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AutoRek, an automated financial controls platform based in Scotland, has joined the Swift Partner Program. The move will enhance the consolidation and reconciliation of financial data and provide greater integration between companies’ operations and their third-party data sources. Leveraging its predefined catalog of API connections, AutoRek will consume messages directly from the Swift network, making Read more…
A new collaboration between Veritran and financial messaging services innovator Swift will empower financial institutions to provide an enhanced and streamlined cross-border payments experience for customers. As part of the collaboration, Veritran has joined the Swift Partner Programme, which will give its customers access to a variety of Swift solutions to increase the transparency and Read more…
Global payments platform Nium unveiled a new payments solution. The new solution helps international banks increase the speed and reduce the cost of settling transactions to select U.S. brokerages. Leveraging the tool, financial institutions can save up to 90% in settlement fees. Global payments platform Nium unveiled a new payments solution that will help international Read more…
Three payments powerhouses have partnered this week in a movement toward fast and seamless cross-border payments. France’s EBA Clearing, Belgium’s SWIFT, and the U.S.’s The Clearing House (TCH) are working together to launch Immediate Cross-Border Payments (IXB). IXB is a new initiative that can synchronize settlements in two different, instant payment systems and convert real-time Read more…
PayPal has apparently not taken vacation this summer. After a surge of partnerships, the payments company announced it will acquire Swift Financial, a U.S.-based small business lending platform. Terms of the deal, which is expected to close later this year, were not disclosed. Delaware-based Swift Financial has provided working capital to thousands of small businesses Read more…
With more than 280 companies applying, and 47 companies selected to compete, the Innotribe Startup Challenge is down to the top 15 companies that will move on to the Grand Finale. And six of the companies to advance are Finovate alums. The Innotribe Startup Challenge is part of Sibos, the conference held by SWIFT each Read more…
At Swift’s Innotribe last week, a group of startups pitched their latest fintech innovations to a group of banks, VCs, and tech gurus. The 14 companies, who were selected from a pool of 200 applicants, were given 6 minutes each to pitch the audience. Realty Mogul, P2P Cash, and recently-acquired Good April were among the companies vying Read more…
This week’s edition of Finovate Global showcases fintech innovation in Indonesia. Thought Machine helps modernize Islamic finance Core banking and payments technology company Thought Machine has partnered with BCA Syariah to bring digital, Sharia-compliant financial products and services to its customers. The bank, a subsidiary of Bank Central Asia (BCA), has deployed Thought Machine’s core Read more…
Crypto.com’s new functionality, new partnership, and plans for the new year Recently crowned the king of North American crypto trading, Crypto.com announced this week that it launched a new partnership with payments acceptance provider Ingenico. The partnership will enable users of Ingenico’s platform globally to accept payments in cryptocurrency. Consumers will benefit from earning rewards Read more…
After rumors swirled over the weekend, we now know that it is official: payments processing company Stripe has acquired stablecoin platform Bridge for $1.1 billion. For Stripe, which was valued at $70 billion earlier this year, the Bridge deal marks its largest acquisition since it was founded in 2010. Bridge was founded in 2022 to Read more…
Mastercard unveiled an offering this week that will allow commercial users to make cross-border payments in near-real-time. The payments giant introduced Mastercard Move Commercial Payments today, which facilitates payments 24 hours a day, 365 days a year. Mastercard Move Commercial Payments leverages a multi-rail approach that includes SWIFT, and Mastercard’s proprietary networks to facilitate the Read more…
Back before regtech was cool, a Brooklyn, New York-based company called Alloy was introducing Finovate audiences and others to its technology that enables banks and other financial institutions to build fully-customizable APIs for customer identification and compliance. Even more, the company demonstrated how its graphical rules engine implements compliance rules in a way that actually Read more…