The more forward-looking banks are looking to create a composable set of systems and architecture that allows them to plug-and-play best class components into their infrastructure rather than sourcing from a single provider. They don’t want to be tied to monolithic systems that are so deeply interconnected that making small changes requires the entire environment to be shut down; instead, they want to be able to make tweaks and adjustments any time they need, ripping out things that don’t work and replacing them with newer modules when appropriate. 

Moving payment operations from their own estate to a managed service represents a big change in the operating model of banks and financial institutions. Legacy, in-house technology platforms have traditionally always been under the control of the bank itself, meaning they had full responsibility for all maintenance, scheme testing, and payments processing – for better or worse. 

In today’s 24/7, always-on business culture, consumers demand that critical payments infrastructure is fit-for-purpose. We live in a world where we expect banking transactions to be seamless and fast, especially as we balance the management of both our professional and private lives on the move. If, unfortunately, payments systems do go down, this can have a big impact on consumers, whether that means they are unable to pay their mortgage, buy the groceries or deal with even more extreme situations, like paying for hospital bills when abroad.  

As the financial landscape continues to evolve, so do the tactics employed by fraudsters. Watch our insightful webinar, where we delve into the critical strategies and innovations required to develop a best-in-class fraud prevention solution.

The European banking sector faces the dual challenge of complying with stringent regulatory deadlines for instant payments while fostering innovation to stay competitive.

The banking landscape is undergoing a profound transformation as customer expectations continue to evolve in the digital age. The rise of fintechs, digital services, and technological innovation has raised the bar for what customers expect from their financial institutions.

Fedwire, a cornerstone of the U.S. financial infrastructure, faces a crucial transformation with the mandated shift to ISO 20022 by March 10, 2025. This change is essential for maintaining global competitiveness and operational efficiency. While some banks are prepared, many underestimate the scale of the task ahead. To continue offering wire services post-2025, banks must adopt compliant solutions now. Download our latest whitepaper and find out how you can start your journey without delay.

In a thriving payments landscape, smaller financial institutions play a vital role. However, new PSR regulations could unintentionally put these institutions at risk, especially concerning APP fraud losses.