The financial services industry has seen ISO 20022 grow firmly over the last 15 years. What was then a small pocket of countries tackling migration has now become widespread adoption for domestic and international payments.

And with momentum building, it is clear that IS0 20022 is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions.

The time is now for ISO 20022

TransferGo, one of the world’s fastest growing money transfer companies, has announced the hire of Francesco Fulcoli as its new chief compliance officer.

Based in London, Francesco will primarily be responsible for leading the delivery of cutting-edge experience on KYC, as well as AML and Counter-Terrorism Financing (CFT) prevention processes, while promoting a strong compliance culture internally and good relationships with customers, regulators and partners.

OpenPayd, an API-led Banking-as-Service provider, has appointed Matthias Kröner as a Senior Advisor. The appointment follows a period of significant growth for the company in the past year providing enterprise businesses access to cross-border banking and payment solutions.

What is the likely impact of the virus on the business-to-business (B2B) payments?

If cashflow is the lifeblood of any business, then the B2B payments system represents the arteries and the veins. For a body to be healthy, blood must flow efficiently to and from the heart. For a business to be healthy, cash payments must also move efficiently in both directions.

Avaloq and Personetics are entering into a strategic partnership to connect Avaloq’s global banking clients with Personetic’s AI-powered personalized engagement solutions.

Personetics, the leading global provider of data-driven and personalized engagement solutions powered by artificial intelligence (AI) for bank customers, is joining the Avaloq.one Ecosystem, Avaloq’s open banking marketplace bringing together financial institutions and innovative fintechs using the latest REST API and sandbox technology on www.avaloq.one.

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to equip television station Canal 22 with employee payout products for e-commerce payments, Point-of-Sales (POS) spend, and ATM cash withdrawals.

TSB announced it will ensure that all of its smallest suppliers will be paid within just 10 days of invoicing the bank. The move will apply to all companies that supply goods and services to the bank, even if the contract allows it to pay over a longer period.

Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the deployment of the new £45 contactless limit across UK retailers from 1 April 2020.

The payments provider, which provides the technology to power over 150,000 terminals across the UK retail sector, is supporting the increased threshold to help prevent the spread of Coronavirus. Adjusting the contactless limit from £30 to £45 will allow more customers to make payments without touching card terminals or handling cash.

“The past decade has been a turbulent time for Bitcoin - we've experienced bull markets, bear markets, 10% swings (in both directions), China banning Bitcoin, China unbanning Bitcoin, China banning Bitcoin (again), China unbanning Bitcoin (again), hard forks, the “death of Bitcoin” more than 380 times... and more. Bitcoin is not immune, but it has become weathered to these events.
 

Planixs, the leading provider of real-time, intraday cash, collateral and liquidity management solutions, today announced that it has launched its global solution provider partner programme and invites financial services software providers to join.