Modern FX Solutions: No Core Overhaul 

In the realm of FX International Payments, the winds of change are blowing strongly, heralding a new era of digital modernization that demands our immediate attention and action. This transformative journey, marked by the rapid evolution of technology and shifting global dynamics, challenges us to rethink our strategies and adapt to the burgeoning needs of a digital-first world. 

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Matthew Petrik
Head of FX Product

The Legacy Conundrum: Balancing Tradition with Innovation 

At the heart of this transition lies the critical task of reconciling our high-value relationships with the imperative for innovation in global banking. Traditional banking systems, characterized by their robustness and reliability, are now facing the pressing need to evolve. The global payments ecosystem is at a pivotal inflection point, driven by a combination of globalization, the universal access to the internet, and the rise of online banking. These forces have set the stage for a dramatic shift, pushing us toward a future where digital and automated FX solutions are not just preferred but expected. 

The Decoupled Era: Embracing Change 

As we delve deeper into this journey, it becomes evident that the landscape is undergoing a significant transformation, shaped by global data standardization, the emergence of fintechs, and groundbreaking technologies. This new phase, aptly termed the “Decoupled Era,” signifies a departure from traditional payment methods, offering a glimpse into a future where the seamless integration of digital solutions becomes the norm rather than the exception. 

Matt Blangiardi, a subject matter expert from Derivative Path who worked in FX payments for nearly two decades at Wells Fargo, sheds light on this transition, emphasizing the necessity for banks to adapt and evolve. “A massive gap exists between the needs of small to medium-sized businesses in the United States and the solutions currently on the market,” Matt observes. This gap, however, presents an unparalleled opportunity for innovation and growth, urging banks to reimagine their approach to FX payments. 

A Technology-Driven Solution for FX Payments 

In response to these changes, Derivative Path is stepping forward with a solution that bridges the divide between traditional banking and the digital future. Our technology-driven approach to FX payments is not just about keeping pace with technological advancements; it’s about leading the charge. By offering solutions that integrate seamlessly with existing banking platforms, we can enable financial institutions to provide their clients with a digital payment journey that is both efficient and secure. 

Matt highlights the uniqueness of Derivative Path’s offerings, stating, “our solutions present customer-originated payment data to core-wire platforms digitally, reducing manual-entry and human error risk.” This level of integration and automation is critical in today’s fast-paced environment, where efficiency and accuracy are paramount. 

Future-Proofing Your Payments Business 

Looking ahead, the challenge for banks is to future-proof their payment systems, ensuring they remain competitive and relevant in an increasingly digital world. Matt suggests, “developing a roadmap that meets customer demand in digital channels and implement that digital channel into your operations environment digitally.” This approach underscores the importance of a fully digitized product, capable of transforming not just the front-end customer experience but also the back-office operations. 

Embracing Innovation for Next-Generation FX Solutions 

The journey toward digital modernization in FX payments is complex, requiring a nuanced understanding of the evolving landscape and a commitment to embracing innovation. As we navigate these changes, the goal remains clear: to provide our clients with solutions that not only meet their current needs but also anticipate the demands of the future. 

In conclusion, the transformation of the FX payments landscape offers a unique opportunity for collaboration and growth. By leveraging the insights and expertise of leaders like Derivative Path and embracing technology-driven solutions, we can ensure that our journey into the future of FX International Payments is marked by success and innovation. Together, we can redefine the boundaries of what’s possible, creating a more efficient, secure, and customer-centric global payments ecosystem. 

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Matthew Petrik

Matt Petrick is the Head of FX Product at Derivative Path, bringing over two decades of expertise from Wells Fargo. A champion of digital transformation, he's led initiatives in Gateway APIs/Open Banking, revolutionizing FX Payment Solutions. At Derivative Path since July 2022, Matt leverages his deep FX market knowledge and innovation prowess to enhance cross-border payment solutions for regional banks.


The Term “Derivative Path” refers to affiliates, Derivative Path, Inc. and Derivative Path Hedging Solutions, Inc. Derivative Path, Inc. is headquartered in the State of California. Hedging advisory and execution services are provided through Derivative Path Hedging Solutions, Inc. (DPHS). DPHS is a Commodities Futures Trading Commission (CFTC) registered Introducing Broker (IB) and Commodity Trading Advisor (CTA) and member of the National Futures Association (NFA). This communication is for informational purposes only, is not an offer, solicitation, recommendation, or commitment for any transaction or to buy or sell any security or other financial product, and is not intended as investment advice or as a confirmation of any transaction. This communication is intended as an information resource only; Derivative Path has taken reasonable measures to ensure the accuracy of this communication. Any information contained herein is not warranted as to completeness or accuracy, and Derivative Path accepts no liability for its use or to update or keep any such information current. The content of this communication is subject to change at any time without notice. For additional information, you can read more here.

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