Fintech innovation is transforming the payments landscape, and as technology continues to evolve, the need to enhance the cross-border payment experience is becoming ever more evident. Indeed, the existing infrastructures in place are far from optimal. Typically taking three-to-five days to settle, cross- border payments are falling short of modern-day expectations.
Writing for FX-MM, BNY Mellon’s Bana Akkad Azhari discusses how banks are collaborating to transform the cross-border payment industry. She writes, “Without doubt, the industry is united in digitising payments, coming together collectively to overcome barriers and leverage technology to bring cross-border payments in line with the evolving needs of clients.”
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