Cost reduction, increased visibility and certainty of international remittances. Further globalization of business is driving the need for banks and businesses to easily transfer money across borders and continents. The current inter-bank, cross-border payment process is confusing and broken with correspondent banks adding many hoops and costs along the way for international payments.
Rethinking cross-border payments.
Cross-border payments are therefore expensive, slow and often require manual intervention. In addition, cross-border payments are non-transparent with little or no visibility of timing and costs. Overall, the user experience is poor and banks are seeing an influx of competitors that are competing for cross-border payments with their customers.
Current Inter-bank, Cross-Border Payment Process
The nanopay platform solves intricacies and challenges of cross-border payments and has superior liquidity management compared to other solutions. nanopay can help banks reinvent their cross-border payment process to make it as simple as sending an email!