Swift - News, Articles & Research

Company announcement/payments

Garanti BBVA becomes first bank to hook up to Swift gpi pre-validation service

BBVA Garanti has become the first bank worldwide to complete integration of the new SWIFT GPI pre-validation service, an international money transfer service developed by SWIFT. Controlled testing of the service is ongoing.

19 August 2020

Company announcement/payments

AscendantFX introduces payment tracking via Swift gpi

AscendantFX Capital announced today that they have become members of the SWIFT network, and more specifically the Global Payment Initiative (gpi).

12 August 2020

Company announcement/payments

BNY Mellon becomes first US bank to offer Swift gpi case resolution service

BNY Mellon has collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. This offering marks another milestone in BNY Mellon’s commitment towards client-centric payment services and leading the path for other global payments innovation (gpi) initiatives.

29 July 2020

News/payments

Capitalising on Eurosystem changes to bolster instant payments

The benefits of implementing a cohesive instant payments system are manifold and well documented. As evidenced by the incoming European Single Market Infrastructure Gateway (ESMIG) and the need to integrate interoperable systems across Europe, the ability to access infrastructure that facilitates instant payments is vital.

03 July 2020

Company announcement/payments

BNP Paribas goes live with Swift gpi for Corporates Pay and Trace

After the successful integration of the SWIFT gpi-related information in its global ebanking channel Connexis Cash earlier this year, BNP Paribas is now extending its gpi capabilities with the launch of the g4C Pay and Trace service.

25 June 2020

News/payments

Outsource and collaborate for streamlined SWIFT gpi migration

SWIFT’s universal confirmation of payment deadline set for November 2020 means that firms have a clear window of opportunity to refine and implement SWIFT’s global payment initiative (gpi) for cross-border payments.

17 June 2020

News/security

How does society perceive the hacker in 2020?

As the methods of cyber criminals evolve, so will their motives. With this in mind, we may see a change in the way society perceives the hacker as they embrace new aims beyond simple financial gain.

15 June 2020

Finextra TV/payments

Driving Payments Modernisation through SWIFT

Jeffrey Edison, Global Solutions Lead, Banking & Shriyanka Hore, Global Product Strategy Payments at Oracle Financial Services talk about how cross-border payments is undergoing a massive transformation globally whilst SWIFT drives a broader payments modernisation strategy. They discuss whether payments modernisation should drive organisational and cultural change alongside a system overhaul and whether banks' appetite for investing in payments modernisation is changing.

10 June 2020

News/payments

Federal Reserve kicks Fedwire’s ISO 20022 can down the road

The Federal Reserve has announced it will not implement Phase 1 of the Fedwire Funds Services migration to ISO 20022 during 2020 or 2021. It confirms that it does not have any other message format changes planned through 2021.

03 June 2020

News/regulation

VÖB, Bundesbank: T2-T2S consolidation delay ‘is likely’

A confidential letter obtained by Finextra Research shows unanimous support for the postponement of the T2-T2S consolidation project by leading banks during the latest Advisory Group on Market Infrastructures for Payments (AMI Pay) meeting where the delay was discussed.

22 May 2020

News/payments

ECB responds to Swift’s blueprint for ISO 20022

Under instruction from the European Central Bank, interbank payments network Swift has drawn up a blueprint designed to mitigate complications borne from its surprise decision to delay the migration to the new ISO 20022 messaging standard.

20 May 2020

News/regulation

ECB steps in over Swift’s ISO 20022 migration delay

Letters obtained by Finextra show an exchange by the ECB and Swift regarding the latter’s responsibility to mitigate risks caused by its decision to delay migration to ISO 20022.

05 May 2020