Cross border payments

Hispanic adults are underbanked compared with their white counterparts, according to the Federal Reserve. Challenger banks such as Tend and Viva First are reaching out to this population with bilingual services and low-cost money transfers.

The payments firm Boku is uniting hundreds of fragmented mobile apps to compete with Visa and Mastercard for unbanked consumers in different regions of the world.

The London neobank, which has applied for a banking charter in California, is working to undercut banks on pricing for consumer payments to Mexico.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.

Cheri McGuire, who previously held roles at Standard Chartered, Microsoft and Symantec, will oversee Swift’s core infrastructure as it speeds up its cross-border transactions.

Swift Go is designed for businesses and consumers to send cross-border transactions under $10,000 at more competitive rates.

MoneyGram International, one of the largest money-transfer services in the U.S., has received preliminary takeover interest from Stellar Development Foundation and the private equity firm Advent International, according to people familiar with the matter.

In a move it says will cut friction in cross-border payments, Swift is launching a real-time validation service for banks to check and confirm payee details related to the payment beneficiary prior to moving the transaction.