Convera has combined its global payments expertise with Swift’s trusted network and secure financial messaging services, to give institutional customers a fast, transparent way to send and receive cross‑border funds across multiple currencies.
Customer expectations are changing fast. As global commerce grows and digital first services reshape the landscape, financial institutions (FIs) are under pressure to deliver faster, more transparent, and more reliable international payments. Yet many banks and credit unions still rely on legacy systems, manual processes, and fragmented workflows that make cross-border payments slow, costly, and difficult to track.
These challenges have the potential to impact customer satisfaction, revenue, and market competitiveness. When customers can’t easily send and receive international payments or get visibility into where funds are, loyalty erodes and the risk of losing business grows.
Why cross-border payments need to evolve
According to FXC Intelligence, the total addressable market for retail cross-border payments is expected to reach $67.3tn by 2033. FIs must now handle increasing payment volumes, expanding regulatory requirements, and customer expectations for instant insight into international transfers. Manual intervention, inconsistent data, and slow reconciliation create friction at every stage.
Key pain points include:
- Slow payment timelines due to outdated infrastructure or correspondent models.
- Complexity around compliance, screening, evolving regulations, and ISO 20022 transitions.
- Challenges with acquiring and engaging customers who expect real‑time, digital‑first payment experiences due to competing fintech providers like Wise or PayPal
- Limited visibility into when international funds will be received, creating uncertainty for financial institutions and their customers.
To keep pace, institutions need solutions that streamline processes, improve transparency, and reduce risk across global payment flows.
What Convera’s Swift-enabled payments mean for financial institutions
Patrick Gauthier, CEO, Convera, says that the future of cross border payments for FIs is being reimagined, “We’re proud to be delivering a streamlined path to market for FIs seeking speed, transparency, and efficiency in cross-border payments. These new capabilities reflect our commitment to helping FIs grow, compete and deliver exceptional value to their customers, something we’ll continue to prioritize in the coming months.”
Convera’s Swift-integrated incoming and outgoing payment solutions help FIs enhance interoperability and transparency, and gain visibility across the payment lifecycle. FI customers benefit from access to multiple currencies alongside multiple payment networks, including Swift, ACH, and Wire Connect, for fast cross-border transactions.
How Convera helps simplify incoming global payments
Convera’s Swift Receive solution allows FIs to benefit from accelerated compliance, operational efficiency, improved transparency for receivables, reduced risk, and a future-proof infrastructure.
Financial institutions will also be able to:
- Access real-time tracking and confirmations through Swift GPI for enhanced transparency.
- Leverage almost 100% straight‑through processing for faster settlement.
- Stay aligned with evolving standards through ISO 20022‑compliant messaging.
- Reduce operational overhead by relying on Convera’s global correspondent infrastructure.
- Receive cross‑border funds across multiple currencies.
Leveraging the solution is simple: Institutions simply share their Business Identifier Code (BIC), the beneficiary’s account number or local identifier, and their full name and address. Convera acts as the correspondent, receiving and routing each payment securely through the Swift network. Once funds are available, they are credited to the institution’s holding balance, and ISO 20022 compliant PACS.008 messages are delivered to the institution to credit the beneficiary’s account.
Even if your institution does not have a connected BIC, Convera can help you access the Swift network through our non-connected BIC model. This allows the institution to benefit from Swift’s reach and transparency without direct participation.
Unlock growth with a future‑ready infrastructure
Convera’s Swift-integrated payment solutions for outgoing and incoming payments utilize Swift’s enhanced messaging standards to enrich and validate payment instructions so that FIs are best positioned for the future of global payments where efficiency and speed wins, and errors and delays are a thing of the past.
With Convera, FIs gain a unified, modern framework for receiving international payments that supports evolving customer expectations and reduces operational complexity.
By combining Swift’s global reach with Convera’s 40‑plus years of payment expertise and extensive banking network, institutions can:
- Reduce errors and exceptions.
- Improve customer satisfaction through real‑time visibility.
- Enhance risk and compliance readiness.
- Expand currency capabilities.
- Prepare for the future of interoperable, data‑rich global payments.
This is global payments, reimagined for today’s demands and tomorrow’s opportunities.
Additional resources
- Learn how Convera makes smart money moves
- Dive into the Payments 2026+: Liquidity in Motion report
- Follow Convera on LinkedIn and Instagram
- Tune in to the Converge Podcast as we shape the future of finance
- Look out for Convera at upcoming industry shows
- Sign up to attend a Convera Live roadshows
