Sibos

1777 articles tagged with this keyword

/crime

Can Financial Institutions Keep Up with the $33 Billion Fraud Surge?

Reflecting on insights from last month’s Visa Payments Forum, Tareq Muhmood, SVP, Value Added Services, Europe, Visa, addresses the dramatic rise in global fraud—from $800 million in the early '90s to $33 billion in 2023. As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through artificial intelligence, this interview underscores the urgency for banks and fintechs to evolve their security strategies. As fraud tactics continue to evolve, partnerships and continuous innovation are now critical for staying ahead of threats while maintaining seamless payment experiences.

/regulation

GSS works with Swift to streamline sanctions screening

Global Screening Services (GSS), a leading RegTech pioneer, today announced an extended partnership with Swift that will enable financial institutions around the world to access its unique end­ to-end sanctions screening platform over the same infrastructure that they already trust to move money between more than 200 countries and four billion accounts globally.

/Sibos

Hamish Monk Senior Reporter at Finextra

Making embedded cross-border payments in Africa work

/payments

AutoRek joins Swift partner programme

AutoRek, a leading automated financial controls platform, is delighted to announce that it has joined the Swift Partner Programme, to improve and simplify the consolidation and reconciliation of financial data.

/Sibos

Renate Prinz Partner at McDermott Will & Emery LLP

DORA takes effect: Digital resilience and cybersecurity in the EU

/sustainable

Can Every Product Be Climate Positive?

Richard Peers, founder of Responsible Risk, interviews Erik Stadigh, Co-Founder and CEO of Lune, winner of the EBAday 2024 FinTech Zone award, ahead of Sustainable Finance.Live 2024. They explore how corporate sustainability can be simplified by automating carbon emissions reporting through APIs and hosted solutions. With the goal of making every product and service climate-positive by integrating granular emissions calculations and carbon projects into bank and fintech offerings, we ask: can businesses truly decarbonise efficiently without relying on costly consultants or new tools? As greener decisions are made with minimal effort, the future may see every company becoming a climate company through seamless integration of climate data.

/crypto

Swift preps live digital asset trials

Banks around the world will next year start live trials of digital asset and currency transactions over the Swift network.

/Sibos

The Global Fight Against Trade-Based Financial Crime

300 downloads

/payments

Swift to develop concrete plans for CBDC and tokenised asset exchange

Global banking co-operative Swift is moving forward with plans to offer member banks access to emerging digital asset classes and currencies over its network, covering a range of use cases in payments, securities, FX, trade and beyond

/payments

Technology, the Catalyst for Banks to Evolve into Competitors

FinextraTV and Gabriela Giannattasio, VP of EMEA, Veritran, tap into how banks should be prioritising streamlining user experiences, enhancing seamless payment systems, making them secure, and ensuring compliance with upcoming regulations all at the same time. In this new age of financial polyamory, individuals and businesses are no longer married to just one bank, and banks should view collaboration as the silver bullet solution to these challenges and actively leverage available opportunities to connect with technology partners.

/payments

Japanese banks pilot stablecoin-based cross-border payments

Japanese banks MUFG, SMBC and Mizuho are participating in a pilot using stablecoins and the Swift network for cross-border payments.

/payments

How the Commercial Payments Market is Evolving

At EBAday 2024, Wim Grosemans, Global Head of Product Management Payments and Receivables, BNP Paribas, sets the scene around how the commercial payments market is evolving. From an infrastructure perspective, the interview details how banks should make important moves to implement instant payments, ISO 20022 and cross border payments as regulation dictates, so there is a lot to do on the plumbing within a financial institution for tomorrow's payments. A staggering amount of digitisation is also incoming, which will result in digital payments soaring and with this, an ecommerce boom for B2C customers and B2B customers.

/payments

TerraPay enables financial institutions to send international account-to-wallet payments using Swift

TerraPay, a global money movement company, today announces that financial institutions can send money directly to more than 2.1 billion mobile wallets around the world using their existing Swift connectivity, enhancing the cross-border payments experience for businesses and consumers.

/payments

Swift bids to connects VoP schemes across Europe

Bank-to-bank payment messaging network Swift is working to facilitate interoperability of Verifcation of Payee schemes across Europe as new research shows that 83% of SMEs across France, Germany, Italy and Spain rank upfront beneficiary checks as important to them in trading across borders.

/payments

BVNK introduces US dollar payments via Swift

BVNK, the stablecoin payments provider, announced today that it has enabled Swift payments on its platform, so businesses can move easily between US dollars, Euros and stablecoins like USDT, USDC and PYUSD.

/security

HSBC launches payment pre-validation API for business customers

HSBC has introduced a new Payment Pre-Validation API (Application Programming Interface) to help business customers make payments with greater security, ease and confidence, by offering enhanced capabilities to verify payee details prior to initiating payments, making them faster and more reliable.

/ai

Swift to pilot AI in fight against fraud

Banking co-operative Swift is working with global banks on AI pilots to tackle cross-border payments fraud.

/payments

Swift opens API channel for ISO 20022 corporate payment tracking

Swift is working with 25 leading cash management banks and 20 corporates to develop a white labelled transaction tracking service for ISO 20022 messages across the entire payment chain.

/payments

Veritran joins Swift partner programme

Veritran today announces a collaboration with Swift, the world’s leading provider of financial messaging services, that will enable financial institutions to offer an enhanced and streamlined cross-border payments experience to their customers.