Cross border payments

JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options?

Swift is showing more swagger in its rivalry with Ripple thanks to progress it has made with a multifaceted payments-tracking technology called GPI.

Ripple Labs Inc., the blockchain startup whose digital money is often used as a proxy for other cryptocurrency payments, is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, Chief Executive Officer Brad Garlinghouse said.

American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business.

At this year’s Swift Business Forum in New York, executives said banks can build "more intelligent routing" to speed up payments and reduce the cost of processing and delivery.