article thumbnail

EBA CLEARING Introduces R2P Specs For European Solution

PYMNTS

He added that payment service providers (PSPs) and payment operators have worked diligently “to create both critical mass and pan-European reach.” . A pan-European request to pay solution is considered “missing piece of the puzzle” for real-time payment services, according to an EBA white paper. “As

Analysis 130
article thumbnail

Russia Prepares For SWIFT Exit With Blockchain

PYMNTS

Russia’s FinTech Association and 14 of the nation’s largest banks collaborated on the development of Masterchain, reports noted, citing a white paper. Using Masterchain will reduce operating costs by up to five times, the white paper claims, and will accelerate contract processing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Visa, Mastercard Replaced By MIR In Crimean Peninsula

PYMNTS

MIR, the payment system the Central Bank of Russia created in 2015, is accepted by Russian companies but is also gaining acceptance among international companies that have operations in the country, noted RT. Russia launched MIR after the U.S.

System 101
article thumbnail

JP Morgan: Treasury Innovations Accelerate Digital Transformation

PYMNTS

Corporates must look at the entire set of processes that govern operations, whether with their own clients or suppliers and with banking partners in the middle, he said. Kanthadai referenced a recent joint white paper published by Eurofinance and J.P.

article thumbnail

How next-generation technologies are transforming governance, risk and compliance

Insights on Business

Next-gen means an ecosystem of standardized GRC knowledge and tools all operating together. It’s a platform of core services and components that provide compliance guidance in numerous areas including operational risk and compliance, financial controls management, auditing and IT governance.

article thumbnail

The 2023 GonzoBanker Awards

Gonzobanker

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. That’s enough to send normal people into the fetal position.

Fintech 194
article thumbnail

The five key levers for radical transformation in financial services for digital success

Insights on Business

Because of this misplaced confidence, many banks are delaying necessary operating model transformations. Failure to do so or further delay of operating model transformations…well…better call Darwin. Operating model transformation. Operating model transformation. This is a big problem. End-to-end enterprise digitization.