Why Are Cross-Border Payments So Hard?

Benjamin Fernandes, the Founder and CEO of the remittance platform NALA, likes to say that payments are just 1% built in Africa. Why are cross-border payments so hard? In this episode, we're joined in conversation with Benjamin Fernandes and Dan Kleinbaum, a co-founder of Beyonic, which sold to Onafriq, and now the Founder of the FX platform GTXN. This episode was recorded live from the FT Partners Fintech in Africa Summit in New York City. Download their Fintech in Africa research report: https://www.ftpartners.com/fintech-research/fintech-in-africa-thriving-opportunity 00:00 - Intro 01:29 - Payments are 1% built in Africa 06:32 - How to solve problems in Cross-Border payments 08:28 - Do we need more payment apps? 15:51 - Navigating regulatory challenges 17:03 - Why are Benji & Dan solving these problems? 20:39 - What's the cross-border payments pitch to investors? 25:52 - Benji & Dan turn the tables on Justin This episode was the second in our series of interviews recorded live from the Fintech in Africa Summit. Our first episode was a roundtable with the Nigerian Neobanks: https://youtu.be/n1rpBd3AATY Episode Links: Follow Benji on Twitter: https://twitter.com/Benji_Fernandes Follow Dan on Twitter: https://twitter.com/danbabbles Read Benji's Medium post: Are African Remittances Finished? - https://medium.com/@Benji_Fernandes/are-african-remittances-finished-4b5e20b256b6 Our Links - 🔔 Subscribe - https://youtube.com/@TheFlipAfrica 💻 Website - https://theflip.africa 🐦 Twitter - https://twitter.com/theflipafrica 👥 LinkedIn - https://www.linkedin.com/company/theflipafrica/ 📸 Instagram - https://instagram.com/theflipafrica