Bradesco Completed First Real-Time Pilot Transaction
The bank successfully processed a payment to Hong Kong using Bank of America's cross-border solution.
Updated on Oct. 8, 2026 in Financial Services
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Bradesco has finished the inaugural pilot transaction using Bank of America's new cross-border real-time payments solution. The funds were delivered in Hong Kong dollars through the local Faster Payment System.
Why it matters
Financial institutions are seeking to accelerate international payments to meet demand for speed without the need to overhaul existing bank connectivity and internal processes.
The pilot successfully utilized existing Swift connectivity to route funds to a beneficiary via the Hong Kong Faster Payment System. Bank of America announced this cross-border capability in June 2026.
The players
Bradesco
Bradesco is a major Brazilian financial services institution that provides a wide range of banking and insurance products.
Bank of America
Bank of America is a multinational financial services company that offers global investment banking and consumer financial solutions.
The details
The transaction was executed by leveraging Bradesco's current Swift infrastructure, demonstrating that institutions can integrate modern instant payment rails into legacy frameworks. Bank of America intends to roll out this solution globally via its CashPro platform.
Timeline
June 2026: Bank of America announced the cross-border solution.
October 8, 2026: The completion of the pilot program was announced.
Market Landscape
This pilot underscores a shift toward integrating the Hong Kong Faster Payment System with global banking architectures to achieve near-instant international settlement. It positions Bank of America to compete more effectively against fintech platforms that have already normalized real-time cross-border transfers.
Business clients of these institutions may soon see significantly faster settlement times for international transfers without needing to change their banking software. This could eventually reduce the time funds remain in transit for cross-border payroll and vendor payments.
The takeaway
The move demonstrates that banks are successfully retrofitting legacy messaging systems to accommodate the modern demand for instant global liquidity. These developments indicate a future where international transfers move as quickly as domestic peer-to-peer payments.
Further reading
Learn more about the latest innovations in Financial Services.
Source note: This article includes information reported by Financial IT.
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