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The future of B2B payments: From SWIFT to instant settlement

The future of B2B payments: From SWIFT to instant settlement

The world of finance is one of the areas where progress is constantly pushed by innovation, and so change is at the heart of the business. It shows very much in the way one established system or method is accompanied or at times replaced by a more forward one. For instance, the SWIFT network has been the global standard for B2B cross-border transfers for decades. It’s reliable and secure and still widely used, but in today’s instant-everything economy, it’s also a tad slow, it costs, and there are more advanced (read: attractive) options to go for.

It’s likely that the future of B2B payments lies in instant settlement powered by real-time networks, blockchain, and API-driven infrastructure.

SWIFT: A strong foundation, but showing its age

The SWIFT network, created in the 1970s in Belgium, enables financial institutions to securely communicate about payments. But it’s important to note one thing: SWIFT itself doesn’t move money. It moves messages. That means actual fund transfers can take 2-5 business days, often with unclear fees (not the case with Satchel, thankfully) and multiple intermediaries involved. In the world of B2B payments—where speed, trust, and predictability matter—this can increasingly seem like a reasonable cause to explore alternatives. 

What instigates the shift?

Many businesses today are more borderless and digital than ever; therefore, they need payment systems to keep up. Here’s what’s reforming the B2B payments milieu:

1. Real-time payment infrastructure

Countries across the globe have launched real-time payment systems: RTP (U.S.), Faster Payments (UK), and SEPA Instant (EU). These networks are expanding across borders, paving the way for instant international settlements.

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  • Transfer funds in under 10 seconds
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  • Ideal for both personal and corporate clients

2. Blockchain and distributed ledger technology (DLT)

Blockchain-based networks are enabling businesses to bypass traditional correspondent banking models, offering faster and cheaper alternatives. They’re also adding new layers of transparency and security.

3. API-driven platforms

Open banking and embedded finance are allowing fintechs like Satchel to offer user-centric, API-first payment experiences. This translates into faster integrations, better automation, and real-time status updates.

4. CBDCs and digital currency innovation

Central Bank Digital Currencies are still in the early stages, but they hold massive potential to make cross-border B2B payments cheaper, faster, and more interoperable across markets.

Why instant settlement matters

  • Faster cash flow: It’s an obvious gamechanger to not wait days for funds to clear—immediate settlement improves liquidity and operational efficiency.
  • Cost efficiency: Fewer intermediaries reduce processing fees and errors.
  • Transparency: Real-time tracking and data-rich messaging make reconciliation a breeze.
  • Trust: Faster transactions fortify relationships between global partners.

The challenges to counter

It’s understandable that transformation doesn’t happen overnight. Some of the key challenges here include:

  • Fragmented infrastructure: Not all systems are interoperable—yet.
  • Legacy tech: Many corporates still run on outdated ERP systems that don’t play well with modern APIs or instant payment rails.
  • Regulatory compliance: Real-time cannot mean reckless—KYC, AML, and fraud controls must still be top-notch.

Satchel in the future of payments

At Satchel, we’re building solutions that bridge the gap between traditional banking and next-gen fintech. Whether it’s through our white-label digital banking platform, our multi-currency accounts, or SEPA Instant transfers, we’re committed to delivering fast, secure, and scalable payment solutions that answer the needs of modern businesses. As B2B payments shift from SWIFT to instant settlement, we’re not just watching the change—we’re driving it.

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