Re-engineering international payments for a fast, digital age
Stimulated by technological growth and new entrants, the world of international payments is experiencing considerable pressure for change. Transactions across borders have to be faster and simpler. Platforms to send transactions have to be more open, compliant and secure than ever. Even the market providers themselves are no longer bank dominated, with FinTechs and players from outside of the financial sector creating disruption both good and bad. In this session we debate how radically strategy must change – or not – to ensure that banks continue to lead in tomorrow’s international payments space. We will look at the challenges faced, drawing on first-hand experience of instant payments, new technologies and SWIFT’s own global payments innovation initiative, with views from the banking and corporate world.