Frictionless payments and the future of correspondent banking

SL2_SHKB 2018-10-22T13:15:00.000Z

roomCode
SL2_SHKB
Room
SWIFT Hub Knowledge Bar
Date
-
Dawid Janas
Director - Head of USD Clearing
Citi

A large scale transformation is underway across the cross-border payments ecosystem. Gone are the days where the historically opaque and inconsistent cross-border payments process was seen as acceptable by end users or sustainable by the industry. Fundamental shifts in client expectations and available technology, coupled with a proliferation of new payment intermediaries and infrastructures, are catalysts for this transformation, as are developments taking place in the correspondent banking network itself. With SWIFT’s global payments innovation (gpi) as a foundational component, let’s take a closer look at how the correspondent banking ecosystem is re-inventing itself, and what this means for banks and their customers.

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