13 Results
Akhil Rao Director at Nth Exception
In today’s interconnected economy, efficient cross-border payments are crucial for businesses and individuals alike. Yet, traditional payment methods often face challenges such as delays, high costs, and limited transparency. Fortunately, recent innovations in financial technology, notably the adoption of the ISO 20022 messaging standard and machi...
14 May 2024 /payments /retail SWIFT Matters
In today's rapidly evolving financial landscape, where technology and connectivity play a pivotal role, the need for standardized and efficient communication within the industry has become more crucial than ever. Enter ISO 20022, an international standard for financial messaging that is revolutionizing the way institutions exchange information and...
29 May 2023 /payments /retail
Standards are a cornerstone of the financial industry. For over 40 years the SWIFT MT standard has enabled industry automation, reducing the cost and risk of cross-border business, and enabling the development of the correspondent banking system on which world trade depends. Today, around 28 million MT messages are exchanged on the SWIFT network e...
16 August 2022 /payments /regulation SWIFT Matters
As a common business language for the financial marketplace, ISO 20022 is firmly positioned as a unifier for new and contrasting FinTech innovations, such as Distributed Ledger Technology (DLT), Smart Contract (SC), and Application Programming Interfaces (APIs). Considered the de facto, universal business language for financial industry initiative...
06 September 2021 /payments /retail The Payments Business
Major transformations in payments and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-b...
06 September 2021 /payments Payments strategies 2015-2020-2030
Cross-border payments are more than moving money from one country to another. It’s also about making payments safe, efficient, and compliant with regulations, and the data about the payment that must be transferred as well. For this to take place, a number of checks and processes need to be ensured before the payment is made, while it is moving th...
23 March 2021 /payments Banking Strategy, Digital and Transformation
Cross-border payments are becoming faster, but friction remains, slowing some payments down. Will the industry ever achieve 100% STP (straight-through-processing) rates in cross-border payments? The digital transformation of monetary services has accelerated the pace of cross-border payments; in many cases payments are settled almost instantly. Bu...
09 February 2021 /payments /retail
Any TMS morning starts with updating and reconciling the cash positions across accounts by a daily upload of electronic bank statements (MT 940, 942..). This financial reconciliation focuses on balances and net credit and debit movements across the accounts and helps treasurers build an image of liquidity and dealing capital and other requirements...
26 January 2021 /payments /retail Banking Strategy, Digital and Transformation
Historically, much of the data linked to payments has been underused (or not at all used) — in large part because processing systems were not set up to extract and operationalize this data. AML and Sanctions screening have faced much of heat with the limitations. Can the new standard fix it? Sanctions screening is a control used in the detection,...
18 January 2021 /payments /retail Banking Strategy, Digital and Transformation
A key advantage of correspondent banking as a global payment system is that it can reach almost any account in the world. Customer experience has also improved in recent years, with payments becoming faster and more transparent thanks to SWIFT gpi, and it is set to continue with their new offerings. However, other improvements are required to keep...
11 January 2021 /payments /retail Banking Strategy, Digital and Transformation
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