What if the problem with clearing and settling payments isn’t technology, but the business model of existing networks?
That’s what Lorum’s CEO says is the biggest issue with regional banks as correspondent banking nodes: Their incentives are to hold money and not move it.
In a conversation with Karen Webster, Lorum CEO George Davis says they are to clearing and settlement what Stripe was to mobile commerce: Modern, filling a much-needed infrastructure gap, and scaling as middle market players see new ways to monetize money movement.