Reducing cross-border settlement costs by 60% with on-chain automation
Client: UK Fintech (name withheld by NDA)
The Problem
A UK-based payments fintech was processing cross-border settlements through a chain of correspondent banks, incurring 3–5% in fees and 2–3 day delays. Manual reconciliation was consuming 40 hours of operations time per week.
Our Approach
We conducted a 6-week discovery and architecture phase, evaluating Stellar, Ripple, and a private Ethereum network. We recommended and implemented a Polygon-based settlement layer with smart contract escrow, integrating with the client's existing core banking system via a custom API bridge.
The Result
Settlement fees fell from an average of 3.8% to 1.4% — a 63% reduction. Settlement time dropped from 2.5 days to under 4 hours. Operations reconciliation time fell from 40 hours per week to 6 hours. The system processed £4.2M in its first month of live operation without incident.
“Alphaveta gave us an honest assessment before we committed a penny. They told us which parts of our process blockchain could genuinely improve and which parts it couldn't. That candour saved us from a much more expensive mistake.”