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Thursday, 06 June, 2024
2:00 PM GST | 12:00 PM SAST

Diversifying Cross-border Payments for Growth

Cross border business generates a big portion of banks' revenues, but competition has made the margins relatively smaller.

In partnership with

Tokyo
Why attend

The banks look at diversifying their cross-border business with multiple options to settle transactions, global networks SWIFT are still the most reliable but expensive at scale. SWIFT has been leading the initiative to modernize its financial messaging standards and creating what they call CBPR+ (cross-border payments and reporting), banks must comply at all levels by November 2025. SWIFT also offers services such as SWIFT GPI to improve on issues such as transparency and speed of payment settlement. Then there are alternate rails, offered by fintechs, that improve margin opportunities and global reach for banks.

Away from the realm of optimizing the existing cross-order payments infrastructure, are the advancements in blockchain networks and tokenization of assets and the use of regulated and unregulated digital currencies. With applications in retail and corporate banking, banks are looking for a way in, and the first step seems to be a solution for interoperability between fiat and token-based transactions.

In this exclusive webinar, "Diversifying Cross-border Payments for Growth,” Temenos specialists, alongside a panel of seasoned industry leaders, discuss the key regulations and trends driving the cross-border payments business across MEA and offer insights and practical advice on how to implement these regulations most effectively.

The key take-aways

Understanding the Landscape: Gain a comprehensive understanding of the current cross-border payments landscape, including the dominance of SWIFT networks, their modernization efforts through CBPR+, and the emergence of alternative fintech solutions.

Navigating Regulatory Compliance: Learn about the critical regulatory deadlines, such as the November 2025 compliance mandate for CBPR+, and gain insights into how to navigate these regulations effectively to avoid penalties and ensure seamless operations.

Exploring Fintech Solutions: Discover the potential of fintech solutions in enhancing margin opportunities and expanding global reach for banks, providing viable alternatives to traditional SWIFT networks and offering improvements in transparency and speed of payment settlement.

Embracing Blockchain and Tokenization: Explore advancements in blockchain networks and asset tokenization, exploring their application in retail and corporate banking. Viewers will learn about the potential benefits and challenges of integrating these technologies into existing infrastructures, with a focus on achieving interoperability between fiat and token-based transactions.

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The webinar panel

Click to view full speaker details

This webinar is in partnership with

TEMENOS

We constantly innovate to combine rich, out-of-the-box functionality with cutting-edge technology. Our single code base means every dollar we invest benefits all our customers. We help our clients create new growth opportunities, drive efficiencies at scale and achieve cost-to-income ratios at half the industry average. We do this by offering open, composable, cloud-based banking services at a fraction of the cost of legacy systems.

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