New Whitepaper

Real talk about real-time payments in a banking ecosystem

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Banks need to go beyond thinking about what their competition is—or isn’t—doing. They also need to consider how to remain relevant in the wider payments and banking ecosystem now being shaped by real-time payments.

This white paper reveals what the future payments ecosystem enabled by real-time payments (RTP) will look like, the current state of RTP globally, and the key challenges facing banks and other players.

Highlights

  • Implementing a data-rich, always-on, RTP system can provide a foundation for banks and other payment providers to improve customer service and develop new products. 
  • RTP's evolution—and the product and service offerings that leverage its functionality—will continue as the wider payments and financial services ecosystem expands.
  • All players in the value chain—not just banks—will need to make changes to IT, business processes and culture to realize the future of payments and financial services. 
  • If banks take a wait-and-see approach to RTP, they risk losing relevance to fintechs and other new players who operate without the burden of legacy systems and processes.
As real-time payments mature, banks and businesses will come to rely more on this data to guide their operations and develop new services that deliver value beyond the payment. Any player that fails to adapt to this reality will risk losing customers and market share to more agile players.