Post Tagged with: "Swift"

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 0 comments

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

Swift to Shift Innotribe Strategy

Swift to Shift Innotribe Strategy

by September 30, 2015 at 11:37 am 0 comments

Swift is pivoting its strategy for financial startups. First, the global collective that powers inter-bank payments, will move away from its “boil the ocean” strategy of supporting the startup ecosystem, irrespective of the startup’s focus. Instead, Innotribe, its startup support system, will shift more toward initiatives in particular areas of fintech, likeRead More

CurrencyTransfer.com Prepares Major Funding Round

CurrencyTransfer.com Prepares Major Funding Round

by July 24, 2015 at 10:55 am 0 comments

CurrencyTransfer.com, a currency exchange marketplace for businesses, is preparing a major funding round from institutional investors later this year, the company told Bank Innovation. CurrencyTransfer.com has received an undisclosed amount of funding from angel investors including Errol Damelin, Gigi Levi, Barak Rabinowitz, and Itay Birnboim. Innovative solutions abound for movingRead More