- How is the macro-economic environment reshaping global trade and payment requirements?
- Currency diversification is accelerating; how are geo-political tensions and shifting trade flows reshaping global payment demands?
- Client expectations in cross-border payments are on the rise; how are banks navigating these demands to stay competitive?
- Multi-currency clearing is no longer optional; how are FIs evolving their strategies to support growth and resilience?
As the global macroeconomic environment becomes more unpredictable, transaction banking is undergoing unprecedented change.
Increased geo-political and trade uncertainty; intensifying currency diversification needs; shifting client demands; and the impending ISO 20022 migration deadline are accelerating the need for cost-effective access to multi-currency clearing and settlement.
According to the Bank of England, the value of cross-border payments will hit $250 trillion by 2027. Evidently, economic uncertainty is supercharging institutions’ currency diversification requirements; and, though the dollar remains the reserve currency, FIs are increasingly turning to multi-currency solutions within emerging markets, such as the Renminbi and Rupee.
But the geo-economic domain is not the only source of change. There are new cross-border data requirements, soaring demands for real-time notifications, as well as evolving blockchain technologies and increased application programming interface (API) integration. Against this backdrop, institutions’ long-term stability and growth will hinge on the strength of their interbank relationship, its global reach, connectivity, and of course, the vision.
Sign up for this Finextra webinar, hosted in association with Standard Chartered, to hear our panel of experts discuss the benefits of diversification in settlement currencies, against the backdrop of strong geo-political headwinds.
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