SWIFT has announced a new global payments scheme aimed at making cross-border transfers for consumers and small businesses as fast and predictable as domestic payments. The initiative, set to launch in phases in 2026, will begin with a minimum viable product in the first half of the year. Over 40 banks are collaborating on this framework, which promises upfront fee disclosures, guaranteed full-value delivery, and end-to-end payment visibility. This move by SWIFT addresses long-standing issues in cross-border payments, such as slow delivery and unpredictable costs, which have been highlighted by fintech firms like Ripple. While SWIFT's new scheme enhances transparency and predictability, it maintains the traditional correspondent banking model, requiring pre-funded accounts and not altering the settlement process. Meanwhile, Ripple continues to explore blockchain-based solutions to improve liquidity and reduce capital costs in specific corridors.