Financial institutions are witnessing the tremendous impact of real-time payments (RTP) and ISO 20022 on the global financial landscape. With projected growth set to exceed $510 billion by 2027, real-time payments will reshape the way financial institutions operate, from accelerating transactions to revolutionizing customer experiences and unlocking the power of transaction data.
Take a deep dive into the remaining obstacles and the immense innovation potential RTP poses, including four critical opportunity areas for businesses with this data-rich disruption.
In this paper, you’ll explore:
- The evolving landscape of real-time payments adoption, from the transformative launch of the Federal Reserve’s FedNow to the European Union’s SCT Inst scheme.
- The critical challenges posed by payments irrevocability, fragmentation, and cross-border complexities, along with the innovative solutions to overcome them.
- The role of advanced technologies like AI, machine learning, and intelligent routing in optimizing real-time payments and combating fraud.
- The crucial necessity of a multi-rail strategy and intelligent routing for seamless integration and enhanced payment experiences.
- The potential for financial institutions to generate new revenue streams and provide value-added services through real-time payments.
Download the whitepaper today to learn more.