{"id":52329,"date":"2026-02-12T06:00:00","date_gmt":"2026-02-12T11:00:00","guid":{"rendered":"https:\/\/www.ienyc.edu\/the-blueprint\/?p=52329"},"modified":"2026-02-11T10:28:00","modified_gmt":"2026-02-11T15:28:00","slug":"breaking-barriers-cross-border-payments-capstone-research","status":"publish","type":"post","link":"https:\/\/www.ienyc.edu\/the-blueprint\/breaking-barriers-cross-border-payments-capstone-research\/","title":{"rendered":"Breaking barriers in cross-border payments: Redefining financial access in emerging markets"},"content":{"rendered":"\n
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\"\"<\/figure>\n<\/figure>\n\n\n\n

Cross-border payments move trillions of dollars every year, yet in many emerging markets they remain slow, expensive, and inefficient. <\/p>\n\n\n\n

In his IENYC capstone<\/strong>, Gilles Andrea Raynaud<\/a><\/strong> investigates how corridor-specific, compliance-first financial infrastructure<\/strong> can reduce friction, using Bolivia as a real-world case study. The result is a rigorously designed operational model grounded in regulatory analysis, risk assessment, and measurable social impact.<\/p>\n\n\n\n

The research question<\/h2>\n\n\n\n

At its core, the capstone asks:<\/p>\n\n\n\n

How can technology-enabled FX and payment infrastructure reduce cost and settlement friction in emerging markets while remaining institutionally compliant and commercially viable?<\/strong><\/p>\n\n\n\n

Rather than assuming inefficiency is purely technical, Gilles approached the problem as a systems challenge shaped by regulation, liquidity constraints, correspondent banking limitations, and fragmented compliance processes.<\/p>\n\n\n\n

Why Bolivia<\/h2>\n\n\n\n

Latin America presents one of the most complex<\/strong> cross-border payment environments globally. Challenges include:<\/p>\n\n\n\n

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-High FX spreads<\/p>\n\n\n\n

-Limited access to hard currency liquidity<\/p>\n\n\n\n

-Correspondent banking de-risking<\/p>\n\n\n\n

-Slow settlement cycles<\/p>\n\n\n\n

-Fragmented AML\/KYC compliance processes<\/p>\n<\/div><\/div>\n\n\n\n

<\/p>\n\n\n\n

Bolivia offered a high-friction corridor for testing infrastructure models. Focusing on a specific market enabled granular regulatory mapping, stakeholder analysis, and risk modeling<\/strong> tailored to real operating conditions.<\/p>\n\n\n\n

Methodology from market mapping to model design<\/h2>\n\n\n\n

The capstone unfolded in four structured phases:<\/p>\n\n\n\n

1. Market pain-point analysis<\/h3>\n\n\n\n

Primary research with businesses and organizations identified institutional bottlenecks <\/strong>as the dominant cost drivers.<\/p>\n\n\n\n

2. Regulatory and compliance feasibility<\/h3>\n\n\n\n

A detailed review of regulations, capital controls, AML frameworks, and licensing requirements shaped the infrastructure design. Compliance was treated as a design principle, not a constraint.<\/p>\n\n\n\n

3. Risk-adjusted operating model<\/h3>\n\n\n\n

The project developed a conservative, liquidity-aware model incorporating:<\/p>\n\n\n\n