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Tag: Swift


Channels

Swift can facilitate tokenised asset transfers between different blockchains, new experiments confirm

September 4, 2023

Via: FinTech Futures

The experiments sought to overcome the challenges of interoperability faced by investors and financial institutions trading on different blockchains with varying liquidity profiles and functions. This group have previously needed to build and instate connections between blockchains, but the experiments […]


Channels

The future of financial services depends on global connectivity

February 13, 2023

Via: FinTech Futures

At the same time, the headwinds of change have also served as a catalyst for new forms of money to come to the fore – the number of cryptocurrencies tracked by CoinMarketCap reached the 22,000 mark in early December. The […]


Capital and Risk, Liquidity

Russian Ruble Rate (USDRUB) Slumps, Russian Equities Hit Hard on SWIFT Expulsion

February 28, 2022

Via: DailyFX

The Bank of Russian more than doubled its bank rate earlier today to 20%, from 9.5%, as the central bank stepped in to try and prevent a currency crisis after the US and the West imposed stringent sanctions on the […]


Channels

Six global banks endorse Swift’s new platform for international payments flows

June 30, 2021

Via: FinTech Futures

Bank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have all confirmed they’re making preparations to adopt the platform. Swift has recently rolled out a new roadmap for the platform, claiming it will allow banks “to […]


Channels

Swift teams with TCH to drive instant payments in US

August 16, 2017

Via: Banking Technology

The global financial messaging provider says it will provide US institutions with a gateway to The Clearing House’s (TCH) real-time payments (RTP) platform. And as instant payments become more ubiquitous in the US, Swift says it will provide an interface to manage […]


Channels

Swift unveils “first ever” cross-border payments tracker

May 23, 2017

Via: Banking Technology

Corporate treasurers have a moment to treasure as Swift has unveiled its new cross-border payments “Tracker” for real-time tracing. Swift says Tracker is the “cornerstone” of its global payments innovation (gpi) initiative – which went live in February – with […]


Capital and Risk, Operational

Swift calling time on cybercrime with new payment controls

April 12, 2017

Via: Banking Technology

Swift has unveiled a new real-time payment controls service to add to its customers’ existing fraud controls. The new fraud and cybercrime prevention service will enable its customers to screen their payment messages according to their own chosen parameters, “enabling […]


Regulations

Swift bans UN-blacklisted North Korean banks

March 9, 2017

Via: Banking Technology

Swift has cut off three North Korean banks from its messaging system under United Nations (UN) sanctions, after Belgium says it would no longer give authorisation for such transactions. According to Reuters, North Korea’s “intensifying provocations”, such as missile launches, […]


Capital and Risk, Operational

SWIFT Official Warns Banks of Escalating, More Sophisticated Cyber Threats

December 13, 2016

Via: Insurance Journal

Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a […]


Capital and Risk, Operational

Cyber challenge can be met, says Swift

September 27, 2016

Via: Banking Technology

Swift has committed to help its members combat the cyber threat “in challenging times”, delegates heard during yesterday’s opening plenary session. Security will be a feature every day of the conference because “the cyber threat is here to stay”, said […]


Capital and Risk, Operational

Swift slow on strong security say execs

August 17, 2016

Via: Banking Technology

Current and former executives and managers of Swift, say for years the organisation suspected there were weak points in the way smaller banks used its messaging terminals – but did not address the issues, according to Reuters. In a lengthy […]


Capital and Risk, Channels, Operational

NY Fed steps up monitoring of Swift transactions

June 24, 2016

Via: Finextra

It is important to note that the recent incident with the Bangladesh Bank was not caused by a breach or compromise of the New York Fed’s systems. Regardless, the New York Fed has and is taking immediate steps to help […]


Capital and Risk, Operational

Swift quick to dismiss Bangladesh’s allegations over cyber fraud scandal

May 12, 2016

Via: Banking Technology

A few months ago, hackers stole more than $100 million from the country’s foreign currency reserves. In the ensuing furore, the head of Bangladesh’s central bank, Atiur Rahman, resigned; and Bangladesh’s government publicly blamed the Federal Reserve Bank of New […]


Channels

Swift and China’s CIPS partner for cross-border payments

March 30, 2016

Via: Banking Technology

Swift has signed a memorandum of understanding (MoU) with China International Payment Service (CIPS Co.) to develop China’s cross-border payments infrastructure. The agreement sets out plans to use Swift to connect China’s Cross-border Interbank Payment System (CIPS) with its global […]