Cross-border payments systems: Regulation, innovation and the impact of new entrants

Abstract

The global payments landscape is undergoing a radical transformation thanks to the combined impact of fast-changing technology, the ever-growing presence of non-banks, evolving client expectations, increasing regulation and shifting global demographics. In fact, the payments space is changing faster than ever before. If banks are not just to survive, but thrive in this new world of payments, they must ensure that they respond quickly and effectively with recalibrated holistic solutions that address the increasingly cross-border nature of client transactions. This paper investigates the key factors influencing the payments business and examines strategies that banks can adopt to ensure that they remain a driving force as the future of payments takes hold.