SWIFT

Naval Group, an international technology company specializing in naval defense systems, is among the first to complete a cross-border payment through Swift's global payments innovation early adopter program.

Payments messaging standards provider Swift has received a license to offer connections to all of the Eurosystem market infrastructures for payments, securities settlement and collateral management.

Targeting a 100% gpi ratio for Swift payments among banks will be crucial to enlarging the global reach of payments, writes Marc Recker, global head of institutional market management and cash management for Deutsche Bank.

Seven European banks are testing Swift's Global Payments Innovation real-time cross-border payments through the continent's Target Instant Payment Settlement process.

Advancements are bringing improvements to risk and user experience, but global reach remains a top priority, writes Marc Recker, global head of institutional market management and cash management for Deutsche Bank.

Javier Pérez-Tasso has been named the new CEO of payments messaging standards provider Swift, replacing Gottfried Leibbrandt, who steps down from the post at the end of June.

National Australia Bank is utilizing the end-to-end transaction tracking system through Swift's Global Payments Innovation system, making it the first bank in Australia to allow business customers to track international payments through one click on an account platform.

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments.

If competitors continue to seek ways to one-up the Society for Worldwide Interbank Financial Telecommunications messaging system for cross-border transactions, there is mounting evidence — and numbers — that many banks are comfortable with Swift's modern processes.

JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options?