The exponential growth of fintech innovation in recent years has brought remarkable upgrades to Latin America’s financial services – most notably in the efficiency and ease of retail and domestic payments. But, despite this impressive progress, there is still a great deal to do when it comes to modernizing global transactions. Furthermore, owing to the emergence of new trade corridors to the Latin American market – particularly from Asia – meeting the demand for real-time cross-border corporate payments has become a greater priority than ever before for the region.
In Latin Finance, Dino Sani, Head of Sales & Relationship Management for Latin America, Treasury Services, BNY Mellon, discusses the importance of technological innovation and bank collaboration across the Latin American banking landscape. In particular, Sani examines the current and potential impact of initiatives such as SWIFT’s global payments initiative (gpi), ISO 20022, and blockchain. Sino emphasises that while these enterprising technologies are making waves in Latin America, it is through banks collaboration that they can reach their full potential and bring in a new era for finance in Latin America.
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