Diversifying Cross-border Payments for Growth
Cross border business generates a big portion of banks’ revenues, but competition has made the margins relatively smaller.
The banks look at diversifying their cross-border business with multiple options to settle transactions, global networks SWIFT are still the most reliable but expensive at scale. SWIFT has been leading the initiative to modernize its financial messaging standards and creating what they call CBPR+ (cross-border payments and reporting), banks must comply at all levels by November 2025. SWIFT also offers services such as SWIFT GPI to improve on issues such as transparency and speed of payment settlement. Then there are alternate rails, offered by fintechs, that improve margin opportunities and global reach for banks.
Away from the realm of optimizing the existing cross-border payments infrastructure, are the advancements in blockchain networks and tokenization of assets and the use of regulated and unregulated digital currencies. With applications in retail and corporate banking, banks are looking for a way in, and the first step seems to be a solution for interoperability between fiat and token-based transactions.
In this exclusive webinar, “Diversifying Cross-border Payments for Growth,” Temenos specialists, alongside a panel of seasoned industry leaders, discuss the key regulations and trends driving the cross-border payments business across MEA and offer insights and practical advice on how to implement these regulations most effectively.
