Payments systems are evolving quickly: is your institution ready?

Modernising bank payment platforms for new formats and functionality is critically important – learn from successful industry examples. New standards – and new competitive threats – are emerging that require financial institutions to carefully consider changing or upgrading their legacy payment systems. Just keeping up with the industry and regulators is already a challenge, though leading banking software vendors are also finding ways to speed up transaction processing and service delivery platforms for their customers. Advanced tools and AI innovations have been developed specifically to leverage the latest ideas and technology. What will it take for a bank or other financial services provider to compete, and what are some of the system enhancements required to process payments in this new world? How can financial institutions help their clients, especially in the corporate sector, take advantage, for example, of ISO 20022’s new richer data fields and extended reporting capabilities, while protecting themselves from fraud and other disruptions to daily business operations? Certainly, costs must be managed, and as with any expenditures, total cost of ownership (TCO) as well as ancillary benefits are critical factors for banks to weigh in making the right choice of platform providers. Robust return on investment as well as flexibility for the future are part of the price of admission for financial services companies, and also for their customers ‘paying to play’ in the emerging payments marketplace. Watch this webinar, hosted in association with Finextra, to join our panel of industry experts who will discuss how financial institutions can evaluate their readiness to handle and capitalise on the latest payment processing advances.