Over the past year, I've had countless conversations with treasury and payment teams at major banks, and I'm often asked the same question: how do we compete with wallet-native fintechs on cross-border payments? But as I tell these teams, this isn't the right question to be asking anymore. Banks no longer need to play catch-up; now they can play to win.
It starts with Swift's payments scheme: the rulebook, built with more than sixty banks, that commits participants to full-value delivery, upfront fee and FX transparency, and end-to-end tracking on international transfers. It's already live across major corridors.
