ISX Financial CEO Nikogiannis (John) Karantzis joined The Payments Shed Podcast. He discussed why moving money is still so complex, and what changes when the layers come out.
A payment from a customer to a merchant rarely travels in a straight line. It passes through processors, partner banks and correspondents before it settles. Each hop adds time, cost and another point where money can stall.
In this episode, hosts Justin Hanna and Grant Evans ask Nikogiannis where that complexity comes from, and what a simpler model looks like.
The conversation covers:
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Why payments still move through multiple hops.
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What really slows settlement down.
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What changes when the layers come out.
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Open banking for merchants selling across borders ISX Financial removes those layers by owning the route.
It connects to SEPA through its own links to two Eurosystem central banks, in Lithuania and Latvia. Payments settle in central bank money, final on arrival, with no chain of intermediaries in between. On SEPA Instant, EUR arrives in seconds. ISX Financial sponsors The Payments Shed Podcast.
Thank you to Justin, Grant and the team for the conversation.