The limited capacities of the banks have led to the emergence of alternative finance such as trade finance funds, which are typically launched by industry professionals willing to get involved with transactions that are not in the interest of traditional banks. The universe is still in its infancy with only around 15–20 such funds around the world and total assets under management of less than $10 billion.
Banks position themselves as trusted advisors with the capability of facilitating large financing deals on behalf of their clients. While banks are capable of providing financing advice, they often have interests that conflict with the interests of their clients. Banks are in the difficult position of serving their clients while also maximizing their own profits and protecting their own balance sheets.
Analyzing international bank fee statements requires in-depth knowledge of international banking structures, accessibility and visibility into local bank fees, and copious amounts of time and resources. Many treasurers do not make it past the first step of obtaining their international bank fee statements in useable formats to then progress to understanding their fees across multiple countries.
With the increase of card payments, mobile payments, peer to peer payments like Venmo, and cryptocurrencies, there are many theorists who believe cash is dead. However, according to Payments Journal, it is alive and thriving. The Federal Reserve reports that cash is still the preferred payment method for transactions under $25 in retail and, specifically, quick-service restaurants (QSR) according to a QSR Magazine article. Additionally, in 2018, 41.1% of QSR transactions were in cash.
