Think about long-term payment modernization, not just short-term compliance

Many Financial Institutions (FIs) avoid payment modernization, leading to technical debt that hampers innovation and poses compliance risks. A modern payment hub solution enables banks to optimize and improve processes, reduce duplication of efforts, and increase payment processing automation across multiple payment types, which in turn, will lead to increased operational efficiency, reduced operational costs, improved risk management, and enhanced customer experiences and, above all, provide the infrastructure to support future innovation.

Listen experts’ discussions focused on the evolving payment sector and the importance of modern payment hubs. This webinar session, moderated by Philip Benton from Omdia, featured a panel of payment industry experts including Bhavna Saraf from Santander UK, Chris Higham from Secure Trust Bank, Briony Krikorian-Slade from UK Finance, and Radha Suvana from Finastra. Explore key insights on market trends and forecasts, including the strategic investments necessary for financial institutions to balance speed, security, and compliance while supporting real-time payments.

Financial institutions should have a clear vision on their payments modernization journey for their current needs and a five-year outlook. A good vendor goes beyond technology; they act as a partner or guide, leveraging their experience from other implementations. Their role is to help the bank determine what’s feasible and chart a path toward success. Selecting the right partner is as crucial as choosing the right solution.