Cross border payments network Neema has introduced Dynamic Routing, aiming to improve “success rates” and “cost efficiency” of transactions.   

The company’s payments network enables financial institutions to process transactions in over 120 countries. 

The company has identified that most cross-border transactions between banks have traditionally relied on the SWIFT network.  

However, Neema highlighted that this system is outdated, often resulting in costly, slow, and error-prone transactions.  

In contrast, it stated Dynamic Routing offers an easier approach to global money transfers by avoiding reliance on a single pathway and instead establishing multiple real-time routes between countries. 

Each transaction processed through Dynamic Routing is subject to instant analysis, considering factors such as exchange rates, “speed”, and “reliability” to identify the most suitable route.  

This ensures that every payment is tailored to the specific conditions of the transfer, with the possibility of different optimised routes being used for subsequent transactions between the same countries. 

Neema CEO Moshe Kimhi said: “At Neema, our primary mission is to address the genuine challenges that businesses encounter when transferring funds across international borders. The introduction of Dynamic Routing represents a significant advancement in this realm — enhancing the speed, cost-effectiveness, and reliability of international payments. This innovation is instrumental in empowering businesses to expand and function more efficiently within the complexities of the global economy.” 

The company is building a real-time, cross-border payment network for banks and financial institutions.  

Its API is designed to facilitate a payment experience akin to local transactions across more than 150 countries and in over 50 currencies.