Global banking is in the midst of a massive transformation, and as a serial entrepreneur with a European background, I find the trend toward innovation and reevaluation of cross-border payment strategies (Go-To-Market or GTM) particularly fascinating. The shifting global financial ecosystem and regulatory pressures, coupled with the disruptive power of fintech and blockchain, are forcing traditional banks to rethink how they approach international transactions. More than ever, entrepreneurs, startup founders, freelancers, and business owners need to understand how these changes ripple through global markets, and how to seize opportunities amid this disruption.
Why Banks are Reinventing Their Cross-Border Payment Strategies
Cross-border payments, once dominated by legacy systems, are becoming fertile ground for innovation. With evolving customer expectations, rapid technological advancements, and increasingly stringent regulations, banks can no longer rely on outdated methods. Let’s break down the top drivers of these shifts:
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Customer Expectations for Speed and Transparency
Modern businesses demand instant and transparent payment solutions. Traditional systems, plagued by delays and high fees, are no longer competitive compared to fintech solutions designed for instant settlement. For example, J.P. Morgan’s G20 Vision highlights that 69% of cross-border payments in 2023 were credited within a day, down from 74% the previous year, a clear indication that faster solutions are required. -
Regulatory Pressures
Governments and institutions like the G20 and Financial Stability Board (FSB) are driving the adoption of standards like ISO 20022 to improve cost, speed, and transparency for global payments. Flexibility around compliance is becoming a key differentiator, banks now need agile systems to meet ever-changing demands, as explored in the G20 Roadmap for Enhancing Cross-border Payments. -
Technology’s Transformative Power
Fintech partnerships, blockchain, stablecoins, and artificial intelligence (AI) are significantly altering the payment landscape. Stablecoins, for instance, can drastically cut costs and provide near-instant settlements, benefits highlighted by experts at Sibos 2025. Technologies like ISO 20022 are enabling faster and more accurate components of global transaction messaging. -
Outsourcing as a Survival Tactic
Rather than building their own solutions from scratch, many banks are outsourcing payment operations to avoid falling behind. Companies such as Finastra champion this approach, creating collaborative ecosystems that combine innovative fintech solutions with bank infrastructure.
A How-to Guide: Navigating Cross-border Payments for Your Business
As someone who has built startups across multiple industries and continents, I know firsthand how vital frictionless cross-border transactions are for scaling businesses globally. Here’s my recommended approach:
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Embrace Fintech Solutions
Explore products from companies offering instant payment technologies that align with ISO 20022 standards or stablecoins backed by regulatory approval. For instance, Finastra’s Payment Infrastructure is built for seamless international transactions. -
Monitor Regulatory Changes
Keep up with reforms by entities like the G20 and central banks. Negative financial impact often comes from being unprepared for compliance requirements, regulatory tools will help protect your business. -
Leverage Technology for Liquidity Management
Technologies for real-time settlement are becoming essential, especially during periods of economic volatility. Adopt platforms with built-in automated liquidity optimization. -
Prioritize Cost Efficiency
Use tech-driven payment systems and negotiate fees with financial institutions to ensure you aren’t overpaying as foreign exchange rates fluctuate. -
Stay Agile
Outsourcing payments operations to fintech is a fast way to reduce delays and inefficiencies, leaving you more time to focus on growing your business.
Common Mistakes to Avoid in Cross-Border Transactions
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Ignoring Transparency
Many businesses neglect to verify transaction fees upfront. Hidden fees can drastically impact your margins, so always ask for itemized costs. -
Overlooking Regulatory Requirements
Compliance across multiple jurisdictions can be complex. Skirting these challenges might save time initially but could result in penalties later. -
Depending Entirely on Banks
Traditional banking channels often entail higher costs and slow processing; fintech and blockchain solutions can provide modern alternatives.
Deep Insights from a Serial Entrepreneur
As someone who has juggled compliance in five different regions and run multiple startups, I believe this transitional period represents fertile ground for entrepreneurial innovation. Banks are struggling, presenting a golden opportunity for fintech startups with solutions tailored to speed, cost efficiency, transparency, and regulatory adaptation. Take inspiration from players in emerging markets, where solutions like mobile money have fundamentally altered cross-border trade, a revolution I observed closely while working in Asia.
Moreover, technologies like artificial intelligence, which I’ve actively integrated into the Fe/male Switch platform, present another avenue for coming improvements. Imagine AI forecasting FX rates or automating remittance bottlenecks, it’s already happening.
Conclusion: Opportunity Amidst Chaos
Banks reshuffling their cross-border GTM strategies signals a world of opportunity for entrepreneurs. Whether it's leveraging stablecoins for faster transactions, partnering with leading-edge fintech companies, or automating liquidity, the future will favor businesses equipped with dynamic approaches to international payments. For founders, startups, and freelancers, this is the perfect time to step up and explore profitable ventures in an ever-transforming global payments ecosystem. From technology adoption to outsourcing, the options are limitless.
FAQ
1. Why are banks reevaluating their cross-border payment strategies?
Banks are reevaluating due to regulatory pressures, customer demands for faster and transparent transactions, and innovations in fintech and blockchain. Understand these changes through J.P. Morgan’s G20 Vision
2. How are fintech partnerships influencing international payments?
Fintech partnerships allow banks to adopt cutting-edge technologies like AI, stablecoins, and ISO 20022, accelerating transaction speed while reducing costs. Learn about Finastra’s ecosystem innovations
3. What role do stablecoins play in global payments?
Stablecoins offer instant settlement capabilities and reduce transaction costs, making them a promising solution in cross-border payments. Understand the impact of stablecoins from experts at Sibos 2025
4. How are regulatory pressures shaping cross-border systems?
Standards like ISO 20022 and G20’s roadmap aim to improve transparency, speed, and cost efficiency, pushing banks to adopt more agile systems. Explore the G20 Roadmap for cross-border payments
5. What technological advancements are transforming global banking?
Blockchain, AI-driven liquidity tools, and real-time payment systems are enabling more accurate, faster, and transparent cross-border transactions. Discover J.P. Morgan’s insights into 2025 cross-border trends
6. What are the benefits of outsourcing payment operations?
Outsourcing helps banks avoid falling behind by leveraging fintech innovation for compliance, efficiency, and agility. Learn about outsourcing strategies from Finastra
7. How can businesses adapt to cross-border payment changes?
Businesses should explore fintech solutions, stay updated on regulatory reforms, adopt technologies for liquidity optimization, and prioritize cost-effective systems.
8. What common mistakes should businesses avoid in international transactions?
Avoid ignoring transaction transparency, overlooking regulatory requirements, and relying entirely on traditional banking channels instead of modern systems.
9. How can entrepreneurs seize opportunities amidst banking disruptions?
Entrepreneurs can develop fintech solutions addressing speed, cost efficiency, transparency, and compliance to fill the gaps traditional banks struggle with.
10. Why is this the ideal time to invest in cross-border payment solutions?
The global payments sector is undergoing major transformations, favoring dynamic and tech-driven approaches to international transactions. Learn more about cross-border payment opportunities with FinextraTV
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
