What is Request to Pay in about 300 Seconds? (Infographic) 1

What is Request to Pay in about 300 Seconds? (Infographic)
You may have seen a lot of information recently about Request to Pay. SWIFT are focusing in on cross border Request to Pay as part of their SWIFT gpi initiative (more to come on that later). The following pretty cool infographic by the European Payments Council nicely explains Request to Pay… Request to Pay (RTP) ...

The Difference Between Ripple and SWIFT Cross Border Payments 1

The Difference Between Ripple and SWIFT Cross Border Payments
Most commentators are not talking about the difference between Ripple and SWIFT, rather framing it as a battle between the two companies – Ripple versus SWIFT. I’ve been doing quite a bit of reading into the two companies and in this post share with you some of the best resources describing the difference between Ripple ...

10 Things Ginni Rometty (IBM) Taught Me about Future Tech 2

At Sibos one of the most prominent keynote speeches was that by the IBM Chairman, President and CEO Ginni Rometty. Ginni covered a lot of ground during her speech and i must admit it was pretty interesting! Following is a recap of the key themes that i took away from the discussion. 1. Financial Services ...

Simple Guide to the SWIFT MT101 Format 25

Two of the most popular posts on this blog are the Structure Of A SWIFT Message, Explained and the Difference between a SWIFT ACK and SWIFT NACK. Many of the readers of those posts have asked if i could do something similar detailing the SWIFT MT101 format. In this post, the idea is to give ...

A Quick Intro to Implementing the CGI PAIN.001 Format 6

Anybody that is implementing the PAIN.001 format needs to read this! Sometimes when you are looking to update or implement a new payments format it is difficult to know where to start. Add to this the different variety of payment formats, differing bank proprietary formats and requirements, country specific requirements, technical jargon, the squeeze on ...

Piyush Gupta on Growth, Decline & Disruption in Asia 3

Last week, it was all happening at Sibos in Singapore. One of THE most talked about and retweeted events at Sibos 2015 was the opening plenary by Piyush Gupta – the Chief Executive Officer (CEO) of DBS Bank. I wasn’t at Sibos, but the social media buzz around Piyush was such that I felt like I ...

The Top 20 Tweets from Sibos 2015 2

I wasn’t one of the 8200 Sibos attendees in Singapore this year, so I looked to various other channels to get my daily dose of SWIFT and Sibos news. By the sounds of things there were some really interesting panel discussions (particularly around blockchain) and insights into various disruptive technologies and consumer demands. Finextra and ...

Is the SWIFT 2020 Strategy Good Enough? 3

The other week SWIFT published a release titled Transforming the business of banking. The article gets views from some of the top SWIFT for corporate representatives and outlines how SWIFT aims to sign up more corporate customers and further develop its solutions for existing customers. These objectives are part of SWIFT’s overall SWIFT 2020 Strategy. Check out ...

The Difference between a SWIFT ACK and SWIFT NACK 27

Having explained the various SWIFT message types and the structure of a SWIFT message, one of the other big questions that corporates contend with is what is the difference between a SWIFT ACK (Acknowledgement) and SWIFT NACK or sometimes referred to as SWIFT NAK (Negative Acknowledgement). Let’s get straight into it… The Structure of SWIFT ...

The Structure Of A SWIFT Message, Explained! 49

If you’re looking at a SWIFT message for the first time, it can be a bit daunting. To the untrained eye the whole SWIFT message structure can look like gobbledygook. But actually, there is a bit of a method to the madness. Whether you are receiving, processing or constructing an MT101 or an MT940 message ...