"This is not a technical problem and we have seen from the last 3-4 years, connecting payments system - there are many technologies that can solve it, that's not an issue. There is business interoperability, semantic interoperability and technical interoperability - technical and semantic we can solve but business interoperability is an issue," said Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore.

Global Technology Summit: Bankers, experts talk about problem with cross-border payment systems

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Global Technology Summit: Bankers, experts talk about problem with cross-border payment systems