This whitepaper aims to give the reader a deeper understanding of the problems and roadblocks afflicting cross-border payments, which will reveal the next steps necessary for Africa’s ongoing digital payments evolution.
This piece, the first in a series of articles examining the opportunities and future of African payments, will explore cross-border alternatives to traditional payment methods as well as the impact of new technology and how it can fix the broken correspondent model.
It will also unpack why American banks have been de-banking African banks for years now and show that all is not lost for the correspondent banking model.
Most importantly, this paper will present an intriguing cross-border payments solution for banks, that works through banks and solves most, if not all problems with the classical correspondent banking model.
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