Global payments innovation initiative by SWIFT to dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments. The initiative will initially focus on a business-to-business payments service supported by participating banks in early 2016. The new service will help corporates to receive an enhanced payments service directly from their banks, with the following key features: Same day use of funds, Transparency and predictability of fees, End-to-end payments tracking Transfer of rich payment information. Read more.
December 11, 2015