{"id":16788,"date":"2022-08-16T21:28:07","date_gmt":"2022-08-16T21:28:07","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=16788"},"modified":"2022-08-16T21:28:07","modified_gmt":"2022-08-16T21:28:07","slug":"swift-to-face-increasing-challenges-in-cross-border-payments","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/swift-to-face-increasing-challenges-in-cross-border-payments\/","title":{"rendered":"Swift to Face Increasing Challenges in Cross-Border Payments"},"content":{"rendered":"<p>Domestic digital payment usage surged during the pandemic, and now customers are increasingly demanding a similar revolution in cross-border payments. At the center of this is the Swift network, which is often considered relatively inflexible and lacking in transparency. With Russia recently kicked off of the network, Russia and other countries (e.g. China, India) are doubling down on their own Swift alternatives. Even if such systems do not come to replace Swift, they will inevitably have an impact on improving it. In addition to these systems, cross-border payments are being disrupted by government-backed efforts to link systems and more easily allow customers to access and use their funds in different countries. Swift has much work to do if it is to survive the onslaught of challenges it is facing.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-16788 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Russia creates state agency to combat cyber threats'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/russia-creates-state-agency-to-combat-cyber-threats\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/russia-creates-state-agency-to-combat-cyber-threats-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11167\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11167'>\n\t\t\t\tRussia creates state agency to combat cyber threats\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Mobile Finance Report 2020 benchmarks banking and payment apps'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/mobile-finance-report-2020-benchmarks-banking-and-payment-apps\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/12\/2bca6d96-a2af-40d9-a9ff-635e3fa5e6da1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15579\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15579'>\n\t\t\t\tMobile Finance Report 2020 benchmarks banking and payment apps\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Russia\u2019s problem with high-skilled expatriation'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/russia-s-problem-with-high-skilled-expatriation\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/03\/russia-s-problem-with-high-skilled-expatriation-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12508\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12508'>\n\t\t\t\tRussia\u2019s problem with high-skilled expatriation\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Domestic digital payment usage surged during the pandemic, and now customers are increasingly demanding a similar revolution in cross-border payments. At the center of this is the Swift network, which is often considered relatively inflexible and lacking in transparency. With Russia recently kicked off of the network, Russia and other countries (e.g. China, India) are &hellip;<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16788"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=16788"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16788\/revisions"}],"predecessor-version":[{"id":16789,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16788\/revisions\/16789"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=16788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=16788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=16788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}