The emerging changes in global societies challenge businesses as teams work across borders. Consequently, higher education promotes student interaction from diverse cultural backgrounds using technological tools without restricting time, cost, motivation or mobility. In this regard, telecollaboration engages students in a learning process that develops 21st century skills with peers from diverse language, socio-cultural, and educational backgrounds. This article presents a telecollaboration project designed and implemented by Queens College, City University of New York, and Universitat Oberta de Catalunya, an online university in Barcelona, in which 196 Economics and Business undergraduate students from the United States and Mexico enhanced intercultural communication. The aim of this study was to identify the effectiveness of telecollaboration as a tool for advancing diversity and transversal skills. The results showed a positive effect but detected the need to raise awareness on the importance of intercultural skills as part of 21st century skills sought by employers.