Banks understand what they need from real time global payments, but reaching a position where they can leverage the full benefits available is a significant challenge.
While multiple projects are underway around the globe in an effort to bring real time to multiple markets, before banks can tap in to the advantages of real time, they must first get their technological house in order.
Banks must consider how real time payments should interoperate with each other, and create real time global settlement and clearing.
Why does this remain such a challenge? It is all related to what is happening in the payment structure of traditional banks.
Whether it’s a tier 1 bank encumbered by legacy systems, or a smaller bank with limited coverage of cross border capabilities, in almost every financial institution, payments tend to be segregated.
This Finextra impact study, produced in association with Form3, will explore the current challenges faced by banks in their efforts to meet instant payment objectives, how the global real time ecosystem is driving pressure on financial institutions to evolve, canvas key trends pushing the real time agenda, and the best way for banks to orient themselves for real time success.
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