Volante Technologies Supports Fintech Startup IWIAfrica’s Integration into the Financial Market

Volante Technologies Inc., a global leader in the provision of software for the integration, processing and orchestration of financial messages, data and payments, announced the use of Volante Designer within IWIAfrica to enable communication with banks and financial institutions’ systems via SWIFT and FIX messages. IWIAfrica is an award winning, emerging market platform provider for

Fundtech Named Best SWIFT Utility Access in Global Finance’s World’s Best Treasury & Cash Management Awards

Fundtech, a market leader in global transaction banking solutions and the largest SWIFT service bureau operator in the world, has been named “Best SWIFT Utility Access” by Global Finance as part of the publication’s 2014 World’s Best Treasury & Cash Management Awards. The Global Finance award winners were selected by the editors with input from

Equity Bank Beefs Up Merchant Banking Business with Wider Merchant Tie Ups

In an ongoing process geared at setting the pace for the full scale rollout of the Equity 3.0 strategy aimed at facilitating a cash lite economy in East Africa, Equity Bank has now confirmed its partnership with some of the world’s leading merchant business and payment processing firms. The Bank, which reported a 58% growth

SWIFT’s Growth in Africa Outperforms Rest of World

SWIFT has released figures showing its business in Africa is outperforming the its growth globally, with African volumes growing by 16 per cent compared to 10 per cent worldwide. The company said figures released at its 21st African Regional Conference in Marrakesh, Morocco, provide more evidence of Africa’s growth and long term trends, highlighting the

The Renminbi is the Second Most Used Currency for Cross Border Payments with China and Hong Kong

SWIFT’s RMB Tracker shows that the RMB is now the second most used currency for cross border payments with China and Hong Kong. In May 2014, 12% of cross border payments with China and Hong Kong were done using the RMB, up 36% from one year ago. The US Dollar remains in the top position,

Africa Emerges as SWIFT Network’s Fastest Growing Region

Africa has emerged as the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT’s) fastest growing region, with a 17 per cent increase in total transaction volumes over the SWIFT network in the year ending March 2014. Globally, the company said within the same period traffic volumes rose by 9.7 per cent. In Africa, Nigeria recorded the

Banco Nacional de Angola Implements SWIFT Sanctions Screening

SWIFT has announced that Banco Nacional de Angola is implementing SWIFT’s Sanctions Screening service to help the country meet its financial crime compliance obligations. SWIFT Sanctions Screening is a cloud-based subscription service that filters messages in real time and checks against customers’ selected sanctions lists. Once active, the Sanctions Screening service automatically routes messages in

High Value Payment System Goes Live on SWIFT at Central Bank of Nigeria

The Central Bank of Nigeria’s high value payment system has gone live on SWIFT. The move to SWIFT is a key element of the Central Bank of Nigeria’s Payment System Vision 2020 (PSV2020), which calls for a “Nationally Utilised and Internationally Recognised” payments system and provides a robust platform to support Nigeria’s continued economic growth.

SWIFT Announces KYC Registry and Dedicated Financial Crime Compliance Unit

SWIFT announced the creation of a global Know Your Customer (KYC) Registry, a centralised utility for the collection and distribution of standard information required by banks as part of their due diligence processes. Based on a collaborative industry-wide approach, the new utility will help banks to manage compliance challenges and reduce the high costs associated

ACI Worldwide Achieves 2013 Swift Certified Application Accreditations

ACI Worldwide, a leading international provider of payment systems, announced that SWIFT has awarded the 2013 SWIFT Certified Application Payments label to ACI Money Transfer System™ for the sixteenth consecutive year. The SWIFT accreditation for payments recognizes that Money Transfer System supports SWIFT’s highest requirements for the processing of payments. ACI has also integrated the