At EBAday 2024, Akshat Saharia, Head of European Financial Institutions Product and Propositions, Global Payments Solutions, HSBC discusses the biggest changes to occur across the cross-border payments landscape in the next five years. While 90% of cross-border transactions complete in 30 mins, the other 10% can be delayed, resulting in frustration and a lack of transparency. Robust change will be seen with real-time payment schemes opening up for cross-border payments. In turn, with ISO20022 being mandated from November 2025, banks in the world will be operating with enhanced data, standardised information and LEIs which will significantly enhance STP and reduce costs. Digital transformation through the use of APIs will also bolster end-to-end connectivity, paving the way for value-added services offering increased transparency and verification with Confirmation of Payee.