The Banking View | How banks are rebuilding cross-border payments for the real-time, multi-rail era

Bana Akkad Azhari, Head of EMEA, Global Payments & Trade at BNY: Interoperable rails, ISO 20022, and AI-driven risk and fraud controls will define the next generation of global payments.

Could you please introduce yourself and share more details about your professional background and your role at BNY?

My name is Bana Akkad Azhari – Head of BNY’s Global Payments & Trade for EMEA region, responsible for the overall business performance across the region, the coverage and delivery of BNY’s products and services to existing and prospective clients as well as market development and strategic growth opportunities in Payments, Cash Management and Trade solutions. I have just celebrated my 20th anniversary with BNY, with my overall career spanning 30 years across coverage and transaction banking.

How do you see the payments landscape evolving, and how is BNY prioritising efforts to modernise cross-border payments and treasury infrastructure for real-time, multi-rail processing while ensuring trust, resilience and compliance?

The global payment landscape has evolved significantly in recent years. Increasing demand for cross-border payments, coupled with digital transformation, has introduced new layers of complexity to the ecosystem.

Payments are moving toward faster, always-on transfers that work smoothly across different networks and countries. BNY is upgrading our cross-border and treasury systems so payments can run in real-time and can facilitate picking the appropriate “rail” (ACH, RTP, SWIFT, card, etc.) for each transaction. We are building strong safeguards – cybersecurity, backups and constant monitoring – designed so services stay reliable even under stress. Compliance stays front and center, with modernised screening, sanctions/KYC checks and data controls to meet changing rules. The goal is simple: quicker, clearer, and more cost-effective payments clients can trust.

How can banks build scalable payment infrastructure that bridges legacy and modern rails while reducing fragmentation and enabling seamless global visibility and integration?

To achieve scalability, banks must first address the question of interoperability. While banks should continue to embrace modern payment methods – such as digital wallets, digital currencies, and real-time payment networks – to help meet client expectations, the reality is that certain disbursement processes (for example government agencies) will still rely on traditional methods like wires and checks. These parallel systems give rise to fragmentation, so banks should look for partners who can help with the struggle of interoperability of systems.

To achieve scalability, it is important to focus on processes and efficiency. For example, at BNY, we use the platform lens when assessing expansion and integration, especially with existing systems. And we would encourage banks to do the same – prioritising proven automation and advanced technologies.

To achieve global and seamless solutions, tools like real-time reporting and transparent tracking tools provide that visibility - which can be coupled with a strong infrastructure, either in-house or via a banking partner.

How can AI be leveraged for payments modernisation, fraud detection and anomaly prevention in high-volume treasury transactions, especially amid rising agentic commerce risks?

AI can help monitor payments in real-time, learn normal patterns for each client, and catch anomalies early – reducing fraud and errors at scale. In agentic commerce, AI can verify intent and enforce guardrails, applying extra checks when something appears unusual. Pairing AI with digital asset rails, such tokenized deposits, stablecoins, and blockchain can accelerate settlement and improve data integrity, while still linking seamlessly to traditional networks. At BNY, Eliza powers AI “digital employees” that are designed to repair payment exceptions and predict potential settlement issues, backed by strong governance, privacy, audit trails, and explainable models. The result is faster, safer, and more compliant treasury operations across both digital and traditional rails.

In an “always-on” payments environment, how should financial institutions prioritise readiness and operational continuity over short-term optimisation?

In an always-on world, reliability comes first. That means having backups ready to take over if something does not work as planned, practicing recovery drills and keeping extra capacity so payments keep moving. Make sure you can route payments across multiple networks – traditional rails and newer digital asset rails like tokenized deposits or stablecoins, so you have an alternative path if one is slow or down. Use real-time monitoring and AI to detect issues early and guide teams to fix them fast, with clear playbooks. Keep compliance built in (screening, KYC, audit trails, strong access controls) so operational continuity doesn’t sacrifice trust.  Speed and cost savings should follow only after the system’s resilience is proven.

Looking ahead to 2026 and beyond, which modernisation trends will have the biggest impact on banks’ ability to compete in global payments?

By 2026 and beyond, banks that digitise and make payment rails interoperable, including on-chain and off-chain, high- and low-value, fiat and stablecoins, can deliver more seamless client experiences while meeting regulatory requirements. Scaling real-time infrastructure with ISO 20022 data and secure APIs helps remove friction, improve transparency, and streamline cross-border processing. In addition, careful use of AI for settlement risk, fraud, AML, and sanctions, backed by strong governance and controls, enables earlier detection, fewer false positives, and faster, safer, more cost-effective payments.

The Banking View is an exclusive series capturing direct perspectives from banks on how they are navigating payments modernisation, fraud and financial crime, regulation, and innovation. In a landscape defined by rapid regulatory change, increased cost pressures, industry consolidation, rising expectations for real-time, seamless payments, and relentless innovation demands, banks face complex trade-offs between speed, security, and compliance. This series goes beyond theory to examine real decisions, real constraints, and real outcomes: what banks are prioritising, what is changing, and what is proving more challenging than expected. Each edition features candid insights from banking leaders, real-world case studies, perspectives on emerging topics, lessons from both successes and setbacks, and in-depth analysis of the technologies, processes, and trade-offs shaping strategic decisions. The Banking View delivers a front-line perspective on how banks are prioritising transformation, managing risk, and driving innovation under sustained pressure.

About Bana Akkad Azhari

Bana Akkad Azhari is Head of Global Payments & Trade – Europe, Middle East & Africa (EMEA) for BNY. She is responsible for the overall business performance across the region, the coverage and delivery of BNY’s products and services to existing and prospective clients as well as market development and strategic growth opportunities in Payments, Cash Management and Trade solutions. She is currently based in London.

 

 

About BNY

BNY is a global financial services platform company at the heart of the world's capital markets. For more than 240 years, BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today, BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals.