Post Tagged with: "Swift"

Here Is How to Build (And Maintain) Your Innovation Team

Here Is How to Build (And Maintain) Your Innovation Team

by February 22, 2017 at 11:51 am 0 comments

Innovation groups are a relatively recent, but an increasingly important, addition to traditional bank structures. FIs employ different approaches when forming those teams: some banks have full-time, devoted engineers and technologists, while others source their existing employee-base to bring in a mixture of expertise from different departments. Whatever the approach is,Read More

Banks Build a New Standard for Cross-Border With SWIFT (And Not Blockchain)

Banks Build a New Standard for Cross-Border With SWIFT (And Not Blockchain)

by February 16, 2017 at 11:45 am 0 comments

Cross-border payments are getting an update—but banks are keeping blockchain in the blockchain labs. Instead of distributed ledger technology, banks like Citi, Wells Fargo, and BBVA, are looking to projects like SWIFT’s global payments innovation service — or gpi — which went live today, following its January launch. “If [theRead More

Ripple may become real competition for SWIFT in cross border payments

Ripple may become real competition for SWIFT in cross border payments

by September 25, 2016 at 1:00 am 1 comment

ID:38626297 Image source. Next week, 8,000 bankers and their vendors fly into Geneva for 4 days of talking about FinTech. Last year I had to fly to Singapore. This year, I can just hop on a train from Bern (sayonara jet lag). Last year Emergent Fintech started to move ontoRead More

Why Do Banks Consistently Ignore Their Text Banking Apps?

Why Do Banks Consistently Ignore Their Text Banking Apps?

by May 26, 2016 at 1:15 pm 2 comments

Many banks have them. Many banks spend money on them. Nearly all of those banks ignore them. The “them” is text banking apps, and the degree to which they have been marginalized baffles me. Earlier this week, I asked a top innovation executive at one of this nation’s largest financialRead More

The SWIFT Hacks May Accelerate the Transition to Blockchain-based Cross-Border Payments

The SWIFT Hacks May Accelerate the Transition to Blockchain-based Cross-Border Payments

by May 20, 2016 at 1:00 am 2 comments

It has been an interesting news cycle in Fintech. First we had Lending Marketplace Meltdown Week. The takeaway: “all this new fangled stuff is messed up and its time to go back to the tried and the true”. Then we had the news that SWIFT, the venerable cross border paymentRead More

Distributed Ledgers Not Ready For Prime Time, SWIFT Says

Distributed Ledgers Not Ready For Prime Time, SWIFT Says

by April 21, 2016 at 2:41 pm 0 comments

“Blockchain.” That’s an abbreviated summary of the conversation in fintech for approximately the last six months. Or, as Jack Gavigan put it, less succinctly, on Twitter: Blockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchain — Jack Gavigan (@JackGavigan) April 20, 2016 We now say “distributed ledger,” which is a slightly broader term rather than a synonym (and whichRead More

Wanted: A Slackbot for Banking

Wanted: A Slackbot for Banking

by April 8, 2016 at 2:39 pm 6 comments

Slack is great for messaging, sharing documents, and annoying coworkers with unnecessary emojis — but how about taking care of the odd financial transaction? Nearly 2.5 million people (and, as of this week, including the Bank Innovation team) spend a significant portion of their day on the team collaboration toolRead More

SWIFT to Leverage Innotribe for Faster Payments

SWIFT to Leverage Innotribe for Faster Payments

by February 12, 2016 at 11:33 am 1 comment

Get ready for the launch of a faster-payments initiative from the world’s payments kingpin, SWIFT. Founded in Belgium in 1973, the Society for Worldwide Interbank Financial Telecommunication, usually known as SWIFT, is launching a faster payments initiative next week, and SWIFT’s Innotribe startup initiative will be a big part of it.Read More

Blue Chip Banks Opt for R3 Over SWIFT

Blue Chip Banks Opt for R3 Over SWIFT

by January 21, 2016 at 11:28 am 0 comments

Banks with a combined market capitalization of nearly $600 billion have opted for the R3 CEV distributed ledger consortium over SWIFT’s global payment innovation initiative, introduced today. There are 45 banks in SWIFT’s initiative, which aims to make more payments data accessible to corporate treasury departments. But R3 has scored a totalRead More

8 Head-Scratching Tweets from Sibos

8 Head-Scratching Tweets from Sibos

by October 19, 2015 at 10:05 am 0 comments

What happens when you bring 8,200 delegates together for a banking event? Well, you get at least some bizarre tweets. Here are the 8 oddest tweets from this year’s Sibos, which took place last week in Singapore. They say as much about the uncertainty of the future of banking as they doRead More