22 September 2014

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Swift has given a strongly worded response to a European Parliament resolution calling on the EU to consider expelling Russia from the financial messaging network.

Finextra logo

Finextra expands into North America

19 September 2014  |  0

Just as fintech steps from the shadows into the mainstream, Finextra is establishing a local North American editorial presence.

Cross-border payments network Earthport has raised £26.6 million through the placing of 65 million shares with a mix of new and existing institutional investors.

European card issuers stand to lose $8 billion per year from a revenue pool of $60 billion beginning in 2015, as stiffer regulation and caps on interchange fees take their toll, according to a study by the Boston Consulting Group.

Moscow, Russia

UK to press for Russian expulsion from Swift

01 September 2014  |  0

The British government is urging EU nations to expel Russian banks from the Swift financial messaging network, as tensions grow over the escalating crisis in Ukraine.

The European Central Bank has named four key payment systems - Target2, Euro1, Step2-T and Core(Fr) - as "systemically important", and so subject to new regulations.

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