INSIGHT · GLOBAL
BIS research finds fintechs (Wise, Remitly) undercut banks and stablecoins on cross-border payment costs
Bank for International Settlements analysis shows fintech platforms like Wise and Remitly have cut cross-border payment costs significantly versus traditional retail bank wires, while stablecoins remain hampered by friction and adoption barriers.
WHY IT MATTERS
BFSI executives facing fintech competition in payments must either match fintech unit economics or pivot to higher-margin, less commoditized services (liquidity management, FX hedging). Clear signal that traditional correspondent banking model is under pressure.
Source: Finextra · 2026-10-21