Swift has announced the launch of a Proof of Concept (PoC) to explore whether distributed ledger technology (DLT) can be used by banks to improve the reconciliation of their nostro databases in real time, optimising their global liquidity.
Banks around the world are reducing their banking relationships with a focus on higher-risk countries, including in the region, resulting in more banks losing access to international financial networks and products, said an industry expert.
More than 3,000 financial institutions have signed up to use SWIFT’s Know Your Customer (KYC) Registry, a centralised repository that maintains a standardised set of information about financial institutions required for KYC compliance.
SWIFT, a global provider of secure financial messaging services, has completed the first phase of the global payments innovation (gpi) initiative pilot, clearing the way for the go-live of the service in early 2017.
During the pil
The Swift inter-bank messaging network plans to send daily reports to clients to help them more quickly identify unauthorised payment instructions like those used by hackers to steal $81 million from Bangladesh's central bank in February.
Acer today unveiled its new Swift series of ultra-thin and lightweight notebook PCs at its global press conference at IFA Berlin.
Comprising four lines, namely the Swift 7, Swift 5, Swift 3 and Swift 1, the new ultra-thin models f
SWIFT, the global financial messaging system, has disclosed new hacking attacks on its member banks as it pressured them to comply with security procedures instituted after February's high-profile $81 million heist at Bangladesh Bank.
Hackers who stole $81 million from Bangladesh's central bank have been linked to an attack on a bank in the Philippines, in addition to the 2014 hack on Sony Pictures, cybersecurity company Symantec Corp said in a blog post on Thursday.
The Swift secure messaging service that underpins international banking said it plans to launch a new security programme as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist.
The Society for Worldwide In
Shortly after 7 pm on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong.
Wells Fargo complie