Huge, Non-Glam, Less-Talked-About Segment in FinServ: Cross-Border Corporate Payments

September 9, 2018

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The inefficiency and myriad of other issues with cross-border corporate payments have baffled me for long as a serial entrepreneur. The lack of transparency is astonishing, especially if you are a small business. There is little clarity on the FX rates and transfer fees charged by banks and MTOs. The current process makes it difficult for the sender to check the status of money transfer at any given time. While large corporates have been able to negotiate better terms and tend to be well-served by existing solutions, SMEs find themselves in a position where they are limited in finding the best solutions and have to deal with expensive terms for their cross-border transfers.

The process of making cross-border payments is complex with the involvement of multiple intermediaries with ...

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