SWIFT and EuroFinance asked treasurers around the world what they thought. The results were telling.
Pressing issues in cross-border payments
Corporates demand for solutions that will prompt fundamental changes in the cross-border payments space. And these problems are not new: corporates want speed, transparency and traceability when dealing with cross-border payments.
Real-time tracking tops the list
Three quarters of the surveyed corporate treasury professionals placed real-time tracking as their top-of-list priority service.
Fintech adoption – busting the myths
Only 8% use an alternative service provider for cross-border payments. 55% of the respondents have no plans to use alternative providers. The main concerns are security and fraud.
The corporate wish-list for enhanced global payments
Corporate treasury professionals have identified these as their top 5 priorities for change.
- Tracing payments in case of problems
- Consistency in bank payment processes
- Visibility on the cost and deductions from a transaction
- Consistency between the amount sent and amount received, especially when “OUR” charges
- Quality and completeness of remittance information sent with payments