PODCAST: Real-time cross-border payments

Payments drive the financial services industry. As the world becomes a more global marketplace, real-time cross-border payments are fast becoming table stakes for financial institutions, regulators, processors, and other third-party stakeholders.

This episode of the CUNA News Podcast, sponsored by Alacriti, examines the state of real-time cross border payments. Mark Majeske, Alacriti’s senior vice president of faster payments, says most consumers traditionally have relied on wire transfers to send money internationally.

But real-time payments are more timely, efficient, and cost effective, he says. Those are some reasons for the push by key financial system players to bring real-time payments to the cross-border transfer environment.

Majeske also explains how close we are to realizing real-time cross border payments. This includes meeting challenges such as interoperability and fraud.

 

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