SWIFT

The bank consortium is going directly after the business of its former partner Ripple in the middle of their legal battle over an option for digital currency worth $1 billion.

Sir Tim Berners-Lee, creator of the World Wide Web, exhorted developers to think about unintended consequences, saying he felt guilty over the digital divide and the proliferation of fake news.

A San Francisco startup working with Swift plans to launch a network that would tie self-executing contracts to independent data sources.

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

Calling it a first in international payments, the Society for Worldwide Interbank Financial Telecommunication [Swift] is providing a cross-border, real-time payments tracker for banks handling global transactions.

The global messaging network Swift and its fintech challenger, Ripple, have been vying for bankers’ hearts and minds for more than a year. Whoever prevails, their latest moves could bring needed change to how international banking is done.

Bottomline Technologies, which specializes in business payments, is the latest to introduce a fraud-fighting solution for members of the Swift payment network.

Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.

The new controls include transaction-screening parameters users may adjust to their own risk and compliance policies.

The move is noteworthy because Delatinne had led customer engagement for Swift’s global payments innovation initiative, with which Ripple’s cross-border payment system competes.

The certification covers compliance, risk and strategy expertise as the payments industry becomes increasingly digitized and global.

A dozen global transaction banks are now using the Society for Worldwide Interbank Financial Telecommunication's new global payments initiative service to improve cross-border payment delivery.

The initiative pushes open and collaborative development of uses cases for the distributed ledger technology in financial services and payments.

The Society for Worldwide Financial Telecommunication is exploring the potential of distributed ledger technology for banks to provide real-time reconciliation of their databases for accounts they hold in other banks in a foreign currency.

Facing security challenges at its member banks and competition from other tech providers, the Society for Worldwide Interbank Financial Telecommunication [Swift] plans to put its best foot forward in 2017.

In response to a series of cyber bank thefts, Swift has developed new guidance. It's a necessary first step, though banks for now are still left to fend for themselves.

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay."

A group of banks is turning to Swift's anti money laundering tools, with a particular eye on "de-risking."