Nium, a Singapore-based cross-border and domestic payment infrastructure provider, announced that financial institutions can now connect to its real-time payments network using their existing Swift capabilities.
The initiative eliminates the need for complex API integrations, allowing banks to process cross-border payments through Nium's network with faster settlement times and improved transparency.
The company claims that more than 80% of payments completed on Nium's network will be settled within 15 minutes and that Swift's GPI tracker will be updated in real time.
Analyst QuickTake: This initiative aligns with the company's USD 50 million fundraising in June, earmarked toward supporting its growth plans in the B2B payment market.
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