New research amongst payments professionals to
be presented by Saxo Payments
at European Payment Summit
March 2017 – New research conducted by ground-breaking payments innovator, Saxo
Payments, has revealed the potential impact of the UK’s exit from the European
Union amongst payments professionals. Anders la Cour, founder and CEO of
Saxo Payments presented the findings at the European Payment Summit, in The Hague,
as he examined the opportunities for the next generation of cross border
about the potential impact of the UK’s exit from the European Union, more than
a third of those who responded to the Saxo Payments survey said they are considering
moving operations currently in the UK before the country’s exit. Over
half said they plan to change financial partners.
also revealed that whilst 37% would like to have just one banking relationship
to facilitate cross border payments, the reality is that a third currently have
five or more.
UK’s exit from the EU is taking considerable thinking time for businesses right
across the Union”, said Anders la Cour. “And one area that needs to be
addressed is stability in the processes that businesses use for cross border
payments. Whatever else might happen, they want to have certainty about
cash flow and costs.
piece of focused research amongst payment professionals suggested that there is
an appetite for businesses to find a third party one-stop-shop to provide the
platform for their cross border payments with nearly 60% advocating this
approach, driven by a desire to reduce external costs and improve cash flow.”
European Payment Summit, Anders la Cour discussed whether the next generation
of cross border payments means the end of correspondent banking.
space is shifting the payments landscape. But the correspondent banking
infrastructure is stopping businesses with international trading ambitions
being truly global because they have to manage many banking relationships in
many countries. Anders la Cour suggested that the answer is a whole new
ecosystem which is rapidly emerging to provide the infrastructure for business
to business cross border payments without any need for correspondent banks.