Following the SWIFT Conference Room session 'Instant Payments - really a real-time reality?', meet the experts from the panel, EBA (RT1 clearing), ECB (Eurosystem's TIPS) and AU-NPP. Also attendng is the SWIFT Institute's Professor Juan Giraldo, co-author of a Research Paper on Instant Payments.
Get practical insights from the users and provider of the first pan-European instant payment system RT1, live since November 2017.
Learn more about the role of real-time payments in meeting the needs of an integrated digital economy and find out what’s next on the agenda of payment infrastructures in Europe and beyond.
Stories from the field: Discover how you can tackle your operational challenges by partnering with SWIFT's Professional Services team
Every day our industry faces new challenges and disruptions, which impact each organisation differently. That is why many call upon external partners to help understand the impact of these changes on their organisation, to benchmark against industry peers and, in the end, to find the best solution.
With SWIFT Professional Services, you can leverage the most specific and recognised SWIFT expertise for optimal use of your SWIFT products and services.
Can Standards can be relevant in the translation challenges that the evolution (migrating from one syntax to another syntax [FIN to ISO 20022] and/or revolution (moving from messaging to API) will bring to the actors in the financial industry.
Adoption of global market practice for payments will pave the road to a successful global migration to ISO 20022 – Why, and when, should you get involved?
Market Practices will be key contributors to the success of global ISO 20022 migration – find out from our panelists the three major actions taken by the industry, together with SWIFT, to facilitate the dialogue between the different markets, build harmonized Market Practices but also the tools made available to govern, document and maintain resulting documentation.
Several countries like the UK and Singapore have been offering instant payments (IP) domestically for a while now, Australia’s new payments platform is approaching one year live, SWIFT is preparing to go live with EBA Clearing’s RT-1 and Eurosystem's TIPS in Europe, and ever more countries are contemplating upgrading to instant payments capabilities.
As evidenced on a daily basis, gpi payments are quick – very quick – typically minutes or even seconds direct to the beneficiary. With more and more countries now offering domestic real-time payments, there is great impetus for global instant cross-border payments. This is why SWIFT recently kicked-off an initiative to explore how gpi payments could be accelerated even further, in particular through the use of domestic instant payments systems to settle the final leg.
Financial Markets Infrastructures (FMIs) generate large amounts of data that is valuable for many purposes ranging from optimising liquidity to enabling better risk management and generating insights about the economy. This presentation, by Dr. Kimmo Soramäki, demonstrates practical outcomes that can be achieved with advanced analytics using artificial intelligence (AI) and machine learning (ML) algorithms, and how to get there.
Today's payment ecosystem is being shaped with the introduction of decentralised digital currencies supported by Blockchain (DLT) as well as improvements in the current infrastructure that allow for instant payments. However, while decentralised digital currencies offer an open infrastructure, they require higher technology-based coordination which may drive centralisation. On the other end, while centralised infrastructures might be better suited to provide higher efficiencies, accessibility is more restricted, and the adoption of new technologies becomes more difficult.
The trends affecting Payment Market Infrastructures (PMIs) today could project us into a very different future. Some imagine the rapid consolidation of cashless payments in all areas of life, perhaps dominated by crypto currencies. Others see a world populated by a myriad of fintech alternatives with niche activities characterising the payments landscape. Lowering costs and low profit margins give many the idea that payments will become a mere commodity service with little to attract innovators or those interested in high value added activities.