Swift aims to lower payment friction by introducing a new capability; & more

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: This podcast episode is sponsored by Belvo. Instantly access and enrich all financial data from multiple accounts through a single platform to better understand and serve your customers. From lending to smart saving, Belvo will help you create what your users need Welcome to your daily FinTech news! NEWS HIGHLIGHT Swift aims to lower payment friction by introducing a new capability that flags when payments may stall upfront. The new service analyses previous flows on the Swift network to identify accounts that have been credited successfully and uses this information to detect potential errors in payee information - the most common cause of cross-border delays. Link here. FINTECH NEWS #nfts OpenSea’s trading vol is down 99% in USD from its May peak. On May 1, OpenSea processed a record $2.7 billion in NFT transactions, but on Sunday, the marketplace recorded just $9.34 million. BTC has declined nearly 57% since the start of the year to $20,276, and ETH has fallen about 59%, to $1,528, over the same period. Link here.