Swift
Swift starts work on pan-European real-time payment connectivity pilot
Messaging infrastructure aims to connect Tips and EBA Clearing’s RT1 system
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
Bank of Russia upgrades interbank loan system
The central bank publishes a clutch of documents on financial technology; says hackers stole $6 million via Swift in a “common scheme”
Australia’s real-time payment system goes live to the public
System built by Swift will process payments in less than a minute and will utilise new PayID technology; Osko is first application launched on new platform
Renminbi struggles to gain prominence on global stage – Swift
Chinese currency usage only accounted for 1.61% of domestic and cross-border payments in December 2017; digitisation may be the key to currency’s success
Swift warns of greater cyber threats as security control deadline nears
Customers have until December 31 to implement 16 mandatory controls
Payments evolution will result in bank business model changes
Mid-sized banks will have to transform business models in order to remain relevant, says Swift, as fintech and globalisation threaten traditional practices
Swift helps US real-time payments movement gain traction
The Clearing House will use Swift’s messaging software as “gateway” to new system, set to go live in 2018 after pilot phase
Belize central bank toughens AML/CFT controls with Swift solution
Software scans payment messages in real time, alerting central bank of suspicious transactions; upgrade is latest in a series of initiatives deployed in improving AML/CFT compliance
Future of renminbi looks bright – Swift
The proportion of international payments denominated in renminbi falls to less than 2%, but the number of institutions using the currency increases
Swift to ‘streamline’ cross-border payments with DLT framework
Swift to launch blockchain proof of concept later this year utilising the ‘hyperledger fabric’
Swift rolls out new cyber defences for central banks
System uses machine learning to spot patterns and anomalies, so central banks and other institutions can act early on suspicious transactions
North Korea linked to Bangladesh Bank heist
North Korean IP address used in theft, claims Russian cyber-security firm; hacker group Lazarus’ fascination with financial gain “relatively new”
Federal Reserve Banks to work with Swift to make cross-border payments ‘more traceable’
US payment systems partner with Swift to improve cross-border payment speed and traceability; Federal Reserve Banks and The Clearing House make gpi available to clients
Swift records 29.5% decline in renminbi payments
Canadian dollar overtakes renminbi to become fifth most used for international payments; latest data shows slowdown of Chinese economy as well as volatility in exchange rate could be to blame
Swift creates distributed ledger proof-of-concept
Swift, in conjunction with Hyperledger working group, will launch private distributed ledger network to help banks manage their cross-border payments
People: Furse leaves BoE FPC; Bank Negara appoints sharia advisors
Furse leaves BoE for new role at HSBC; shariah advisory council appointed for new term at Bank Negara Malaysia; and more
Swift users attacked again by new malware – research
Cyber security firm finds Swift users are being attacked by a second hacking group, using malware that manipulates logs and messages, removing them from client systems
Central banks adopt Swift harmonisation charter
Three central banks join 18 other institutions in global rollout of messaging standard ISO 20022; separate taskforce working on publishing market practice guidelines
Distributed ledgers ‘too much of a moving target’ to write business standards, says Swift
Paper addresses questions about how DLT automation can run smoothly in multi-party network environment; Swift recognises full-scale standardisation of distributed ledger use is premature
Swift unveils software to help users detect fraud
Financial messaging service hopes new software will allow users to independently detect unusual activity; software to be launched in December this year
Fiat currencies stand firm against bitcoin
The cryptocurrency is a victim of its own success as strong demand pushes its price up, increasing speculative flows
Swift threatens to report users who fail to update software
Cyber security threat is "persistent, adaptive and sophisticated – and it is here to stay”, Swift says; customers have until November 19 to install updates
Swift's Gottfried Leibbrandt on restoring trust in global payments after $81m Bangladesh fraud
Swift CEO Gottfried Leibbrandt speaks to Christopher Jeffery about how to restore trust in the international payments architecture following the $81 million cyber theft from Bangladesh Bank