Leveraging Real-Time Cross-Border Payments: A report from Finastra, Accenture, and Kapronasia
The global economy is growing more interconnected and digitized. As such, there is an industry-wide consensus that revenues from cross-border payments will rise from US$144 billion in 2014 to roughly US$280 billion in 2024, driven by a surge in payment volumes.
Instant cross-border payments will be instrumental to this trend, yet their implementation involves particular challenges. Compared to payments in a unified domestic market, the challenges in the cross-border space are more complicated because of the multiple currencies and regulatory systems involved. It is essential to ensure compliance with the disparate anti-money-laundering regulations of different jurisdictions without impairing the customer experience. In this dynamic industry landscape, banks will need to adopt new technologies and working models to ensure they stay out in front of the ascendant cross-border payments trend..
To download the New Payment Models and Opportunities Report, written in collaboration with Finastra and Accenture, please fill in the following form:
Related Reports
Related posts
Future-Proofing Digital Asset Custody: Why Asia Pacific Banks Must Act Now
Building a Data-Driven Culture: Transforming Financial Institutions
