All articles by : Heather McKenzieRSS

Payments: where have all the correspondents gone?

Chain

At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.

Payments: Australia gives Swift instant results

Australia and Europe flag

Off the back of its involvement in Australia’s New Payments Platform (NPP), Swift has entered the instant payments market in Europe, with plans to launch a gateway solution in November 2018. The solution will enable instant payments to be made over the Swift network using a single gateway to connect to multiple instant payments systems across Europe.

Sibos 2017: entertainment guide – return to Toronto

Toronto, home of Sibos 2017

Swift’s annual event, Sibos, was last held in Toronto in 2011, so many delegates will already have explored the city and know what’s in store. But for those who have yet to visit, read on.

Screen scraping: in or out?

Regulation, regulation and more regulation

Amid last month’s extensive ransomware attack, made possible after cyber criminals stole hacking tools created by the US National Security Agency, the European Banking Federation (EBF) again urged the European Commission (EC) not to dismiss recommendations about screen scraping.

Payments: correspondent banking faces its future

Anders la Cour, Saxo Payments

In an increasingly globalised economy, payments have struggled to keep up and pressure is mounting on the traditional correspondent banking model.

Payments: how the West will be copying the East

Hello, Marco Polo!

Payments industry practitioners in the European Union are understandably obsessed with the implications of the revised Payment Services Directive (PSD2). This was evident at the recent European Payments Summit, held in the Netherlands, where PSD2 dominated many of the discussions.

Payments: looking down the regulatory pipeline

Regulation, regulation and more regulation

In the immediate aftermath of the 2007/8 financial crisis, measures to promote better conduct and improve customer protection and the resilience of the financial system dominated the regulatory agenda. More recently, regulators in many countries have added competition and innovation objectives to their agenda.

Trade finance and blockchain: the right time

Trade finance and blockchain

Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.

Fintechs making strides in PSD2

Fintechs making strides

In November last year, German fintech firm figo completed a financing round that totalled €6.8 million. Figo has developed a banking application programming interface (API) and various products and services related to the Payment Services Directive 2 (PSD2). It is just one of the many fintech firms that are poised to grab the considerable opportunities that PSD2 opens.

Payments and blockchain: Pilotville

Blockchain and payments – Piltoville

The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.

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