SEPA has revolutionized cross-border payments in Europe by reducing payment costs and the needed time to complete the transactions. Together with the four members of the European Free Trade Association (EFTA)—Iceland, Liechtenstein, Norway, and Switzerland—SEPA consists of the 27 countries…
Making efficient purchase orders can be the deciding factor in the smooth running of a business and its profitability. Purchase order management becomes an integral part of procurement since it entails the procedures and guidelines put in place to ensure…
In the constantly changing digital environment, identity management has risen as one of the most critical modules of cyber security and personal data protection. Managing digital identity is the process of administering and securing information that uniquely identifies individuals in…
The terms pre‐money and post‐money valuation are two of the fundamental terminologies originating from the start-up and venture capital universe. Every entrepreneur or investor should understand how valuation works. Two major concepts about funding that often people know are pre-money…
Bank sort codes are an important element in banking. Wiring details are essential for ensuring the right routing to a payment or transfer to some other bank account. This process is mandatory in the United Kingdom, Ireland, and South Africa.…
In this era of digital disruption on every front, it's difficult to believe that any sector would be immune from this technological surge. Yet probably the most radical, at least in the financial space, appears to be the idea of…
One can note the cross-border transactions that flow into the country. In such a case, to the person remitting money to India from abroad, a Foreign Inward Remittance Certificate becomes very crucial in the purview of legal and financial processes.…
At this moment in the world, there has been a significant shift in how payments are made, not only for domestic payments but also for payments that transcend borders. The conventional banking model, with its paperwork, bureaucracy, and human inefficiencies,…
Both Nostro and Vostro accounts are significant participants in the complicated setup of international banking, facilitating the banks to undertake any cross-border activity about a foreign exchange transaction. While indulging in cross-border activity, one should be aware of these accounts,…
Cross-border payment solutions are critically needed by businesses and individuals in an increasingly globalizing economy. These solutions have undergone tremendous evolution through these decades of intensive technological changes, changing consumer expectations, and regulatory changes. In this article, the future, present,…
