FNA Broadcasts

Payment Systems Broadcast #4 - How Challenger FMIs are Revolutionising Cross-border Payments?

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| Claudi Ceresani, DGT Solutions

| Phil Mochan, Nomos

Cross-border payments have always been in the spotlight, often criticized for being slow and costly and unable to cope with the demands for efficient payments among individuals, firms and financial institutions from different jurisdictions.

Challenger financial market infrastructures are trying to solve this long-lived claim for efficient cross-border payments. New technologies and access to flexible and affordable computing services have encouraged the development of solutions that aim to fulfil the demand for better retail and wholesale cross-border payments.

In this session of The Payment Systems Broadcast, we’ll continue the discussion on how challenger FMIs are contributing to solving the cross-border payments conundrum with guests Phil Mochan from Nomos, a new global FMI that supports correspondent banking and Claudio Ceresani from DGT Solutions. Join us as we explore the extent to which FMIs are influencing the cross-border payments ecosystem.

The session covered:

  • The challenge for lower-value transactions within the correspondent baking ecosystem
  • What the banking industry and public sector could gain from lower-value transactions
  • Low-cross remittance
  • Next-generation of cross-border payments and other future developments
  • Risks, policies and solutions around cross-border payments
  • The extent to which challenger FMIs are going to solve cross-border payment problems
    • ...more
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