2. Problem Statement

2.1 Fragmented Cross-Border Payments

Today’s international remittance and corporate payout infrastructure is a tangled web of correspondent banks, local clearinghouses, and multiple payment rails. A single transfer often hops through three or more intermediaries—each applying its own processing delays, compliance checks, and routing decisions. This fragmentation not only slows down delivery (sometimes requiring multiple business days) but also makes troubleshooting errors nearly impossible, as senders and recipients struggle to identify where funds are held up.

2.2 High Fees & Hidden Costs

Every intermediary in the chain takes its cut: FX margins are marked up by 1–2%, correspondent banks tack on fixed processing fees, and card networks levy surcharges. By the time a €1,000 payment reaches its destination, total costs can easily exceed 3–5%. These hidden, hard-to-compare fees disproportionately affect small businesses, freelancers, and gig-economy workers—eroding their margins and making global commerce prohibitively expensive for many.

2.3 Slow Settlement Times

Legacy rails operate on batch windows and cut-off times, meaning a transfer initiated on a Friday afternoon in Singapore might not settle until Tuesday morning in New York. Weekend and holiday schedules introduce further uncertainty. For businesses relying on just-in-time inventory or freelancers depending on timely payouts, these delays can disrupt cash flow, force expensive short-term borrowing, and create significant operational risk.

2.4 Lack of Transparency & Control

From end to end, users see only limited status updates—“in process” or “completed”—with no visibility into routing paths or individual fee components. If a payment fails or arrives late, there’s no clear escalation path or unified support channel to resolve the issue quickly. The result is frustration, lost productivity, and a pervasive lack of trust in the system, especially for cross-border customers who feel they have no recourse when things go wrong.