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It absolutely is a technical challenge, and all of the above: risk, compliance, regulatory, technical. Small countries can achieve fast transactions because the
by dimitrios1 4y ago
It absolutely is a technical challenge, and all of the above: risk, compliance, regulatory, technical. Small countries can achieve fast transactions because their risk is lower, their complexity is lower, their compliance burden is lower, and their technical burden is lower, because they are...smaller.
The migration to ISO 20022 is in full swing, finally. We will get there.
- tootie 4y agoI mean yeah that's true. I guess I meant it's not a technical challenge to just transfer money quickly, but it definitely is a technical challenge to transfer money quickly in compliance with US regulations. And sure other countries have figured it out which is likely a function of more efficient bureaucracy and/or more lax compliance rules as opposed to not having smart enough technologists.