Cross-Border Payments

The global financial industry is undergoing a period of significant change, fuelled by a combination of regulation, globalisation, economic crises and socio-political unrest. As new currencies come to the fore and shifts in economic power continue, the requirement for...

CIPS will replace the current arrangement for offshore CNY which uses designated clearing banks. CIPS does not replace SWIFT, but  uses SWIFT messaging and formats. The net result is faster and more reliable cross-border CNY payments for all users. What is CIPS?...