- What changes have real-time payments brought to the financial services sector?
- How can banks use real-time payments to provide faster, better, safer and more relevant banking services for businesses and merchants?
- What specific opportunities and use cases do real-time payments offer in the enterprise sector?
- How do banks modernize to stay one step ahead of the competition?
Instant is here to stay. In 2024, we have actually entered an era where financial institutions are moving from batch-oriented payment processing to real-time payment processing. And for good reason.
But as real-time payments become more common in retail, research from Sperical shows that business payments will be forty times larger than consumer payments by 2033. This means that there is a lot of untapped potential for banks to offer new services and create new revenue streams in the corporate banking market thanks to real-time payments. Payee confirmation, payment requests and installment plans are just a few of the possibilities with real-time payments.
The introduction of ISO 20022 and the increasing adoption of real-time payments mean that banks are collecting and sharing greater amounts of transaction data than ever before. But when you move money, you can’t just move the money – you need to have everything in place to ensure the security and trust of those payments. Conversely, this requires a switch to more powerful, modern technology platforms. So how can banks embrace the real-time revolution?
Register for this Finextra webinar, hosted in collaboration with Tietoevry, to join our panel of industry experts discussing the real-time revolution and how traditional banks can capitalize on the opportunities it brings.