So many new players and innovations are emerging its challenging to keep up with them all. Real Time Payments has been my current area of research and investigation and it’s been really eye opening to see what solutions are out there, what’s in development and where things are going.
First off – I have found that not every provider offers true “real time” – as in money movement within minutes vs. days.
Update to this point “ real time “ cross border money movement does exist in a few different flavors from the Card networks to some newer players who can deliver.as Compliance and AML are handled and there are a select range of financial institutions who are signing up for this opportunity because guess what – it’s a need that seems to be growing everyday.
There are Fintechs out there though that will provide the rails for the flow of payments whether it’s domestic or cross border – the speed and compliance factors need to be taken under consideration. It’s been fun figuring out who offers what and where and I am looking forward to understanding the underlying technology that makes money movement possible.