Why your bank won’t offer instant payments any time soon
While today's technology makes it possible to process payments instantly, deep-rooted issues such as reconciliation, AML, compliance and FX seriously hamper banks’ abilities to evolve.
Any bank worth its salt is investing money and time into blockchain ... and why not when the stakes are so high? According to Santander’s internal estimates, the technology has the capacity to cut infrastructure costs by up to $20 billion for each institution by 2022.
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