Soon after BRICS leaders said they will build a cross-border payments system that bypasses Western platforms, a senior U.S. Treasury official warns that such a system would pose risks to international financial stability if it didn’t adhere to standards aimed at minimizing illicit activity.
Payment hubs can improve the treasury team's efficiency and visibility into payments activity. But achieving these objectives requires careful attention to configuration.
In the retail banking market, the new app, called Zing, has taken on Revolut and Wise. "We want to establish ourselves as a global platform for international payments."
