It's time to modernize cross-border payments
Don’t get stuck in the status quo. With fintechs stealing market share, it’s time to modernize your cross-border payments strategy. Learn how to achieve greater speed, transparency and cost savings through technology. Read more.
Fintechs have embraced new technology to transform the industry, while banks are largely entrenched in the status quo. The need for increased transparency in cross-border payments is a top priority for many institutions, as it can reduce the extensive costs associated with sending and receiving funds across borders. Fintech products offer faster payment capabilities, with some providers offering instant payment capabilities, which could encourage more consumers to make international transfers. The lack of transparency in bank processes also hinders business customer growth, with business payments making up the largest share of transactions. Therefore, modernization is necessary to maintain a competitive advantage in cross-border payments.