Correspondent Bank Cross-Border Payments Mitigation 
PYMNTS
OCTOBER 19, 2020
These challenges are only exacerbated when payments move across international borders, usually accomplished via correspondence banking. Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments.
The Fintech Times
FEBRUARY 28, 2024
When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Having explored the evolution of cross-border payments to date, we now turn our attention to the biggest barriers that may be limiting and slowing the growth of the space.
PYMNTS
JULY 15, 2020
.” That means being able to send and receive payment regardless of location, yet traditional offerings often fall short, he said. An alternative to this payment strategy is to open up a bank account in each market in which a business operates.
PYMNTS
JUNE 8, 2020
Cross-border payments are expected to hit $39 trillion by 2022, with $572 million worth of payments consisting of remittances sent from migrant workers to their families abroad. Developments From Around The World of Smarter Payments. Deep Dive: How Correspondent Banking Makes Remittances Sluggish And Expensive.
PYMNTS
OCTOBER 6, 2016
All of this has occurred as the company has continued to expand the pilot phase of its global payments innovation (gpi) initiative, thus far signing on dozens of major financial institutions to an effort aimed at streamlining cross-border payments. “That’s something I think is very important to know.”
PYMNTS
OCTOBER 2, 2018
Cross-border payments technology provider AscendantFX is bolstering its offering for financial institutions (FIs) through an integration with WireXchange, the wire transfer service operated by Fiserv. The integration follows ongoing change in the payments landscape, leading banks to demand more agile, efficient payment services.
PYMNTS
JANUARY 13, 2020
INTL FCStone’s Global Payments Division maintains an estimated 350 correspondent banking relationships. In 2017, the division joined SWIFT’s gpi (global payments innovation initiative) to support faster, seamless cross-border transactions and address some of the biggest points of friction in traditional correspondent banking.
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