Today In Digital-First Banking: SWIFT To Retool Platform For RTP; VSoft Rolls Out Bread Merchant Payment Network
In today’s top news in digital-first banking, SWIFT has announced that its international platform will be updated to let financial institutions (FIs) provide instant transactions, and VSoft has rolled out its new Bread merchant services network. Plus, Acumatica has introduced features for its Acumatica Cloud ERP technology, including electronic banking feeds.
SWIFT announced that its cross-border infrastructure will be revamped to let FIs provide real-time transactions. The cooperative said the effort will offer transaction management services. It is anticipated that the next-generation digital platform will harness an application programming interface (API) and cloud technology.
VSoft has launched its novel Bread merchant services network to allow small and medium-sized businesses (SMBs) to have faster and less costly transactions. Payments on the network are directed between institutions, while a middleman does not hold the funds. Instead, funds are moved directly from a sender to a receiver’s account once a Bread user pays.
Acumatica has launched the Acumatica Advanced Expense Management and Electronic Bank Feeds for the Acumatica Cloud ERP technology. The cloud technology firm will provide safe connections with over 11,000 FIs with different authentication processes and tokenization technology for the electronic banking function. Live activity downloads will be available, in addition to smart-matching to current transactions.
i2c Inc. has brought Jonathan Vaux on board as general manager of its operations in Europe. The new general manager will report to the firm’s President James McCarthy, and will work to create alliances with FinTechs, FIs, payment service providers and retailers across the continent. Vaux previously worked at Visa for more than 20 years, where his work was geared toward commercial payment offerings and generated growth, prior to joining i2c.