Swift Is Creating a Blockchain-Based Platform for Cross-Border Payments
Global messaging hub Swift has spent decades building a global system for cross-border payments, and now it plans to launch a blockchain-based solution incorporating digital assets. In collaboration with roughly 30 global financial institutions, Swift is developing a shared digital ledger designed to be interoperable with existing blockchains, including those supporting stablecoins, tokenized deposits, and […]
How Banks Can Regain the Ground They’ve Lost to Paytechs
In the race to handle payments, banks are increasingly losing ground to smaller, nimbler paytechs—companies that provide not only end-to-end payment solutions but business accounts and operational tools. Data from Capgemini highlights how these companies are challenging banks with faster services, more cost-efficient services. Onboarding a merchant through a bank can take up to seven […]
Average FICO Score Drops: A Canary in a Coal Mine?
FICO Scores are the credit card standard, throughout the account lifecycle. Top issuers use them at the acquisition point, they become the foundation for assessing credit quality on regulatory reports like Current Expected Credit Loss, automated credit line increases consider them, collection groups use them to triage resources, and when it comes time to securitize […]
Why a Bill Pay Redesign Should Be a Higher Priority for FIs
Bill pay has been a core service for financial institutions for years. However, aside from the digital exterior, the nuts and bolts of bill pay have been largely unchanged since their introduction. This lack of modernization is beginning to show now that the open-banking model is gaining momentum. As James Wester, Co-Head of Payments at […]