PYMNTS-MonitorEdge-May-2024

SWIFT

The Society for Worldwide Interbank Financial Telecommunication, legally S.W.I.F.T. SCRL, provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

Source: en.wikipedia.org

Swift Tokenized Transaction Tests Aim to Bridge ‘Digital Islands’
Swift Tokenized Transaction Tests Aim to Bridge ‘Digital Islands’
October 03, 2024  |  Digital Payments

Swift wants to let banks test tokenized transactions on its global messaging network. Beginning next year, financial institutions (FIs) will be able to carry out...

READ MORE >
TerraPay Enables Cross-Border Payments to 2.1 Billion Mobile Wallets
TerraPay Enables Cross-Border Payments to 2.1 Billion Mobile Wallets
July 23, 2024  |  Mobile Wallets

TerraPay says financial institutions can now send money to mobile wallets via the Swift system. The announcement Tuesday (July 23) by the money movement company applies to 2.1...

READ MORE >
European Central Bank: Swift Outage Affected Real-Time Gross Settlement System
European Central Bank: Swift Outage Affected Real-Time Gross Settlement System
July 18, 2024  |  Banking

The outage at Swift that affected the Bank of England also impacted the European Central Bank. The outage, which lasted for several hours on Thursday...

READ MORE >
Bank of England: CHAPS Payment System Service Restored After Outage
Bank of England: CHAPS Payment System Service Restored After Outage
July 18, 2024  |  Payment Methods

The Bank of England said Thursday (July 18) that a global payments issue that was affecting CHAPS, the United Kingdom’s high-value payment system, is now resolved. “We...

READ MORE >
Swift Turns to AI to Battle Cross-Border Payment Fraud
Swift Turns to AI to Battle Cross-Border Payment Fraud
May 30, 2024  |  Artificial Intelligence

Swift is partnering with a group of banking giants to combat cross-border payment fraud. The global messaging service announced in a news release Thursday (May...

READ MORE >
Swift Unveils New Cross-Border Payment Tracking Solution
Swift Unveils New Cross-Border Payment Tracking Solution
May 21, 2024  |  B2B Payments

Swift has unveiled new ways for financial institutions to streamline cross-border payments for corporate customers. The financial messaging service said it is doing this “by extending...

READ MORE >
Swift and Veritran Team on Improved Cross-Border Payments
Swift and Veritran Team on Improved Cross-Border Payments
April 29, 2024  |  Partnerships

Banking platform Veritran has launched a partnership with financial messaging service Swift. The collaboration, announced Monday (April 29), is designed to help financial institutions to offer customers enhanced and...

READ MORE >
Commerzbank to Integrate PPI Platform, ISO 20022 for X-Border Payments
Commerzbank to Integrate PPI Platform, ISO 20022 for X-Border Payments
April 04, 2024  |  Banking

Commerzbank is updating its payments platform in Germany to execute cross-border payments. The bank will use the Swift network to process cross-border payments and the...

READ MORE >
Swift Finds Connector Can Enable Wide Range of CBDC Transactions
Swift Finds Connector Can Enable Wide Range of CBDC Transactions
March 25, 2024  |  CBDC

Swift has released the results of the second phase of industry-wide sandbox testing on its central bank digital currency (CBDC) interlinking solution. The findings suggest...

READ MORE >