Banks face an imminent need to upgrade their payments infrastructure. What’s compelling it? Rising end-user expectations, alternative payment networks and evolving developments such as the UK’s New Payments Architecture, RTGS renewal for higher-value payments and increased adoption of the ISO 20022 standard, typically driven by governments, central banks, regulators or banks’ networks.
Compelled as they are by competitive and disruptive forces, it would be shrewd for banks to take this opportunity to build payments platforms that are grounded in the future. Infusing innovations—like cloud, digital currency, biometric authentication and AI—into these platforms will enable modern, compliant, more secure payments that meet buyers’ expectations.
We assist banks in modernizing their payments platforms. By going higher and doing more, they can create efficient clearing and settlement systems that enable open, innovative and secure payments experiences.