Harry Newman, Head of Banking, SWIFT, talks about the challenges facing banks in the area of cross-border payments – including the need to balance ubiquity with the demands of compliance, and the role of collaboration between SWIFT, the banks, the fintechs and the national authorities to bring new correspondent banking solutions to market, and deliver a better, more predictable and more transparent service to corporates.
The interview coincides with a fresh announcement from Swift that an additional 22 banks have joined its gpi blockchain proof of concept (PoC), designed to validate whether the technology can help banks reconcile their international nostro accounts in real time.
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