Markets

Swift API acknowledges pay later consumer trend

The publication of a ‘Pay Later’ API standard by Swift is further evidence of the ‘componentisation’ of payments, Lu Zurawski, practice lead for retail banking products at ACI Worldwide, said. In January, Swift published an API standard to support the increasingly popular Pay Later online payment facility.

Swift gpi sets milestone

More than $40 trillion was transferred over Swift’s global payments innovation (gpi) system during 2018, Swift has announced. The share of cross-border messaging using gpi rose from 15% at the start of 2018 to 56% by the end of the year. More than 3500 banks, accounting for 85% of Swift’s total payments traffic have committed to adopting gpi.

The DIY investment model

Tokenisation is opening up a whole new world of tradable assets along with revolutionising the way the market can trade traditional products.

Now is the time to disrupt payments

Rather than being behind the curve in terms of new payments technologies, banks are “a bit delayed” said Michael Spiegel, global head of cash management at Deutsche Bank. While innovation by bigtech and social media firms really took off during 2007-2010, banks had “other challenges” at that time, he said, writes Heather McKenzie.

Making selfies pay

“Selfies to pay” could emerge as a new lure to bring younger customers into the banking fold as face recognition matures as a widespread technology within the financial sector, writes Roland Tellzen

Central banks go crypto

Cryptocurrencies have come a long way since their early associations with libertarian aversion to government surveillance. Discussion, if not yet concrete application, of digital currencies has permeated banks and other financial institutions, writes Richard Schwartz