWIFT, an international provider of secure bank-to-bank messaging services. SWIFT and the UAE reserve bank are reportedly working an initiative that will improve the speed… Read More

February 26, 2021 @ 5:49 pm By Omar Faridi  |  

London-headquartered SETL, a settlement and payments infrastructure provider, has reportedly hired Marjan Delatinne to serve on its executive management team as the company’s Head of Payments. Marjan will be responsible for further expanding SETL’s payments business, and also its market infrastructure and asset management products…. Read More

February 7, 2021 @ 11:36 am By Xu Gao  |  

SWIFT and the People’s Bank of China Digital Currency Research Institute Establish a Joint Venture Public records show that SWIFT has recently established a Financial Gateway Information Service Co., Ltd. in China with the People’s Bank of China Clearing Center and the People’s Bank of… Read More

June 8, 2020 @ 9:30 pm By Omar Faridi  |  

Financial service providers and regulators are increasingly focusing on enabling and supporting instant payments, according to Juniper Research. The researchers note that the EU’s Single Euro Payments Area (SEPA) has “brought down settlement times significantly,” with the SEPA Instant Credit Transfer Scheme helping to reduce… Read More

April 24, 2020 @ 8:49 am By Omar Faridi  |  

Fintech firm Currencycloud has introduced a new API that offers SWIFT GPI tracking of international payments. Previously, the only entities providing cross-border transaction tracking services were banking institutions. Currencycloud aims to enter this market, and plans to make payment tracking as straightforward as tracking packages…. Read More

February 26, 2020 @ 1:25 pm By Omar Faridi  |  

Tech infrastructure developer TriOptima, a company that helps reduce costs while also lowering risk in over-the-counter (OTC) derivatives markets, is expanding its triResolve margin collateral management service. The extension will reportedly support automated SWIFT payments.  The new automated settlement service will provide instant connectivity to… Read More

February 19, 2020 @ 8:20 am By Omar Faridi  |  

Major bank-to-bank messaging system Swift processed $40 trillion in messaging transactions back in 2018. Significantly, Swift handled $77 trillion in international payments messages via the gpi platform last year, which indicates that the demand for the program is becoming even more firmly established in the… Read More

November 20, 2019 @ 1:00 am By JD Alois  |  

Wethaq Capital has announced that it has issued the first pilot Sukuk on its securities market platform for the Islamic capital markets under the supervision of the Dubai Financial Services Authority (DFSA). Wethaq is operating under an innovation testing license issued by the DFSA. Mohammed… Read More

September 11, 2019 @ 8:02 am By Cali Haan  |  

A representative from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) told an audience at a breakfast briefing in London Monday that cryptocurrency networks cannot outperform conventional payment systems and currencies: “They go down in value like a yoyo, they’re useless and unstable. And even if… Read More

August 7, 2019 @ 4:03 am By Cali Haan  |  

Japan financial authorities are building a regulated global network for cryptocurrency transfers and trades similar to SWIFT, an anonymous source from the Japanese governments has told Reuters. The system will be developed in cooperation with other countries sand should launch within a few years. Reuters… Read More

July 23, 2019 @ 2:25 am By Cali Haan  |  

SWIFT, the company behind the world’s largest electronic payments system, has executed cross-border payments between 7 corresponding countries -Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand- and Singapore, in less than 25 seconds. The trial integrated SWIFT’s gpi Instant network and Singapore’s domestic instant… Read More