Welcome to the latest episode of At the Forefront: Fintech Conversations!
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In this episode, Forefront VP and Head of Content Sam Belden sits down with Steve Dooley, Head of Market Insights at Convera. Sam and Steve discuss Convera’s Fintech 2025+ report, which examines key trends in the cross-border payments space and how emerging technologies are transforming global commerce.
Sam begins the conversation by asking Steve how macroeconomic forces are impacting FX markets. Steve notes two main themes: geopolitical worries and disparate central banking maneuvers. Given geopolitical conflict and the cyclical nature of global monetary policy, the value of the US dollar has increased, leading to fluctuations in the FX market landscape.
Next, Steve gives an overview of the global B2B payments landscape, emphasizing the complexity of cross-border payments. Steve details how new innovations such as blockchain, real-time payments and open banking can increase efficiency in this space and cut down on back-end processing time to mitigate challenges. He highlights that Convera remains focused on transforming payments networks to drive improvement and modernization.
Sam then asks Steve to take a step back and describe the state of adoption of real-time payments. Steve unpacks a few global trends – most significantly, that there has been a particularly high rate of growth in Asia due to its younger populations adopting new technology, such as mobile payments tools, more quickly than previous generations. Moreover, most systems in Asia were established more recently than those in the West, making it easier to support new innovations. The Fintech 2025+ report predicts that by 2030, the APAC region will likely generate more revenue than North America in the B2B payments space.
Looking ahead, Sam asks Steve about the potential of AI for the payments landscape. Steve predicts that AI will be most beneficial for incremental developments, particularly when it comes to the risk management and compliance components of a transaction.
To close out the conversation, Steve highlights two more key takeaways from the Fintech 2025+ report. First, he points out the potential of open banking to provide a better customer experience and reduce pain points. Steve also highlights the need for collaboration between industry leaders and regulators to ensure all stakeholders can have a voice in the significant decisions that will impact the payments space in the coming years. To learn more about Convera and the Fintech 2025+ report, visit their website
See below for a breakdown of what was discussed. Happy listening!
Timestamps:
1:05 – How economic uncertainty is impacting FX markets
5:42 – Innovation in the B2B payments landscape
11:57 – Adoption of real-time payments
18:15 – Final takeaways from the Fintech 2025+ report
22:05 – Conversation recap
