The Faster Payments Council (FPC) recently released a new research report, The Practicalities of Cross-Border Payments in a Faster Payments World, delving into the history of cross-border payments by examining the evolution from ancient trade routes like the Silk Road to modern-day global financial systems. It explores the challenges faced by financial institutions in correspondent banking relationships, shedding light on regulatory compliance, security concerns, foreign exchange rate risks, and the impact of fintech players entering the field.

This report builds on the FPC’s previous white paper, Cross-Border Faster Payments, focusing on use cases and user expectations for cross-border faster payments.