PYMNTS

MAY 3, 2019

. “These are all issues emanating from the traditional correspondent banking infrastructure,” explained Banking Circle CEO Anders la Cour at the time. for example, 2016 research from Covercy found SMBs that send just 20 cross-border transactions a month at $13,000 each will pay more than $2,700 a month in fees.

Global Payments 60

Global Payments Cross-Border Payments Cross-Border Small Business 60

PYMNTS

FEBRUARY 8, 2018

China’s renminbi (RMB) is one global currency that is pushing its international standing, but new data from SWIFT released earlier this month found 2017 was a mixed year for the currency. Research released by Atradius last October predicted the nation’s economic growth to slow. RMB usage made up 1.61 RMB usage made up 1.61

B2B 44

B2B Cross-Border Payments Cross-Border Innovation 44

PYMNTS

OCTOBER 24, 2019

Swift recently announced that its gpi service can integrate with domestic real-time systems to facilitate rapid cross-border transactions. A trial of the service included one test in which it delivered a payment from Singapore’s FAST scheme through 17 banks and seven countries within 13 seconds.

Cross-Border Payments 42

Cross-Border Payments Cross-Border B2B FedNow 42

PYMNTS

FEBRUARY 20, 2018

“Although competition and innovations such as mobile or eBanking have made these payments more convenient, the bulk of clearing and settlement for cross-border payments still goes through traditional correspondent banks, which struggle to handle the higher-volume, lower-value retail payments,” the CPMI noted in its report.

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

OCTOBER 22, 2019

The cross-border business payments market is significant, as Medici research finds that international accounts payable (AP) by small- and medium-sized businesses (SMBs) currently hold approximately $7 trillion, and marketplace payouts amount to about $8 trillion. International B2B Payments Pains.

Cross-Border Payments 41

Cross-Border Payments Cross-Border P2P B2B 41

PYMNTS

DECEMBER 18, 2019

New research from Tipalti, conducted by Levvel Research, found that when it comes to cross-border B2B payments, wire transfers remain the most common method (cited by 69 percent of survey respondents), despite the high fraud risks and sluggish speed of the tool. In B2B payments, though, legacy tools continue to lead.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

PYMNTS

DECEMBER 14, 2018

Throughout the year, that prediction has manifested into reality, as more traditional financial institutions (FIs) turn toward FinTech innovators to address the biggest pain points of the legacy correspondent banking system. The challenges for service providers are lengthy, yet worth the trouble. ”

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 77

CB Insights

FEBRUARY 8, 2018

Yet at the same time, according to a survey by The International Securities Association, 55% of companies polled are monitoring, researching, or developing solutions on top of blockchain. But this very loud and public backlash against cryptocurrencies from banks begs the question: What do banks have to be afraid of?

Blockchain 78

Blockchain Bitcoin Correspondent Bank Cryptocurrency 78

PYMNTS

NOVEMBER 27, 2018

In a new report , “A vision for the future of cross-border payments,” SWIFT and McKinsey & Company found that B2B cross-border transactions accounted for $125 billion in revenues last year. A handful of factors are driving growth in the overall industry, researchers noted.

Cross-Border Payments 49

Cross-Border Payments Cross-Border SWIFT Correspondent Bank 49