SWIFT

SWIFT to Set Up Wholly Owned Enterprise in Beijing

The Belgium-based financial services provider Society for Worldwide Interbank Financial Telecommunications (SWIFT) signed a memorandum of understanding with the Beijing municipal government to set up a wholly owned enterprise in Beijing, according to a statement by the People’s Bank of China (PBC), China’s central bank, on its official website on W.

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National Bank of Kuwait Rolls Out SWIFT Gpi

Welcome to The Axis, your late look at payments news from around the world. Coverage includes The National Bank of Kuwait’s rollout of SWIFT Global Payments Innovation (gpi) services with the help of ACI Worldwide. In addition, UCPB launched its InstaPay service in The Phillipines, and NoBroker has brought rent payments into its app in […]

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Gpi Makes SWIFT Cross-Border Gains

When it comes to corporate transactions (and, well, payments in general), two inexorable trends include speed and distance. In this case, distance applies to cross-border activity.

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SWIFT Pilot Focused on Reducing Payment Message Errors

SWIFT has announced the launch of a pilot program for an integrated gpi payments service designed to enable the fast identification and elimination of errors in payment messages.

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Instant Payments Gain Ground With SEPA, SWIFT

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. Implementation began last Friday, Nov. 30.

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Blockchain Startup Ripple Aims to Overtake Swift Banking Network

Fintech startup Ripple Labs is banking on blockchain technology to help it overtake the decades old Swift network behind the majority of the world’s financial and security transfers, according to its chief executive Brad Garlinghouse.

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SWIFT Payment System Denies Integration With Rippleā€™s Solutions

The SWIFT interbank payment network announced that it is not, in fact, being taken over by , nor is it partnering with xRapid, reports Finance Magnates. An earlier rumor held that an update in the SWIFT network would make Ripples transfer products available to thousands of banking customers.

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SWIFT’s Instant Cross-border Gpi Payments Test Touted as a Success

Financial messaging service SWIFT has announced the successful testing of its new instant cross-border payments proof of concept, alongside banks from Australia, China, Singapore, and Thailand.

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Swift Releases Payments Analytics Tool

Financial messaging network Swift is to give member banks deeper insights into their cross-border payment flows with the release of a ‘Business Intelligence gpi Observer Analytics’ tool.

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SWIFT Teams Up With Banks to Bring Cross-border Payments Service to Malaysia

SWIFT has announced that it will work with five Malaysian banks to bring its global payments innovation (gpi) initiative to Malaysia in coming months. The banks are Maybank, Hong Leong Bank, CIMB Bank Berhad, Bank Islam, and Bank Rakyat, which will implement the gpi service in the months to come.

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SWIFT Announces Pre-Validation Service for gpi Payments

SWIFT is gearing up to roll out a pre-validation service that will enable customers to pinpoint and resolve errors that delay payment messages before they are sent. In a press release, SWIFT said the new service will also enable banks to give customers upfront fee pricing.

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First Fintech Goes Live on Swift’s Cross-border Payments Scheme

UK-based Ebury has become the first fintech to be a full and active participant on gpi, Swift’s cross-border payments scheme. The move has been hailed as an important milestone by Swift which is looking to encourage new non-bank entrants to join the traditional banks already on the service.

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