In today’s digital era, end-users expect payments to be faster, cheaper and more convenient than ever before – whether domestic or cross-border. As global payment barriers are overcome, banks are tasked not only with meeting customer demands, but business and regulatory ones too.
Enhanced cross-border payments – as supported by the G20’s roadmap and the richer data that ISO 20022 provides – are becoming a real differentiator, with the capability to unlock tremendous value for institutions. However, while a lot of attention is paid to seamless transactions, one area has historically been overlooked: exceptions and investigations (E&I).
This continues to present a significant challenge for both payment providers and corporates, and is impacting numerous networks and technologies. Yet, if harnessed effectively, E&I tools can help institutions significantly reduce costs, speed up processing times, improve transparency and, by extension, satisfy the G20’s targets.
This Finextra impact study, in partnership with Swift, explores:
- The advantages of effective E&I processes;
- Why solutions are needed to reach the next level; and
- How banks can effectively embed them in their infrastructures.