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The benefits of standardized data formats and exchanges in financial services are myriad. Banks are moving toward the ISO 20022 financial messaging standard, tied to Swift, which noted that the open standard can be used for all types of financial transactions, including cross-border fund flows. The messaging formats support the inexorable global movement toward real-time payment, with 68% of businesses telling PYMNTS that they plan to adopt instant payments in the next two years via the RTP® Network or FedNow® Service . Certain verticals are outpacing that overall percentage in terms of intent: 81% of companies in consumer and retails plan to harness instant payments, followed by 75% in hospitality and leisure, and 70% in healthcare. But the banks’ shift has some challenges in place, as legacy messaging formats still must be transitioned and translated into ISO 20022, and batch processes that have been around for decades must be moved to real-time status. A few deadlines are nearing in the upcoming year: In March, Federal Reserve banks in the United States will have to implement the standard for the Fedwire Funds Service. By November, financial institutions (FIs) will have to be ISO 20022-compliant as they look to send and receive payments internationally. But recent stats by Deutsche Bank state that only about 27% of banks are fully compliant with, and have adopted, the standard. End of the Coexistence As PYMNTS reported last week, more than 1 million ISO 20022-formatted messages are already being sent over the Swift network every day. These messages are being sent to 220 countries and territories around the world, Swift said in a Wednesday (Dec. 11) news release. November 2025 will mark the end of what’s known as the “coexistence” period between MT messaging, which can be termed legacy messaging, and ISO 20022. In documentation available on sites such as the Faster Payments Council, the newer messaging formats are noted to have unique data fields, as well as a growing number of data points that can be transmitted between FIs. PYMNTS has noted in past coverage that the implementation deadlines had been delayed. But for the banks that are eyeing the span of about 11 months to get ready for the end of the aforementioned co-existence, enlisting the aid of outside providers to ensure compliance is part of a forward-thinking strategy. In one example, Finastra said in May that it completed testing and certification through the Federal Reserve for ISO 20022, becoming one of the first vendors in the industry to complete the process for multiple solutions. It had certified Payments To Go, Global PAYplus, PAYplus USA and PAYplus Connect, offering multiple solutions for FIs to meet the standards for FedWire. As PYMNTS reported last month , Volante Technologies has expanded the capabilities of its Volante Payments Platform by adding Volante Intelligence, which enables FIs to address the challenges posed ISO 20022. The company said in May that it achieved Fedwire Funds Service certification for the ISO 20022 messaging capabilities of its wire payment processing solutions. Meanwhile, payment solutions firm Finzly said in October that its platform enables FIs’ ISO 20022 readiness for Swift and Fedwire, with the option to send messages in custom formats or ISO 20022, along with operational readiness testing.
MADRID (AP) — Real Valladolid beat Valencia 1-0 and rose off the bottom of La Liga on Friday. Moroccan forward Anuar scored with a solo effort after 19 minutes. “It's a sense of relief because we needed the three points,” Anuar said on broadcaster DAZN. “It was like a final, and fortunately, we managed to come out on top.” Valladolid's Juanmi Latasa was sent off 12 minutes from time after a video review showed he used an elbow, but the home side managed to hold on for the win against a toothless rival. It was a welcome three points for caretaker coach Álvaro Rubio and his first since replacing Paulo Pezzolano, who was fired at the start of December. Valencia replaced Valladolid on the bottom of the table. Valencia has only two wins in 15 league games, but two games in hand. AP soccer: https://apnews.com/hub/soccer
What We Know About Luigi Mangione, Arrested in Connection with UHC CEO KillingPolice arrested a 26-year-old man on Monday in the Manhattan killing of UnitedHealthcare’s CEO after they say a Pennsylvania McDonald's worker alerted authorities to a customer who resembled the suspected gunman. The suspect, identified by police as Luigi Nicholas Mangione, had a gun believed to be the one used in Wednesday’s attack on Brian Thompson , as well as writings expressing anger at corporate America, police said. Here are some of the latest developments in the ongoing investigation: Mangione was taken into custody at around 9:15 a.m. after police received a tip that he was eating at a McDonald’s in Altoona, Pennsylvania, about 85 miles (137 kilometers) east of Pittsburgh, police said. Mangione was being held in Pennsylvania on gun charges and will eventually be extradited to New York to face charges in connection with Thompson’s death, said NYPD Chief of Detectives Joseph Kenny. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” Kenny said Mangione also had a ghost gun , a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said at a news conference. Officers also found a suppressor, “consistent with the weapon used in the murder,” the commissioner said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, Tisch said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu, Hawaii. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. Some of the city’s wealthiest and most prominent people, including Orioles legend Cal Ripken Jr., have had children attend the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things,” according to a post on the school website. He praised their collective inventiveness and pioneering mindset. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. Luigi Mangione is one of 37 grandchildren of Nick Mangione, according to his obituary. Luigi Mangione's grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes ranging from Catholic organizations to colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione. A spokesman for the lawmaker's office confirmed the relationship Monday. Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Just 11 minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspected shooter exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene in Baltimore and Cedar Attanasio in New York contributed to this report. 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Jordan Ivy-Curry, UCF aim to topple Tulsa