As instant payments become the norm, financial institutions could be at risk of falling behind with increasingly sophisticated AI-driven fraud posing significant threats, Citi, warns in a new report. In the report, it details how Asia and emerging markets are leading the way when it comes to the 24/7 availability of seamless instant transactions. To many, this will come as no surprise, with real-time systems like Pix in Brazil, UPI in India, or M-Pesa in Kenya, driving economic development. Despite the enhancements to the speed of payments across the globe, and the promise of boosting global GDP by over $280billion in 2028, a more interconnected, always-on environment can amplify the risks of fraud. Citi warns that in 2024, consumers globally lost an estimated $1trillion to scams across all payment methods. Citi says that by embracing innovation, prioritising cybersecurity, and fostering collaboration across the financial ecosystem, businesses and financial institutions can start to unlock the full potential of real-time payments and build a more inclusive, efficient, and dynamic financial future. By enabling faster settlements, improved working capital management, and enhanced customer experiences, real-time cross-border payments are unlocking new opportunities for businesses operating globally.