Agentic artificial intelligence (AI) promises to improve operational efficiencies and the customer experience offered by enterprises. The advanced technology is finding applications in loan underwriting and fraud detection, and now it’s moving across borders. TerraPay Co-Founder and Chief Operating Officer Ram Sundaram told PYMNTS as part of the “What’s Next in Payments” series focused on exploring AI’s use in banking and by FinTechs that automated decision making and streamlined processes will continue to transform global money movement, especially as faster payments gain ground in cross-border transactions. That’s the inexorable trend, but as Sundaram put it, there’s still room, and a necessity, to have some human interaction in the mix. In terms of global fund flows, TerraPay’s single connection ties more than 3.7 billion mobile wallets together across 200 sending and 144 receiving countries, touching 7.5 billion bank accounts. As one might imagine, coordinating and enabling the transactions is complex. “Obviously, in the best-case scenario, everything goes smoothly, but when things are not going smoothly, that’s when the customer queries come in,” Sundaram said. It’s no easy task to find out straight away where a transaction is, as analysts and representatives at the company have to look at logs and query partner systems.

Full opinion : Agentic AI Emerges as Fix for Cross-Border Payment Frictions.