In his new article, Wim Raymaekers, Head of Banking Market at Swift, sets out how in 2019 we’re continuing to pave the way towards frictionless cross-border payments

Banks, corporates and application providers partner to further improve payment transparency.

-    New service enables businesses and consumers to send payments in seconds with full transparency and strong security -    Swift Go is a key building block in the co-operative’s strategy to enable instant and frictionless cross-border transactions -    Seven leading global banks already live with the service

Digital assets could unlock a range of untapped opportunities in financial services and enable firms to deliver new value to their customers. But challenges persist that need to be resolved first.

Over 50 of the world’s largest institutions have signed up for the new service that helps reduce settlement fails through clear end-to-end tracking across post-trade processing.

"Swift is delighted to support this industry-wide effort to advance distributed ledger technology," said Craig Young, Swift's Chief Technology Officer. "Cooperation and collaboration - hallmarks of the Swift cooperative - will be key to ensuring the scalability and adoption of this technology."

The rapid growth of digital payments around the world, in part driven by the COVID-19 pandemic, has created a lasting change in the way that we do business, from central bank to commercial, corporate treasurer and beyond. Stakeholders from across the community in the Middle East and Turkey shared their experiences at a recent Swift online event.

Visitors to the Swift Business Forum London 2016 would have been forgiven for experiencing a few Sibos 2015 déjà vu moments – standing room-only Blockchain sessions, “DLT” (distributed ledger technology) speaker references left, right and centre, and a flurry of #Blockchain sound bites punctuating the Twitter dialogue.

Sibos, Dubai, 16 September 2013 – Swift, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, today announced at Sibos that Bank of America Merrill Lynch has joined its Early Adopter Programme for the Japan Securities Depository Centre (JASDEC), the country’s central securities depository.

We’re working across the securities industry to solve post-trade challenges, together. Learn how our collaborative platform approach helps you reduce settlement fails, increase operational efficiency and opens opportunities for innovation.