Melisande Mual
16 Dec 2015 / 5 Min Read
The project, called the Global Payments Innovation Initiative, will focus on business-to-business payments in early 2016. The service aims to help companies strengthen global supplier relationships and improve treasury efficiencies. Companies will be able to receive payments directly from banks along with features such as end-to-end payment tracking, same-day use of funds, fee transparency and predictability, and the transfer of more payment information.
The new service will operate under multilateral service level agreements among the participating banks. It is designed to address customer needs without undermining the banks’ abilities to meet compliance obligations, liquidity and credit risk requirements. Participation will be available to any SWIFT financial institution that adheres to its rules.
SWIFT also plans to use Innotribe, its innovation arm, to engage the fintech community and examine innovations like real-time payment status tracking, the use of peer-to-peer messaging and blockchain technology.
Melisande Mual
16 Dec 2015 / 5 Min Read
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright