Why Customers Expect Better Cross-Border Payments
In the News
Why Customers Expect Better Cross-Border Payments
For all the modern marvels of today’s global digital economy, one experience remains stubbornly complex: cross-border payments. Whether it’s fluctuating exchange rates, incompatible interfaces or debilitating clearance delays, moving money between countries can still be difficult.
For many banking customers, that’s no longer acceptable. The ease of digital banking has influenced expectations. If we can send money to our friends across town with just one click, why not across 12 time zones in a flash as well? More than ever, payment delays feel outdated and obsolete.
Instant Remittances Make Life Easier
According to EPAM’s Consumer Banking Report 2024, real-time payments are the single most important digital feature consumers expect their banks to offer in the next three years. Similar expectations are held for sending and receiving money across borders. This is especially important for U.S. residents who frequently send funds to support families, friends and investments in another country.
Read the full article here.
See more insights from EPAM’s Consumer Banking Report 2024.
