Abdul Naushad on the Promise of a 'Glocal' Payments Ecosystem

Why It Matters

Accelerating real‑time cross‑border payments reshapes liquidity management and opens sizable fintech partnership opportunities, compelling banks to innovate or lose market share.

Key Takeaways

• Cross‑border payments shifting from days to near‑real‑time settlement.
• U.S. leads real‑time domestic schemes; Canada trails slightly behind.
• Tier‑2/3 banks should partner with fintechs like Bugsy for innovation.
• Banks focus on customer experience to compete with neo‑banks.
• Market size remains large, allowing multiple banks to thrive.

Summary

In the video, Abdul Naushad outlines the emerging “glocal” payments ecosystem, emphasizing that cross‑border transactions are moving from multi‑day clears to near‑real‑time settlement.

He notes that the United States already operates real‑time domestic rails and is extending them abroad, while Canada lags slightly. For smaller banks, the fastest path to comparable service is partnering with fintech platforms such as Bugsy, which already deliver innovative cross‑border solutions. Larger banks continue heavy investment but are also collaborating with fintechs.

Naushad stresses, “Banks are now focused on customer experience; the winner will be the one that delivers the best experience.” He adds that neo‑banks intensify competition, pushing traditional institutions toward a utility‑like role.

The shift promises tighter cash flow, lower FX risk, and new revenue streams for fintechs, while forcing incumbent banks to rethink product strategy and partnership models to stay relevant in a rapidly globalizing market.

Original Description

In this segment of The Paytech Show, Buckzy's Abdul Naushad discusses the movement of real-time payments into cross-border in the U.S. and what that means for banks. As payments become more 'glocal,' Tier 1 and Tier 2 banks will find partnering with fintechs a more cost-effective startegy in facilitating the new payments transition.