Off the Wire
SWIFT publishes new standard for pre-authorisation of funds
SWIFT has published a new API standard for the Pre-authorisation of funds, allowing further innovation in financial services enabled by Open Banking. Read more…
SWIFT
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Japan to lead development of SWIFT network for cryptocurrency
Japan’s government is leading a global push to set up an international network for cryptocurrency payments, similar to the SWIFT network used by banks. Read more…
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SWIFT warns banks: get ready for more cyber heists
(Reuters) – SWIFT, the global messaging system used to move trillions of dollars each day, warned banks on Wednesday that the threat of digital heists is on the rise as hackers use increasingly sophisticated tools Read more…
Off the Wire
SWIFT signs 22 more banks onto blockchain PoC network
SWIFT has announced that 22 additional global banks have joined its Hyperledger-based blockchain proof of concept (PoC) network, designed to validate whether the technology can help banks reconcile their international nostro accounts in real time Read more…
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SWIFT annual profit drops 31% thanks to cyber heists
LONDON (Reuters) – Dealing with cyber hacks on banks ate into profit last year at the SWIFT messaging system, which financial institutions use to move trillions of dollars each day. Hackers stole $81 million from Read more…
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SWIFT finally introduces tool to stop fraudulent messages, too late for some
LONDON (Reuters) – Interbank messaging service SWIFT, which is used to transfer trillions of dollars between banks every day, will launch a new tool to spot fraudulent messages, seeking to restore trust in the system Read more…