PYMNTS

APRIL 15, 2020

For foreign payment service providers looking to facilitate cross-border B2B payments into China, the correspondent banking model often remains the only route to facilitate clearing and settlement. “Getting correspondent bank accounts is the biggest challenge every payment service provider is facing. Timing And Control.

Correspondent Bank 76

Correspondent Bank Correspondent Cross-Border B2B 76

PYMNTS

NOVEMBER 21, 2018

A lack of transparency, delays in payment processing and a lack of 24/7 service availability emerged as the top-three pain points for corporate payers transacting across borders. Industry players have warned for several years that correspondent banking is on the decline, yet the drops continue.

Authorization 49

Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

PYMNTS

FEBRUARY 20, 2018

“Although competition and innovations such as mobile or eBanking have made these payments more convenient, the bulk of clearing and settlement for cross-border payments still goes through traditional correspondent banks, which struggle to handle the higher-volume, lower-value retail payments,” the CPMI noted in its report.

Cross-Border Payments 43

Cross-Border Payments Cross-Border International Payments Electronic Funds Transfer (EFT) 43

PYMNTS

NOVEMBER 19, 2018

Despite the efforts of regulators, correspondent banking relationships continue to decline, according to the G20’s Financial Stability Board in a Reuters report late last week. percent drop in correspondent banking last year. percent drop in correspondent banking last year.

Cross-Border Payments 74

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 74

PYMNTS

DECEMBER 14, 2018

Throughout the year, that prediction has manifested into reality, as more traditional financial institutions (FIs) turn toward FinTech innovators to address the biggest pain points of the legacy correspondent banking system. “The nature and direction of these changes, however, [remain] unclear in many cases.” ”

Cross-Border Payments 77

Cross-Border Payments Cross-Border Correspondent Bank Correspondent 77