Panda Remit boosts cross-border remittance with OCBC

At Panda Remit, our partnership with OCBC is revolutionizing cross-border payments. By integrating directly with OCBC's robust banking infrastructure and utilizing the PAYNOW channel, we've achieved 'single-recording, full-chain synchronization'. This allows users in Singapore and Hong Kong SAR to send funds to Mainland China with unprecedented speed and reliability. It's a prime example of how fintech and traditional banking can collaborate to solve industry-wide pain points.

Traditional banking tells us cross-border settlements must take days. That pre-funding is necessary for trust. That collection agents need massive capital reserves to operate. These assumptions kill African trade efficiency 📉 Orange challenges this outdated thinking. Collection agents shouldn't wait 7 days for settlements when Lightning Network infrastructure delivers the same payment in under 10 seconds. They shouldn't lock up millions in pre-funded accounts when non-custodial architecture removes that requirement entirely. The technical architecture is straightforward. API integration connects directly to agent systems. Lightning channels handle the heavy lifting of moving value across borders. Local rails deliver funds to destination accounts. No correspondent banks. No SWIFT delays. No float requirements. Real numbers from deployed corridors: Settlement times reduced from days to under 10 seconds. Pre-funding requirements eliminated completely. Operational costs starting from just 0.5% per transaction. Transaction tracking improved from opaque to transparent. These aren't theoretical improvements - they're live results from agents processing real payments today. The future of collection services isn't about marginal improvements to SWIFT. It's about fundamental infrastructure replacement. Agents using Lightning rails already compete at a different level - winning clients through speed, operating without capital constraints, processing volumes that traditional infrastructure cannot support. Stop accepting banking delays as normal. Transform your collection operations with Orange ⚡ https://www.useorange.com/

NPP Briefing 1. Overview The New Payments Platform (NPP) is undergoing its most significant transformation since launch, driven by the industry’s plan to retire the Bulk Electronic Clearing System (BECS) by 2030. This marks a fundamental shift toward real-time, data-rich, account-to-account (A2A) payments. 2. Strategic Priorities and Key Developments A. Migration and Modernisation (BECS Wind-down) BECS Decommissioning (Target 2030): The industry is preparing to fully migrate BECS batch payments to NPP rails. B. Technology, Resilience, and Standards ISO 20022 Upgrade (Target: 2026): Enhanced data richness, reconciliation, and fraud analytics; harmonised with global payment systems. Operational Resilience: Implementation of a national contingency framework to ensure reliability and recovery capability as NPP becomes systemically critical. Cyber and Fraud Uplift: Strengthened monitoring, AI-enabled detection, and coordinated scam response initiatives across the NPP ecosystem. 3. Strategic Implications for Financial Institutions Transformation Imperative This is not merely a system upgrade but a strategic transformation—redefining how payments are executed, governed, and experienced. 4. Key Organisational Considerations: Capability Readiness: Build enterprise-grade capacity to process high-volume, low-latency, data-enriched payments. Portfolio Alignment: Integrate payments modernisation with digital banking, fraud, and customer experience strategies. Governance and Oversight: Treat NPP readiness as a board-level priority—linking operational resilience and prudential compliance (e.g., CPS 230, CPS 900). Competitive Advantage: Institutions that leverage NPP capabilities early can unlock new value streams—such as real-time liquidity management, data-driven insights, and superior reconciliation.

