Enhancing Cross-border Payments In 2019, the G20 identified enhancing cross-border payments as a key priority and the FSB has been dedicated to advancing this important work ever since. The challenges associated with cross-border payments are widely known and longstanding. Prior attempts to make improvements have struggled to gain traction.
In October 2020, the FSB delivered a multi-year roadmap to the G20 leaders who endorsed the way forward and committed to advancing meaningful change aimed at increasing the efficiency and effectiveness of cross-border payments. 2 Ultimately, we are focused on addressing the core challenges associated with cross-border payments: cost, speed, accessibility, and transparency.