Global Payments Future-state benefits Initiate relationship Transfer money Deliver funds Actpost payment Sender ID Transfer amount 7 1 Beneficiary ID Date and time FX rate Payout conditions 6 Distributed On-demand Verify KYC Sender Beneficiary bank Fiat currency Fiat currency bank Verify KYC ledger reports Transfer request Submit transfer 4 5 Pay funds Sender Smart contract Beneficiary 2 Money 3 Real-time AML Money transfer transfer operator operator Regulator Regulator Future-state benefits 1 Seamless KYC: leveraging the 3 Real-time AML: regulators will 6 Seamless KYC: leveraging the 7 Automated compliance: the digital profile stored on DLT have access to transaction data digital profile stored on DLT regulator will have on-demand establishes trust and and can receive specific alerts establishes trust and access to the complete authenticates the sender based on predefined conditions authenticates the beneficiary transaction history over the 2 FXliquidity capabilities: 4 Reduced settlement time: ledger through smart contracts, cross-border payments can be foreign exchange can be completed in real time sourced from participants 5 Cost savings: with fewer willing to facilitate the participants, the improved cost conversion of fiat currencies structure can generate value WORLD ECONOMIC FORUM | 2016 52