Cross-border payments have witnessed immense transformation and disruption in the past ten years driven by significant advances in technology, proliferation of mobile & internet, regulatory changes and government drive. Investments in Fintechs have been close to $1.2 trillion in the past decade (grown by close to 15 times) of which Payment Fintechs have taken lion’s share of more than 30%!
The session focused on providing a deeper understanding of cross-border payments, the evolving landscape, challenges, regulatory environment, and emerging trends. Importantly, the need for banks to remain agile and competitive to lead in this exciting space.
We also spoke about the impact and opportunities from emerging technologies like AI, ML, DeFi, digital currencies, CBDCs, Web3.0, blockchain, ISO 20022 etc.
Many thanks to Philip Kam, Kathy Chan and Chloe Zhou from The Hong Kong Institute of Bankers for arranging the session and engaging Finsight Global Consulting Limited. #crossborderpayments #trendsinpayments #bankstrategy