Banking Industry Gathers in Parliament to Launch Open Banking Blueprint Paul Scully, Chair of Smart Data Group and former Smart Data Minister, said: “This blueprint reflects the sector’s shared ambition – to take the best of what open banking has achieved and build a structure fit for the future.  https://lnkd.in/ewREuqZc David Monty Raj Abrol Clare Ambrosino James Williams Richard Newman #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

The Open Banking Implementation Entity (OBIE) i.e. typically the Central Bank, plays a key role in facilitating the Open Banking infrastructure, (as per the PSD2). By setting up standards and guidelines to ensure secure and standardized data sharing among financial institutions, OBIE ensures that the ecosystem operates smoothly by managing the regulatory and technical frameworks for Open Banking services. OBIE's Role in Facilitating Open Banking Infrastructure 1. Standardized APIs: OBIE develops and maintains the API standards that banks and third-party providers (TPPs) must use. These APIs allow secure data sharing and payment initiation. 2. Regulatory Compliance: OBIE helps banks and TPPs meet regulatory requirements such as PSD2 (Payment Services Directive 2) in the EU and UK. This includes rules on customer authentication and consent management. 3. Security Frameworks: OBIE defines security standards, such as strong customer authentication (SCA) and encryption protocols, to ensure that customer data is shared securely between banks and TPPs. 4. Third-Party Transaction Service Providers (Finetchs & Other ASPs) Certification: OBIE oversees the certification of TPPs, ensuring that only authorized entities can access customer data or initiate payments. 5. Customer Control: Customers retain control over their financial data and give explicit consent for it to be shared or used by third parties through OBIE-compliant mechanisms. 6. Operational Infrastructure: OBIE manages the operational guidelines for onboarding banks and TPPs, including the handling of disputes, service availability, and system reliability.

ClearBank, the enabler of real-time clearing and embedded banking, has announced its partnership with AutoRek, a financial control and data management platform, to enhance its reconciliation capabilities and support its expanding transaction volumes.

💶 𝗛𝗼𝘄 𝗥𝗲𝗮𝗹-𝗧𝗶𝗺𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗳𝗹𝗼𝘄 𝗮𝗰𝗿𝗼𝘀𝘀 𝗲𝗻𝗱-𝘁𝗼-𝗲𝗻𝗱 𝗹𝗮𝘆𝗲𝗿𝘀 🚀 In today’s payments landscape, speed alone isn’t enough. What truly defines real-time is the coordination of systems, liquidity, authentication, and compliance — all happening invisibly, in under two seconds. This visual breaks down the Real-Time Payments ecosystem — from the moment a user initiates a payment to the instant the beneficiary receives confirmation. Let’s look behind the scenes 👇 1️⃣ 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝗼𝗻 — through mobile apps, QR payments, SoftPOS, internet banking, or corporate APIs. Customers authenticate via biometrics, OTP, or SCA mechanisms, ensuring trust and consent from the first tap. 2️⃣ 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗛𝘂𝗯 / 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗼𝗿 — validates messages (ISO 20022 / ISO 8583), screens AML and sanctions, and applies business rules and velocity limits. It orchestrates data across APIs, MQs, or direct ISO channels, routing requests to the appropriate Clearing & Settlement Mechanism (CSM). 3️⃣ 𝗥𝗲𝗮𝗹-𝗧𝗶𝗺𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗦𝘄𝗶𝘁𝗰𝗵 / 𝗖𝗦𝗠 — routes, clears, and settles in real time. Some systems (TIPS, RT1, STET) use RTGS-based liquidity with prefunded Dedicated Cash Accounts, others (STEP2, Iberpay) operate netting cycles. Liquidity and collateral management happen continuously — with auto-sweeps and intraday monitoring to guarantee settlement finality. 4️⃣ 𝗥𝗲𝗰𝗲𝗶𝘃𝗶𝗻𝗴 𝗕𝗮𝗻𝗸 — credits the beneficiary instantly, generates confirmation (pacs.002 / admi.002), and updates account balances. Reconciliation runs via camt.052/053/054 reports, ensuring every payment is traceable, auditable, and fully aligned with core banking systems. 5️⃣ 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀 𝗮𝗻𝗱 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲𝘀 — receive instant notification and visibility, but settlement timing may vary depending on acquirer cycles: real-time, same-day, or next-day. Corporates use host-to-host APIs (pain.001) and tokenized billing to process payrolls, supplier payments, and collections with Straight-Through Processing and PKI-based digital signatures. ☝ All of this happens in real time — within two seconds. Each arrow, each message, each validation represents thousands of micro-operations — encryption, authentication, reconciliation, liquidity updates — all synchronized across banks, PSPs, merchants, and national switches. Instant” isn’t just about speed. It’s about reliability, transparency, and control — where regulation, technology, and interoperability converge to make real-time truly real.

