SWIFT

Russia may be facing a lock out from SWIFT, but are there alternative systems that are ready for action, asks Susana Dominguez of Mercury TFS.

With Visa and Mastercard leaving Russia due to its aggression in Ukraine, Russia has turned to China’s UnionPay as a payments lifeline, writes TFG’s Lewis Evans

Among our top stories: Going nuclear – SWIFT ban to hamper Russian trade

The US and its Western allies have ramped up harsh economic sanctions against Russia, as it continues to attack Ukraine

In this article, ITFA’s Andre Casterman reveals the secret ingredients of fintech success

Your Monday morning coffee briefing from TFG: COP26 gets underway, with a Denmark-led agreement on low-carbon shipping, and a UK emissions disclosure agreement in the making.

It’s around two weeks until the SWIFT Standards Release 2021, which is one of the items seemingly on everyone’s lips.

If your work involves international trade transactions, you will find that one of the most common and useful SWIFT Codes that you will encounter is SWIFT code MT 754.

Banks and fintechs have not always been the closest playmates, but ITFA’s Andre Casterman is on a mission to help them work together.

SWIFT is a communication platform that allows members to connect and exchange financial messages securely and reliably.

Partnership with SWIFT enables integrated cross-border payments tracking

Tech giant IBM is teaming up with fintech startup MonetaGo to address trade finance fraud, with an initial focus on South East Asia. 

World trade is central to economic growth and as we emerge from the pandemic, trade is paramount in enabling the global economy to recover. Is the time really now, for digitising trade, and how can advance the dialogue to reduce friction, costs and risk?