Clients of StoneX’s payments business, StoneX Payments, will benefit from the adoption of Swift’s pre-payment validation technology.
Swift recently introduced its Payment Pre-validation service, which allows for the verification of beneficiary account details before initiating international payments. While such verification has long been commonplace for domestic payments in several countries, it was not so for cross-border transactions as they are more complex and often involve one or more intermediary banks. This novel service aims to reduce errors, expedite transaction speed and improve straight-through-processing, resulting in a more seamless customer experience.
StoneX Payments facilitates foreign exchange payment transactions in more than 140 currencies and spanning over 180 countries. A distinctive feature of StoneX Payments is its extensive network of over…
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