Cross-Border Real-Time Payments: Implementation Requires Cooperation

Currency exchange and time zones are challenges that can only be overcome by agreement between counterparties, according to a new Aite Group report.

London, 13 February, 2020 — Providers and users of international banking infrastructures are increasingly looking at mechanisms to support cross-border, multicurrency transactions in real time. Aite Group knowledge of the market coupled with analysis of publicly sourced data shows that, with some exceptions, a lack of international collaboration will hamper financial institutions’ ability to capitalize on the opportunities that real-time, API-enabled open banking infrastructures create. The latest Aite Group report, Cross-Border Real-Time Payments: Implementation Requires Cooperation, explores the development of mechanisms that can link payment infrastructures to enable cross-border, multicurrency payments. 

“A sizeable 67% of respondents in an Aite Group survey indicate that there will be links between domestic immediate payments infrastructures and international payments in the near to medium term,” states David Bannister, senior analyst at Aite Group.

This report examines the progress and approaches of ongoing industry efforts in this area, how they interact with other industry developments, and how corporate banks must factor in the effects of these developments on their plans to remain competitive in a rapidly changing market landscape. It is based primarily on Aite Group analysis of publicly available statements from regulators and service operators, and interviews with senior international executives at banks, regulators, market infrastructures, and vendors.  

To request a press copy of this report or to speak with David Bannister about this topic, please contact us at [email protected].

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:
Siobhan Scanlan
Public Relations
[email protected]

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