Friday, August 31, 2012

Methods used for cross border payments

The graph below was created using Google’s charting tools.

This vertical bar graph shows the methods and their frequency (by percentage of the total) that companies use to make cross-border payments.

The data was obtained through survey by the Association of Financial Professionals and is reported in their study entitled “2010 AFP Payments Survey”.  Besides the data shown in the graph, the study has much other useful information on electronic payments by companies.

The study can be read by clicking here and then clicking “2010 Electronic Payments Survey” under Surveys. (Presented as a PDF file.)

Methods Used for Cross-border Payments

Friday, August 24, 2012

Systems Used for Initiating Wire Transfers

The two graphs below were created using Google’s charting tools.

The two graphs show what automated and manual systems companies use in processing incoming and outgoing wires.  The data were obtained through survey.  Obviously, several companies, if not all, use more than one of the systems in their wire processing.

The data in the graphs were obtained from a 2009 Association for Financial Professionals study entitled “Providing Remittance Information with Wire Transfers”.  This study can be read by clicking here.

In addition to providing such data seen in the graphs, the study also discusses the need for additional information to be attached to wire transfers in order to improve company wire processing.

These two graphs and the study might be useful to companies evaluating their wire transfer processes.

Software Systems Used in Companies for Incoming Wires Software Systems Used in Companies for Outgoing Wires