How banks and software providers are shaping payment transactions together (German)
Finastra, in collaboration with MSG, contributed to an independent study on Payments Transformation specifically targeting the German-speaking market. The study serves as an invaluable resource for banks, facilitating efficient pre-selection of potentially suitable providers to navigate the changing landscape.
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The transformation of payment transactions is a complex endeavor driven by regulatory requirements, technological advances, and competition in the financial sector. The introduction of SEPA and ISO 20022 has already led to significant changes. With the new EU regulation for instant payments, banks must ensure that their infrastructures not only comply with regulations but also fully exploit the new possibilities.
This requires substantial investments in modernizing existing payment systems. Also, the ability to process transactions within seconds underscores the need for banks to develop robust and flexible systems that support innovation and agility to remain competitive and grow in the payment sector.
One of the most important questions for many banks will be which software or service provider they should partner with. In this context, MSG have examined the range of software and service products offered by all renowned providers available to banks in the German-speaking region and compiled the results in a comprehensive, independent market study.
