How Meridian Bank cut cross-border settlement time by 62%
Meridian Bank partnered with ForexPay to modernize correspondent banking rails and deliver same-day FX settlements for corporate clients across 18 corridors.
The challenge
Corporate clients were waiting 2–3 business days for FX confirmations. Ops teams spent hours reconciling nostro accounts, and compliance reviews created bottlenecks during peak trade seasons.
- Fragmented FX pricing across desks
- Manual sanctions screening
- Delayed MT103 / payment status visibility
The solution
ForexPay deployed a bank-grade FX orchestration layer with:
- Real-time multi-corridor pricing APIs
- Automated AML / sanctions pre-checks before quote lock
- Straight-through settlement with status webhooks for the bank’s core system
- Treasury console for liquidity and exposure monitoring
Results
-62%
Settlement time
Average time from quote to confirmed settlement
-45%
Ops effort
Fewer manual reconciliation hours per week
18
Corridors live
Active FX corridors for corporate clients
91%
STP rate
Payments processed without manual intervention
“ForexPay gave our treasury team the control we needed without ripping out our core banking stack. Clients finally see FX status in hours, not days.”
Priya Nair
Head of Treasury, Meridian Bank
Meridian Bank is a mid-sized commercial bank serving exporters, importers, and treasury teams across South Asia and the Middle East. Their legacy FX stack relied on batch files, manual compliance checks, and overnight nostro reconciliations.
With ForexPay, Meridian unified quote, compliance screening, and settlement into a single workflow used by relationship managers and the treasury desk.