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Cross-Border Payments

Accelerating the modernization of your cross-border payments functionality.

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In an increasingly connected world, cross-border payments have never been more critical. With the international mobility of goods, services, capital and people at an all-time high, cross-border payments are the backbone of global commerce. Payment services providers stand at the crossroads of this dynamic landscape, where the value of cross-border payments is set to skyrocket from $150 trillion in 2017 to over $250 trillion by 2027, according to the Bank of England. This is a staggering increase of over $100 trillion in just a decade*.

How can payments service providers stand out?

 To remain competitive, payments service providers need to:

  • Expand Capabilities: Through leveraging technologies that allow for multiple distribution pathways, smart routing and real-time payment flows to any destination.
  • Enhance Efficiency: Automated processes help reduce costs, speed up payment delivery times and improve overall customer experience.
  • Improve The Customer Experience: Cross-border payments offer faster, lower-cost transactions with real-time tracking and broad network integration for reliability and security. Additionally, they provide the ability to support real-time payments and provide instant updates so that customers can track their transactions in real-time.
  • Mitigate Risks: Integrating advanced risk management features help ensure security and compliance in an ever-changing regulatory environment.

How Temenos can help

By leveraging Temenos’ software, payments service providers can ensure compliance, reduce costs, accelerate time-to-market for new products and enhance customer experiences. Our cloud-native, API-first platform is specifically designed to make cross-border payment services not just competitive, but market-leading.

If you’re ready to transform your cross-border payments and unlock new opportunities for growth, Temenos is ready to help. Reach out to them today to learn how their solution can elevate your business and keep you ahead of the competition.

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*https://www.bankofengland.co.uk/payment-and-settlement/cross-border-payments