Cross-border payments players globally saw a 35% decline in M&A activities in the first three quarters 2023, according to analysis from FXC Intelligence.
The partnership offers suppliers access to payments at an earlier stage of the traditional supply chain, enabling more efficient release of working capital.
The partnership will enable GTreasury’s network of more than 800 large corporate and enterprise clients to integrate with Convera’s payments platform, enabling access to global banking networks.
The payments player has proven interoperability between legacy and emerging infrastructure to enable cross-border use of CBDCs, but questions around financial intermediation and credit provision remain.
Investment in new systems and processes is necessary if treasurers want to realise the full benefits of improvements in cross-border payments, explains OMFIF executive.