Breaking News
SWIFT Is Dead: Payments System Is A ‘Bygone Relic’
- Attempted hacks revealed of SWIFT payment system this week
- Follows on from recent cyber attacks recently in which Bangladesh’s central bank lost $101 million
Doron Cohen, CEO of Covercy, a cross-border business payments service enabling up to 80% cheaper transactional fees than traditional banks said:
“SWIFT is simply a bygone relic of a different era. Currently using this system there are at least four institutions involved when transferring money around the world, which means that there is no single owner when a security breach takes place, like this week’s security incident.”
“When such hacks happen, a blame game occurs because of the number of institutions involved in the process, but ultimately the customers are those that suffer the consequences. However, technology has advanced to such a level now that you can work with just one payment institution who has full responsibility for implementing advanced security measures, making such hacks less likely.”
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UK-fintech Provided Over £17.5m in Emergency Wage Advances to More Than 55,000 Employees in the Last Year
PayCaptain, the world’s first B Corp-certified payroll solution, reports a landmark year of growth, with a 73% increase in new customers for 2025 and an average of 70% YoY revenue growth in the last two years. As the cost-of-living crisis deepens, PayCaptain has provided financial agility for 55,000 employees across 260 forward-thinking brands including TGI Fridays, Dishoom, Roadchef, NEOM, Charlie Bigham’s and Monica Vinader dedicated to combining efficient payroll with tools to support the financial health of staff.
TreviPay Announces AI-Powered Growth Center to Help Enterprises Predict Buyer Behavior and Drive B2B Sales
TreviPay, a fully managed B2B payments platform, today announced the availability of the Growth Center, a set of capabilities within the TreviPay Client Portal to help identify buyer growth opportunities more strategically and build stronger, longer-lasting supplier relationships. With its advanced features, the new Growth Center enables businesses to explore buyer needs, spot trends and optimize key steps in the order-to-cash (O2C) process. Integrated into TreviPay’s global payments network, the customizable add-ons will help businesses use their O2C programs to deepen buyer relationships and drive lasting engagement.
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AYU, the global private members' community for family offices and alternative investment funds, is launching AYU Capital, a matching service connecting funds and founders with verified family office investors.
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