Swift

EBA Clearing, EURO1, ISO, Swift, T2S

SWIFT announced initiation of the development phase with EBA Clearing to migrate the large-value payment system EURO1 to the ISO 20022 standard. The two organizations will work toward a November 2021…

3 years after Bangladesh cyberattack, SWIFT considers evolving threat

April 11, 2019

cybersecurity, Swift

SWIFT published a new cyber report, Three years on from Bangladesh: tackling the adversaries, providing new insights into the evolving nature of the cyber threats facing the global financial community.…

Fintech weekly deals and partnerships round-up

March 24, 2019

BCBS IOSCO, Broadridge, Cassini Systems, gpi, Initial Margin, SmartStream, Swift, uncleared margin

BlackRock to acquire alternative investments software provider eFront BlackRock announced that it’s agreed to acquire eFront, an end-to-end alternative investment management software and solutions provider from private equity firm Bridgepoint…

Fintech weekly deals and partnerships roundup

Medici Ventures takes minority stake in blockchain banking platform Overstock announced its wholly-owned blockchain subsidiary, Medici Ventures, has purchased a 5.1% stake in Bankorus, a blockchain banking platform focused on…

Bloomberg: Paris fintech summit shows banking disruption in spotlight, crypto sidelined

February 3, 2019

blockchain, Ripple, Swift

Crypto fever has truly broken: that was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe where 3,000…

SWIFT to open gpi payment standard to e-commerce and DLT platforms

January 31, 2019

blockchain, Corda, DLT, gpi, R3, Swift

SWIFT announced a proof-of-concept (PoC) to trial, global payments innovation (gpi) Link, a gateway to interlink e-commerce and trading platforms. SWIFT’s PoC will include bank and corporate participants. A prototype…

SWIFT and BAE report on how cyber attackers could hit financial markets

November 19, 2018

BAE Systems, cybersecurity, Swift

The cyber threats faced by key financial markets across the world have been detailed by a new report published today by BAE Systems and SWIFT. The study examines the different…

SIBOS 2018: highlights from the conference

October 22, 2018

DTCC, SIBOS, Swift

It’s SIBOS week in Sydney, Australia, where the financial services industry debates and collaborates in the areas of payments, securities, cash management and trade. We’re keeping track of announcements from…

SWIFT touts success for real-time global payments trials

October 21, 2018

gpi, Payments, Swift

SWIFT announces successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. The trial demonstrated that by enabling gpi (global…

SWIFT creates financial sector API blueprint

October 16, 2018

APIs, PSD2, Swift

SWIFT published a blueprint for common API standards following collaboration with European banking standards bodies, STET and Berlin Group NextGenPSD2, which together represent many of the region’s banks and payment…

SWIFT hooks up first fintech to new gpi payments standard

August 31, 2018

Ebury, Payments, Swift

Ebury has become the first fintech to go live with SWIFT’s global payments innovation (gpi), a new payments standard. The cross-border payments firm joins a host of traditional banks and corporates…

Sanction backfire: a non-US payment system would change the balance of financial power

August 29, 2018

Josh Galper

Europe, Regulatory, US

Germany, Payments, sanctions, Swift, topstory

The idea has been floated that Europe should create its own payments system so that European firms doing business with Iran could separate themselves from the US payment system. The…

Open source BIC-to-LEI launched for multiple ID platform interoperability

February 8, 2018

GLEIF, LEIs, Swift

The Global Legal Entity Identifier Foundation (GLEIF) has published the first monthly relationship file that matches a Business Identifier Code (BIC) assigned to an organization against its Legal Entity Identifier…

SWIFT and CSDs to advance blockchain tech for post-trade

January 16, 2018

News and Notes, News and Notes – Fintech

blockchain, CSDs, DLT, Swift

SWIFT and seven central securities depositories (CSDs) are working together to demonstrate how distributed ledger technology could be implemented in post-trade scenarios, such as corporate actions processing, including voting and…

Blockchain news: R3 gains new support for its standards; Visa and true digital securities could signal real disruption to SWIFT

September 8, 2016

Richard Stinchfield

Blockchain, Market infrastructure, Technology

blockchain, Swift, technology, topstory

If you can’t beat ’em, join ’em. According to recent reports in the blockchain press, Visa is joining the ranks of “disruptors”, following the trend of potentially threatened intermediaries proactively embracing…

SWIFT: Industry collaboration is necessary for blockchain success

May 10, 2016

Brussels, 9 May 2016 – New research published by the SWIFT Institute investigates the practical application of blockchain (or mutual distributed ledger) technologies in securities markets. The paper, entitled ‘The…

CloudMargin integrates with SWIFT

January 27, 2016

26th January 2016 – CloudMargin Becomes First Cloud-Based Collateral Management Solution to Join the SWIFT Network CloudMargin becomes the only cloud-based collateral management technology provider to offer direct, out-of-the box connectivity…

LCH.Clearnet leverages SWIFT for standardised margin call messages

October 13, 2015

First CCP to use standardised MX messages over SWIFT to notify clearing members of margin calls Adoption of ISO 20022 standard brings increased operational efficiency to members Targeting go-live in…

Industry agrees to global guidelines for intraday liquidity reporting

October 9, 2015

Josh Galper

News and Notes

Basel, Liquidity, Swift

Liquidity Management, Regulatory

October 8, 2015 SWIFT announces today that the Payments Market Practice Group has endorsed the use of its messages for intraday liquidity reporting as required by the Basel Committee on…

From Wired Magazine: “Overstock CEO Uses Bitcoin Tech to Spill Wall Street Secret”. The secret is sec lending.

It isn’t often we write about articles in Wired Magazine, but this one you have to read. Combine bitcoin, blockchain, the CEO of overstock.com, and securities lending and you get…

SWIFT survey finds only 39% of banks confirm payments in real-time

December 9, 2014

Industry agrees that collaboration is necessary to meet the Basel Committee on Banking Supervision’s intraday liquidity monitoring rules Brussels, 8 December 2014 – New survey from SWIFT reveals that only…

Swift: Intraday liquidity reporting – The case for a pragmatic industry solution

July 25, 2014

Effective management of intraday liquidity has never been more important. The financial crisis highlighted fundamental weaknesses in the liquidity risk management of banks across the globe. This raised concerns among…

Regulation-driven technology key theme at Sibos – AST

September 28, 2011

Josh Galper

Regulations, SIBOS, Swift