Banks can now use their existing Swift connections to deliver faster, global payments through the Thunes Network, reaching accounts in over 130 countries and meeting growing demand for real-time transfers.
Thunes has made its Pay-to-Banks solution broadly available to financial institutions through existing Swift connectivity. The platform allows the 11,000 banks in the SWIFT network to access Thunes’ Direct Global Network without additional integration, supporting faster business and consumer payouts to 4 billion bank accounts across more than 130 countries.
Thunes’ Pay-to-Banks solution is an account-to-account (A2A) payment service that lets banks send money directly to other banks around the world using their existing Swift connection. Banks don’t need to add any new systems or do extra setup. This allows businesses and people to receive payments faster in their bank accounts, no matter where they are.
The expansion also includes Thunes’ Pay-to-Wallets solution, which enables banks to send global business payments to a recipient’s digital wallet (mobile wallet, e-wallet, or app-based account) via Swift. This development comes as the global B2B payments market grows, reaching $150 trillion in 2024, and builds on the company’s previous launch allowing real-time consumer payments to 3 billion mobile wallets worldwide.
Thunes’ solutions use its SmartX Treasury System for liquidity management and its Fortress Compliance platform for risk control, aiming to combine speed with security and regulatory compliance.
Chloe Mayenobe, President and COO at Thunes, said that by extending access to the Direct Global Network through Swift, banks could provide faster and secure payments across traditional and emerging systems. She noted that the platform helps meet growing demand for cost-effective cross-border transactions and bridges both fiat and digital currencies.
Elie Bertha, Chief Product Officer at Thunes, added that the solutions make it easier for individuals and businesses to send payments internationally, allowing transactions to be completed quickly and securely through existing banking apps.
Besides, Thunes Direct Global Network has recently been boosted with blockchain capabilities. The network will leverage Ripple’s blockchain-powered payments solutions to make cross-border payments more accessible and efficient.
Meanwhile, Swift is striving to enforce clear costs and predictable timing for cross-border retail transactions, promising full value delivery, fee transparency, and instant settlement when local systems permit through its new framework. It will also add a blockchain-based shared ledger to its technology infrastructure to maximise payment architecture choice for the industry.
