Cross-border business-to-business (B2B) payments have always been troublesome for businesses involved in foreign trade. Core issues around timing, certainty, cost and visibility mean there should be a healthy market for alternatives to using your bank’s vanilla international payment service, but none have captured significant share of the market.
Recently a plethora of new initiatives and solutions have come to market, but how does a corporate choose? What factors are in play?
Ring-fencing is a new regulation that requires the largest UK banks to separate their core retail banking services from their investment banking and international banking activities.
The changes this shift will require, impacting many customers whether they are businesses, consumers or indeed other banks, are numerous and complex to say the least.
If you’re battling with international payment processes, you’re not alone.
The processes behind sending payments to different geographies are challenging, time-consuming and relentlessly frustrating.