Story perspectives

Banking Sector Urged to Modernize Payments Amidst Competition

1/8/2026

Summary

Story summary

The banking sector faces pressure to modernize payment systems as cross-border transfers still rely on SWIFT.
Some bankers view stablecoins as a solution for faster payments, but ambitions remain limited.
Banks must develop infrastructure that outperforms public blockchains to stay relevant.
Instant settlement is crucial, as it eliminates pre-funding inefficiencies and reduces FX costs.
Without significant improvements, banks risk losing their role in global value transfer to faster alternatives.

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Story summary

The banking sector faces pressure to modernize payment systems as cross-border transfers still rely on SWIFT.
Some bankers view stablecoins as a solution for faster payments, but ambitions remain limited.
Banks must develop infrastructure that outperforms public blockchains to stay relevant.
Instant settlement is crucial, as it eliminates pre-funding inefficiencies and reduces FX costs.
Without significant improvements, banks risk losing their role in global value transfer to faster alternatives.