Swift Standardizes Cross-Border Payment Experience for Corporate Customers

Swift has announced plans to streamline cross-border payments for financial institutions by extending ISO 20022 standards and offering ready-to-use, white-labelled payment tracking services. This initiative, developed with 25 leading banks and 20 major corporations including Roche and Saudi Aramco, aims to standardize rich payment data and provide complete transaction transparency. Currently, 89% of payments on Swift’s network reach the beneficiary bank within an hour, ahead of the G20's 2027 target.
 

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