Cross-Border Payments for Digital Native Economies

5 Cross-Border Payments for Digital Native Economies: Unlocking Speed and Efficiency Kantox’s Gelis says that integrating both FX and cross-border payments together through API solutions means that cross-border payments are becoming “instantaneous, automated, transparent and competitive. In other words, thanks to APIs, cross-border payments are becoming as easy to carry out as local ones.” Gelis adds that, “In the corporate space, we’re experiencing a new trend which consists of not considering FX as an isolated component that should be managed by the treasury team as a silo, but as a company-wide component that impacts top line and profitability. We are seeing a growing number of companies maximizing the opportunities to sell and buy in local currencies in each market they are present in, allowing them to increase sale conversions and get better deals from their suppliers. All of this is possible thanks to FX automation, which allows treasurers to manage FX exposure, in an unlimited number of currency pairs, in a very smooth way.” In summary, it is important for banks to offer a wide range of API-enabled FX and cross-border payment solutions, underpinned by an extensive payment currency footprint, to meet the evolving needs of increasingly global digital native companies. Citi continues to establish strategic partnerships with industry-leading payment service providers, enabling access to Citi’s FX and cross-border payment capabilities, which in turn, are made available to payment service providers’ underlying clients.