X-border payments: New approaches to reaching customers in a digital world
In a world where money has been “digital” for decades, consumers are confused as to how they can send a message to a relative across the world in nano-seconds but sending money feels like it’s still physically taken by stagecoach in many cases. The last few years has changed all this and we no longer have to stand in queues at the money transfer office. It’s now as simple as downloading an app or logging onto a website and pretty much any form of payment can be directed anywhere in the world. The innovation involved in dealing with AML, KYC, fraud, risk security and all the rest of the elements required to achieve this should not be underestimated. What more could the future possibly hold?