Embracing Instant Payments: The road ahead
Instant Payments are on the rise worldwide. However, many banks lack the necessary infrastructure, and regulations pose significant obstacles.
Watch our webinar on-demand and learn how Finastra and LTIMindtree can help you seize FedNow, RTP, TIPS, and NPA opportunities in the US and Europe.
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The global landscape of payments is undergoing a dramatic transformation. Rapidly changing customer demands, and evolving regulations are presenting significant challenges for banks to keep up. Customers now expect a faster and smoother payments experience that mirrors the seamless transactions they enjoy in the digital economy. To survive in this changing landscape, banks must embrace instant payments.
Instant payments are experiencing rapid growth worldwide (FedNow, RTP, TIPS, NPA UK and more), but many financial institutions still lack the infrastructure necessary for providing these services and meeting their customer expectations. Regulations pertaining to sending and receiving payments, payee confirmation and sanction screening create major hurdles for the banks.
