Clear Junction has introduced new features to its multi-currency SWIFT service, including outbound payments, named accounts, and integrated foreign exchange (FX) conversion.
This enhanced service allows regulated financial institutions to handle both international SWIFT funding and EU and UK domestic payouts through a single infrastructure provider.
Building upon the company’s initial multi-currency SWIFT launch in November 2025, which supported incoming SWIFT payments only, the new release now enables two-way SWIFT connectivity across 11 currencies, significantly expanding what institutions can accomplish with a single integration.
Simplifying international and domestic payment processes
Clear Junction already offers access to domestic payment rails across the UK and Europe for regulated banks, fintechs, and remittance providers. The expanded SWIFT capabilities are anticipated to enable clients to integrate international funding with domestic payout distribution under a single provider, eliminating the need to manage separate relationships for cross-border and local settlements.
In previous setups, many institutions maintained separate partnerships for EU and UK domestic rails and international SWIFT transfers. The consolidation of these flows aims to streamline treasury management, simplify reconciliation processes, and reduce operational complexity in global remittance corridors.
Financial institutions will now be able to prefund accounts with international banking partners and send outbound SWIFT payments to jurisdictions outside the UK and EU, supporting both peer-to-peer (P2P) and business-to-business (B2B) remittance flows.
There has been strong demand for this expanded service among financial institutions in Asia, particularly those based in Singapore and Hong Kong. These firms often fund into Europe or the UK via SWIFT before distributing payouts through SEPA or Faster Payments. Managing both stages within the same infrastructure is expected to reduce settlement times and improve reconciliation.
The introduction of named accounts addresses a specific operational need in card acquiring, where settlement frameworks require funds to be transferred into accounts held in the institution’s own name. This structure aims to enhance transparency in treasury processes while supporting this requirement.
An official from Clear Junction commented that historically, institutions have had to connect multiple partners to handle cross-border funding and domestic payouts, which adds operational layers and slows down settlement across key corridors. The combined offering is designed to provide optimal visibility over funds and support faster, more reliable payout execution for clients.