Real-time payments aren’t just about speed, they’re about trust, compliance, and seamless orchestration behind the scenes. Dive into what makes real-time truly real.

How to Choose the Right Payout Method for Global Teams Choosing the right payout methods for a global team is vital because it affects payment speed, cost, and team satisfaction. A mismatched method (for example, relying only on slow bank wires where local digital options are preferred) can lead to delays, high fees, and frustrated payees. In contrast, aligning payout options with local needs builds trust. Comparing Payout Methods Bank Wire Transfers: A classic cross-border method, but often slow (days to arrive) and expensive (around $20-50 fees per payment); wires reach almost anywhere yet are one of the least efficient options for frequent payouts.  Digital Wallets: Online wallets enable fast, low-cost transfers with good exchange rates, often in minutes, but both sender and recipient need an account (with a small withdrawal fee).  Prepaid Cards: Prepaid debit cards loaded by the company give payees immediate access to funds without a bank account– useful for unbanked recipients - though card issuance and ATM withdrawals can carry fees.  Local Bank Transfers: Domestic transfers (ACH, SEPA, etc.) use local clearing networks, avoiding international intermediaries. They clear faster and at lower cost than international wires, but you need a local banking partner to send them.  Real-Time Payments: Many countries have instant payment networks that make funds available immediately 24/7. These are ideal for urgent payouts, though they’re usually domestic-only - a provider may be needed for cross-border use. Factors for Choosing the Right Method Region Compatibility: Offer methods that local team members know (for instance, SEPA in Europe or mobile wallets across Asia and Latin America). Matching local payment norms improves adoption.  Speed Requirements: If workers expect rapid payouts (e.g. gig workers or daily earners), use instant or same-day options and avoid slow methods like international wires.  Cost Efficiency: Minimize fees and exchange losses. An international wire can incur $30-100 in fees, whereas local bank transfers or digital wallets cost far less per transaction.  Compliance: Ensure each method meets relevant AML, KYC, and tax requirements.  User Experience: Choose payout options that are convenient and in the recipient’s local currency. When payees can easily receive and track their funds, it reduces frustration and support tickets. Often the best approach is to use a mix of payout methods tailored to different regions and needs. If you’re in the market for a scalable, compliant, and regionally adaptable payout solution, i-payout offers a unified platform to manage global disbursements with speed and confidence. https://lnkd.in/gZYcAiuq #fintech #payments #forex #RTP

United Kingdom, Open Banking Limited: Open Banking Limited CEO Highlights Transition to Industry-Led Model at Open Banking Expo 2025 Open Banking Limited's CEO, Henk Van Hulle, delivered a keynote address at the Open Banking Expo 2025, emphasizing the evolution of the UK's open banking from a regulatory mandate to a model of co-creation and industry leadership. He highlighted the transition from a government-directed framework to one where regulators focus on outcomes and the industry leads delivery, fostering innovation and market expansion. Van Hulle outlined the role of Open Banking Limited as a facilitator and convenor, maintaining standards and enabling collaboration within the ecosystem. He noted significant progress, such as the UK surpassing 15 million open banking users and the integration of open banking by HMRC for tax payments. The address underscored the importance of co-creation in aligning incentives and enhancing consumer trust, while also addressing challenges like commercial sustainability and performance transparency. Van Hulle advocated for international collaboration and harmonization of standards to reduce friction and enhance user experience. The speech concluded with a call for continued partnership among regulators, government, and industry to sustain momentum and drive adoption. Source: https://lnkd.in/esjuW4Fw