Cross border payments

The Spanish bank is integrating machine learning with cards, payments, financial management, savings and other products, while the American banking giant is assessing risk for business transactions. Plus: The CFPB eases a consent order on Wise.

Engineering an orderly transition toward greater currency diversification is urgent. It would strengthen financial resilience and help sustain international economic integration.

As it rolls out dozens of new products to up its game in stablecoins and artificial intelligence, the payment company is also working with sellers wishing to expand activities involving non-U.S. corridors.

The administration's unpredictable policy has already caused shifts in foreign exchange rates and supply chain payments. Uncertainty about future levies will cause added pressure despite the 90-day pause.

The banking industry's march to ISO 20022 compliance by a November deadline has been sluggish, but the messaging organization isn't budging.

As FedWire becomes the latest ISO 20022 migration to get pushed back, Vantage Bank and Wings Credit Union discuss the difficult upgrade.

Prometeo aims to make business-to-business payments and remittances between the U.S. and Latin America easier and cheaper.

The company sells capital markets technology to small banks that have growing international processing needs, betting the lack of client overlap prevents a big bank/small bank competition.

The money-transfer company's move came after the U.S. State Department last week renewed sanctions against the island nation. That, plus Klarna and Standard Chartered get bullish on crypto; Trump's not the first politician to rail at pennies; and other international payments and fintech news.

Countries around the world have lots of incentives to build an alternative to the U.S.-centric global payments system using central bank digital currencies. The U.S. must get in the game or see its economic might begin to wane.