THE APEX TIMES
Bank of America to launch cross-border real-time payments next quarter via Swift and CashPro
The bank said its new capability will add real-time tracking and full-principal delivery for corporate, commercial, and financial institution clients, using existing real-time payment networks rather than new proprietary rails.
Bank of America said it plans to launch a cross-border real-time payments solution next quarter, aiming to let corporate, commercial, and financial institution clients send and receive funds instantly using either Swift or the bank’s CashPro platform.
The offering is designed around speed, transparency, and lower cost, with real-time payment tracking, full-principal preservation (the full payment amount reaching the beneficiary), and what the bank described as reduced returns through pre-validation steps to help minimize failed payments. Bank of America also said payments can be initiated at any time, with funds typically delivered within seconds or minutes.
Bank of America positioned the product for high-volume, low-value international flows, highlighting person-to-person (P2P) and business-to-consumer (B2C) use cases. The bank said those flows are expected to rise by 58% and 131%, respectively, by 2032, and cited practical applications including international remittances, gig-worker payouts, and payments to e-commerce marketplace vendors.
In terms of where it can route payments, the bank said the service will connect to several real-time payment networks, including SPEI in Mexico, the Faster Payments Service in the United Kingdom, and the Unified Payments Interface in India. It also said clients can receive inbound real-time payments into the United States, where Bank of America serves approximately 70 million consumer and small-business clients, and that funds will be delivered to beneficiaries in local currency.
For connectivity, Bank of America said corporate and financial institution clients will access the service via Swift or through existing CashPro connectivity, including application programming interfaces (APIs) or host-to-host channels. CashPro, in this context, is the bank’s digital banking platform for corporate and institutional customers, described as providing a single point of access for payments, receivables, liquidity, foreign exchange, investments, and trade services.
Mark Monaco, head of Global Payments Solutions at Bank of America, said the capability supports broader policy goals for cross-border payments. Daniel Stanton, the bank’s payments product head in Global Payments Solutions, said the company designed the solution with simplicity and scale in mind, combining established payment rails with real-time capabilities and integration so clients can adopt it without adding operational complexity.
Bank of America did not disclose several commercial and operational details in its announcement, including the exact launch timing within the “next quarter” window, the specific country-to-country corridors that will be available at rollout, pricing or fees for clients, service-level targets by corridor, or how it will handle edge cases such as partial returns, compliance holds, and reconciliation differences across local real-time networks.
What to watch next is how the bank operationalizes the rollout, including which corridors and payout networks are enabled first, whether additional real-time systems will be added after launch, and whether clients see measurable improvements in tracking, confirmation speed, and failed-payment rates compared with traditional cross-border payment flows. Given the announcement date in early June, “next quarter” likely points to a July-September 2026 deployment, but the bank did not provide a specific date.
Why It Matters
- Cross-border real-time payments have become a competitive focal point for banks serving corporate treasuries and payment operations, because customers increasingly want faster confirmation and more predictable outcomes.
- By relying on existing real-time networks and established connectivity (Swift and CashPro), Bank of America is indicating an adoption-first approach that may reduce implementation friction for clients that already use those rails.
- Real-time tracking and full-principal delivery can change how corporates manage liquidity and payout workflows, particularly for remittances, gig-economy payouts, and online marketplace vendor payments.
- The success of the rollout will likely depend on which corridors and local payment systems are enabled first, along with whether operational benefits translate into lower failure rates and fewer payment exceptions in practice.
Key Facts
- Bank of America said it will launch a cross-border real-time payments solution next quarter.
- The service is intended to enable instant send and receive via Swift or CashPro.
- Bank of America cited real-time tracking, full-principal preservation, lower costs, and reduced returns through pre-validation.
- The bank said the solution will connect to SPEI (Mexico), the Faster Payments Service (UK), and the Unified Payments Interface (India), and supports inbound real-time payments into the U.S. in local currency.
- Bank of America said clients can access the service through existing connectivity, including CashPro APIs and host-to-host channels or Swift.
- The bank said the product targets high-volume, low-value P2P and B2C payments, with those flows expected to rise by 58% and 131%, respectively, by 2032.
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