Correspondent banking and cross-border payments: Is a revival around the corner?

There hasn’t been much good news for correspondent bankers to celebrate recently. Over the last decade, as the level of regulatory oversight and risk has continued to mount, the number of active correspondents has decreased by nearly 30%. At the same time, new cross-border payment services that do not require correspondent relationships, including blockchain-based and card networks, are siphoning away market share.

Yet there is a bright spot: volumes and values continue to rise. Customers also show greater appetite to pay for cross-border services versus domestic ones. Banks that can navigate the complexities of the landscape and create value for their customers can still run successful correspondent banking businesses. 

In this webinar, you’ll learn:

• Challenges and opportunities in the correspondent banking landscape.
• The role of ISO 20022 in the future of correspondent banking.
• How to process cross-border payments more efficiently and create value beyond the rails.
• The role of payments modernization in improving business outcomes.