SWIFT

With consumers and merchants alike sharing the need to be paid faster, the case for adopting real-time payments globally has quickly advanced during the COVID-19 pandemic.

Swift's ISO 20022 delays have signaled a pause button. But that's a misplaced notion, says Fiserv's Andrew Foulds.

Firms will need to adjust to ISO 20022 and new SWIFT rules as data protection takes center stage, says says ACI Worldwide's Craig Ramsey.

Payments messaging standards provider Swift has opened its global Know Your Customer registry to all the corporations it connects to following a successful test.

Interoperability has become a top priority in the minds of those advancing faster payments.

Swift and EBA Clearing have started developing the process by which Europe's large-value payment system will migrate to use of the ISO 20022 messaging standard.

Europe's PSD2 doesn't directly impact Hong Kong, but its monetary decision makers support open banking frameworks, sparking a network of banks to support that effort through the help of HSBC and Swift.

Two months after a successful test to connect banks using the Global Payments Innovation service to faster payments rails in Singapore, Swift is launching a new service to connect with other domestic real-time payments systems.

Swift completed a seven-country trial of its cross-border GPI Instant payment service resulting in the successful integration with Singapore’s domestic instant payment network FAST.

Swift is building out its Global Payments Innovation (GPI) service to allow corporations to initiate and track payments across all of their banking partners from a single source.