SWIFT follows Ripple's model—but will not replace banks

According to CoinWorld, SWIFT has launched a new global payment solution aimed at making cross-border transfers for consumers and small businesses as fast and predictable as domestic payments. The solution is planned to be rolled out in phases starting from 2026, requiring participating banks to provide pre-disclosed fees and exchange rate information, guarantee full amount delivery, and offer end-to-end payment tracking. This move directly addresses long-standing criticisms of the correspondent banking model, particularly regarding transparency and predictability—issues that Ripple has emphasized for years. While SWIFT's solution improves the customer experience, it does not change the underlying settlement mechanism or reduce banks' reliance on pre-funded accounts, leaving room for alternative models such as Ripple's blockchain-based solution in specific transaction corridors.