Andrew Moseley Cross-border payments remain slow, expensive, and opaque due to fragmented regulatory requirements and legacy correspondent banking networks. Over the next 18-24 months, we envision that more organisations will adopt ISO 20022, which will standardise messaging across payment networks, improving interoperability and transparency.
In preparation, we’ re prioritising working with financial institutions and payment networks to invest and integrate instant payment cross-border capabilities, reducing settlement times and costs.