Opinion of banks on why to modernize their cross-border payment strategy 2023
the market size of B2B cross-border payments is significantly bigger than the consumer-initiated segment, although the latter is forecast to grow the fastest.
Banks listed several reasons in 2023 on why they considered modernizing cross-border payments, with most stating a need to lower costs and reaching new markets. The survey results reveal that no reason stood out much when compared to the others. The top two reasons listed were, for instance, closely followed by a desire to generate more revenue and improve the underlying processes. Estimates are that