ADVERTISEMENT FEATURE SIMPLIFYING CROSS-BORDER PAYMENTS SME owners have enough to worry about without delays and high fees for international transactions. Freemarket are on hand to help C ross-border transactions can be both sluggish and costly for SMEs in the UK. In a Bank of England presentation from March 2023, it remarks that cross-border payments can take up to 10 days and cost more than 10% of the payment value. With international cross-border payments expected to reach a value of $250tn by 2027, it is pertinent for SMEs to effectively mitigate the cost and time inefficiencies of cross-border payments to keep pace with global growth. For SMEs hoping to expand internationally in the coming year, finding a highly accessible and integrated platform can be the key to keeping up with fluctuating cross-border payment costs. Because the global payment environment is fast-paced, maintaining clear oversight of transactions and cash flow is vital. Building a comprehensive cross-border payment network helps ensure SMEs can manage their liquidity and gain real-time access to transactional data. However, obtaining this data is not always a simple task. Freemarket are ready to assist SMEs Without the right technology provider and platform, an SME can struggle to onboard the various banking providers necessary to achieve a real-time crossborder system. As a result, SMEs relying entirely on an in-house payments infrastructure can end up with a fragmented and disparate approach. Comparatively, an optimised platform solution for cross-border payments can provide smaller businesses with the technology and expertise necessary to achieve true efficiency and meet customer expectations.