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The business model paradigm has shifted from being "international" with sales and operations in a few foreign countries to being "global" with businesses managing core structural operations from multiple places around the world with little regard to borders. If only that was the case with cross-border payments.
Cross-border payments and the need to conduct foreign exchange is an integral part of doing business today, with approximately $3.2tr changing hands daily. Foreign exchange risk affects any business with exposure to international payables and receivables, even those with no foreign currency cash flows, due to the effects of global competition.
Source: J.P. Morgan Treasury Services
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