The next 3 years are set to introduce significant changes to payments and cash management processing through a range of global, regional, and local market initiatives. Some of these initiatives are set to impact every financial institution on the planet, whilst others will have more focused localized impacts.
These market initiatives include:
• SWIFT ISO 20022 migration
• Local RTGS ISO 20022 migrations
• New Instant and Real-time payment services
• SWIFT gpi
• Open banking/API based services
• Request to Pay and Confirmation of Payee services
At the same time new channels, new technologies, and new market competitors are putting further pressures for change on existing systems, whilst the increase in volumes of digital payments has been greatly accelerated by COVID-19 through an embracing of contactless initiation methods around the world.
Download our latest white paper to learn more about seven key themes you need to address to build a long-term strategic program to ensure success in your digital payments business.