Sibos 2018: New McKinsey joint research with SWIFT on the future of cross-border payments

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Management consulting firm McKinsey has published their latest report on the Future of Cross-Border Payments in conjunction with SWIFT, at the Sibos Conference in Sydney.

The joint research report pointed out that although cross-border payments represent only one-sixth of total transaction values, international payments revenues total up to $200 billion globally.

Not only focusing on the past growth of cross-border payments industry, but the report also goes into the ways in which the industry could develop with respect to the current trends.

The key points of the report include:

  • The future growth in cross-border payments from unexpected sources
  • How customers, not providers, are shaping the future services
  • The importance of a single integrated experience in the future, no matter how fragmented the value chain
  • An update on the unlikelihood of a Single Global Payment Area
  • The importance of liquidity
  • Update on regulation in payments

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