Real Time Cross-Border Payments Arrive
(03 September 2020 – United States) An innovative financial technology company has released real time cross-border payments to foreign markets for corporates in the United States.
RTGS Global, who created Worldpay and Clear Bank, have used technology from Microsoft Azure’s cloud platform and their own liquidity ‘lock and block’ system to provide cross border payments within 50 milliseconds.
“The dollars become the property of the United Kingdom bank and the sterling becomes the property of the United States bank, instantly in real-time. It is that simple. With this process, global payments can be completed in seconds anywhere, without risk” commented RTGS Global Founder and CEO, Nick Ogden.
“Using Azure’s artificial intelligence and data analytics capabilities, RTGS Global’s new system provides a powerful way for banks to transform their international payments process, delivering enhanced value to their customers while reducing costs, improving efficiencies, and staying secure and compliant” commented Microsoft Azure Vice President, Bill Borden.