News — Remittances

Money constantly flows across borders in the increasingly interconnected global economy, from workers overseas back to their families, and from buyers to their suppliers. Any complications cause major headaches, and international payments are often more involved and costly than those made domestically. They frequently face delays and rack up fees as they pass through multiple FIs, and parties making these payments often wrestle with currency conversions and value fluctuations. This month’s Deep Dive explores the frictions currently afflicting the B2B cross-border payments and P2P remittances spaces, as well as the solutions being developed to accelerate transactions and reduce pain points...