Mike Truter

Director, Head of Industry Engagement

Swift

Mike leads Industry Engagement at Swift, focused on strengthening collaboration across the global financial ecosystem and driving the evolution of payments.

He joined Swift in February 2023, bringing over 25 years of experience delivering banking and technology solutions across Europe and Asia. His passion for payments began while helping to deliver a regional SEPA platform in Europe and grew through his work on several pioneering innovation initiatives in Asia, including Project Ubin which explored the potential of digital ledger technology.

Speaking at

3:30–4:30pmTue 23 JunWorkshopWorkshop Room, Level 1OpenModerator
Others

Breaking the Speed Barrier: How to Address the Structural Frictions in Cross-border Payments - Powered by Swift

WorkshopWorkshop Room, Level 1OpenModerator
About this session

Cross-border payments are the lifeblood of the global economy, underpinning trade, remittances, investment and financial connectivity. As technology has advanced and economies have become increasingly interconnected, expectations for international transfers have evolved too. Progress has been made, with 75% of payments travelling over Swift reaching destination banks within just 10 minutes. But frictions remain, particularly at the ‘last mile’ of a payments journey, where 80% of the total time is spent before it is credited to the end account or wallet.
Emerging technologies, including blockchain, promise a real-time, 24/7 reality. But innovation in cross-border payments will not come from new rails alone. It will emerge from steady progress in resolving structural frictions - improving data quality, harmonising standards, strengthening coordination and enhancing transparency across the value chain.
In this interactive session hosted by Swift, experts will discuss the structural frictions identified in Swift’s Payment Optimisation Index and provide practical insights on what institutions can do to improve the overall speed and transparency of cross-border payments.
2:00–3:30pmWed 24 JunGFTN InsightsRoundtable Room 1, Ground FloorOpen
Next-Gen Transactions

The Great Convergence: Building Tomorrow's Integrated Payments Networks

GFTN InsightsRoundtable Room 1, Ground FloorOpen
About this session

The consensus is clear: global payment networks see collaboration, not competition, as their path to future dominance. Major networks are already building bridges – Mastercard with Ant International, Swift with blockchain layers, NGP's Nexus connecting instant payment systems worldwide. But as these technical integrations accelerate, a critical question emerges: what policy frameworks will govern this interconnected future?

When payment networks interoperate across borders, whose rules apply? How do regulators ensure consumer protection when a transaction touches multiple jurisdictions and networks? As networks become more interdependent, how do policymakers balance innovation with systemic risk? And perhaps most importantly – how can policy frameworks evolve to support beneficial network effects while preventing any single player from wielding excessive market power?

This roundtable brings together payment network leaders, financial regulators, and policy experts to explore how regulatory frameworks must adapt to govern an era of payment network collaboration. The stakes are high: get the policy right, and we unlock unprecedented efficiency and inclusion in global payments. Get it wrong, and we risk creating new systemic vulnerabilities or stifling the very innovation that promises to transform how the world moves money.

Featured speakers

Hosted by

Mike Truter

Speaking at

Breaking the Speed Barrier: How to Address the Structural Frictions in Cross-border Payments - Powered by Swift

The Great Convergence: Building Tomorrow's Integrated Payments Networks