AI-Driven Cross-Border Risks Threaten Global Real-Time Payments

As real-time payments expand globally, banks face new security risks from artificial intelligence (AI) used in cross-border transactions. The Federal Reserve is exploring how to support these international payments using intermediaries that are not Federal Reserve banks.

Bernadette Ksepka, senior vice president and deputy head of product management for the Federal Reserve System's FedNow payment rail, noted that real-time cross-border transactions may boost security risk. She emphasized the importance of secure infrastructure to support autonomous payments.

JPMorganChase's Jennifer Perry highlighted the need for trust in international payments, where clients want to make and receive payments faster while reconciling them securely.