SWIFT

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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Connecting Asia With SWIFT-er Payments

Banks and financial institutions across Asia are adopting SWIFT’s global payments innovation (gpi), a new standard for cross-border payments that promises faster transactions and better transparency. SWIFT helps facilitate large payments transactions, but up until now, required up to five days to complete.

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Swift Opens Up Payments Tracking to Corporates: “The Beginning of a Long Journey”

Corporates will soon be able to track their payments in real time as part of Swift’s global payments innovation (gpi) initiative – a function of the system that was previously only available to them through their banks.

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SWIFT’s Gpi Driving Real-time Payments Tracking Into Corporate Treasury Systems

SWIFT, along with a number of corporates and banks, is to start testing an enhanced standard which will allow corporate treasurers to initiate and track gpi payments to and from multiple banks and integrate gpi flows in ERP and Treasury Management Systems.

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