Correspondent Banking news and trends

TenureX, Martin Fiddaman Associates Partner to Streamline Correspondent Banking
Partnerships // August 09, 2022

Planning to deliver “correspondent-banking-in-a-box,” Israeli startup TenureX has partnered with U.K. consultancy Martin Fiddaman Associates to help overseas banks in the U.K., challengers and FinTechs engage with correspondent banking services. Because of the banking industry’s continued use of legacy technology, cross-border payments can be poorly...

TransferWise On The Faster Future Of Cross-Border Payments
Payments Innovation // October 16, 2020

Cross-border payments continue to be notorious for being slow and costly, with each FI involved in processing the transaction attaching additional fees. In this month’s The FI’s Guide To Modernizing Digital Payments, Nicholas Lembo, head of Americas growth for TransferWise, discusses how leveraging inter-bank networks...

Report: Helping Banks Speed Payments Cross Border And Make A Clean Correspondent Bank Break
Payments Innovation // October 15, 2020

Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. These difficulties are due to a process called correspondent banking, in which transactions must also be funneled through...

Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing
Smarter Payments // September 24, 2020

Remittances are a lifeline for many individuals around the world, with workers overseas in developed countries frequently sending money back home to support families in emerging economies. These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for...

Interviews & Exclusives
Report: Helping Banks Speed Payments Cross Border And Make A Clean Correspondent Bank Break

October 15, 2020
Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. These difficulties are due to a process called correspondent banking, in which transactions must also be funneled through multiple financial institutions (FIs) before they reach their final destinations. […]

Fixing The UAE’s $46B Remittance Problem

June 08, 2020
Cross-border payments are expected to hit $39 trillion by 2022, with $572 million worth of payments consisting of remittances sent from migrant workers to their families abroad. These payments can...

Will Ripple’s Cross-Border Ambitions Sink Or Swim?

January 09, 2019
Ripple has seen more than 200 banks sign on to its blockchain powered cross border payment efforts. Progress?  Sure, but perhaps a sea change is not in the offing for...

Quick Reads
Deutsche Bank Debuts Correspondent Banking Solution dbX

October 14, 2024
Deutsche Bank has debuted a suite of correspondent banking solutions for its clients. Announced Monday (Oct. 14) by the banking giant’s institutional cash and trade arm, dbX is designed to give “financial institutions new and enhanced functions to better leverage its global network in a fully integrated corresponding banking ecosystem.” The first phase of the roll-out […]

TenureX, Martin Fiddaman Associates Partner to Streamline Correspondent Banking

August 09, 2022
Planning to deliver “correspondent-banking-in-a-box,” Israeli startup TenureX has partnered with U.K. consultancy Martin Fiddaman Associates to help overseas banks in the U.K., challengers and FinTechs engage with correspondent banking services....

Deutsche Shrinks Correspondent Banking Post-Danske AML Scandal

February 04, 2019
In the wake of an investigation of over 200 billion euros ($229 billion) in suspected money laundering at Danske Bank’s Estonia branch, Deutsche Bank has said it has sharply cut...

Correspondent Banking Declines Amid Regulatory Pressures, Says IMF

September 11, 2017
A new report from the International Finance Corporation, a part of the World Bank Group, finds correspondent banking relationships are down, an unintended consequence of regulatory reform. Reports in The Financial...