Correspondent banking in a digital world
As digitization moves rapidly globally, transaction participants such as merchants, consumers look to the banks for enabling near real-time or real time payments. The main constraint for banks to move funds in real-time is technology or blockchain etc. is a misnomer or a misconception. The primary reason is compliance. Therefore embedding compliance in payments is important to support real-time payments. CBW Bank has been practicing this approach for the past few years and this talk will provide a broad overview of this approach.