The head of Swift Go has disclosed that banks are the first point of call when consumers want to make a cross-border payment. 
However, factors such as speed, ease of use, and transparency are the reasons for considering alternatives. 
Cross-border payments have become an interesting section of global transactions as the ecosystem is expected to value around $250 trillion by 2027. In a recent discussion, Tanja Haase, Head of Swift Go explained what consumers and Small and Medium-sized Enterprises (SMEs) expect when sending money across borders.
In a survey that considered the inputs of 4000 consumers and SMEs across eight key markets, it was observed that banks are still “the first point of call”.The reason is that customers have a lot of faith in their process and security. However, some of the participants agreed to be using alternatives.
According to the survey, the main drivers for these consumers and SMEs that consider alternatives are bordered around speed, ease of use, an

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