Q: How does the correspondent banking model have to change and modernise in light of new technologies – such as blockchain – and the digitalisation of trade?
A: Customers expect more today from their banking experience, and correspondent banking is no exception. Correspondent banking has to respond to changing customer expectations – for instance, by banks offering a faster, more predictable and more transparent means of making cross-border payments. We are working hard on this front with gpi, our global payments innovation service, which is predictable in terms of timing and which allows customers to track their payments.
