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What challenges do banks face with cross-border payments and remittances, and how do regulatory frameworks like SWIFT and SEPA facilitate these processes ?

What challenges do banks face with cross-border payments and remittances, and how do regulatory frameworks like SWIFT and SEPA facilitate these processes ?

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ANSWER Banks face several challenges with crossborder payments and remittances including Complexity and Fragmentation Crossborder payments involve multiple intermediaries each with their own systems p... blur-text-image

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