Swift awarded ESMIG network service provider status
Swift will be supporting its customers through their Target consolidation projects and the migration to ESMIG.
CHAPS
HSBC payments head to take the helm at CHAPS
Tim Fitzpatrick has been appointed as the new chief executive of CHAPS, the UK’s same day high-value payment system. Currently HSBC’s Global Payments and Cash Management chief operating officer and group head of payment services.
BNP Paribas becomes CHAPS’ 22nd direct participant
BNP Paribas has become a direct participant in CHAPS, the UK’s same day high-value electronic payment system, the 22nd bank to join in this role. More are expected to join by the end of 2016. As a direct participant, the bank can directly send and receive irrevocable, guaranteed sterling payments with same day finality, rather than through a third-party.
Bank of England live on Swift’s MIRS contingency platform
The Bank of England has become the first central bank to go live with an implementation of the Market Infrastructure Resiliency Service contingency system it has been piloting with Swift over the past few years.
BNY Mellon sets out global ambitions with new payments architecture
BNY Mellon says a global overhaul of its payments infrastructure will position it for “a new era” in payments and fundamentally change its relationship with customers and other financial institutions internationally.
The man from CHAPS
The UK’s Clearing House Automated Payments System turned 30 earlier this year. It wasn’t an anniversary marked with street parties by a grateful nation, but in its quiet way it was a significant moment, for – in common with the whole payments infrastructure – the system is going through a period of change. Phil Kenworthy, […]
It’s 2014 … time to change the way you think about payments
Ten years ago business-to-business payment options were pretty limited: cheques dominated, and organisations only had the option of 3-day BACS payments or expensive CHAPS transactions for high value, same day payments.
Five international banks to join UK’s CHAPS system
Five international banks are to become direct participants in the UK’s CHAPS high-value payments system as part of the Bank of England’s efforts to reduce systemic risk.
New CHAPS mechanism reduces intraday liquidity demands on members
A new Liquidity Savings Mechanism for CHAPS clearing members is showing significant improvement in liquidity efficiency after its first two months of operation. Members of the CHAPS Clearing Company, the organisation responsible for the operation of the UK’s same-day high-value payment system, began using the new LSM in April. Developed by the Bank of England, […]
