The banking industry is undergoing a massive transformation in the payments space. The challenges that banks face remain consistent, however what is new is the pace of new technology, ever-increasing payment volumes, and new payment rails against a backdrop of high levels of regulatory and industry change.
Over the past decade, banks in the Middle East have become increasingly focused on digital transformation. Taking a payments-first approach is almost certainly the fastest, most efficient way to realize a full spectrum of benefits.
Product portfolio diversification should be understood as a critical component of any financial institution’s broader modernization strategy.
As the need for faster, more transparent cross-border payment solutions increases across the international financial-services sector, banks and financial institutions in the Middle East and Africa (MEA) continue to shift their focus and resources toward payments modernisation.
We look at the current state of instant payments in Spain and the broader Iberian Peninsula, in addition to highlighting some unique opportunities for banks throughout the region to emerge at the forefront of innovation.
Lenin Desai, Volante's ISO 20022 service product manager, answers some questions on his background and the payments industry.
Cloud delivery models are currently dominating the payment infrastructure market, but this was not always the case when it was initially considered an unregulated fringe technology. Better regulations have made the cloud more resilient and appealing even for conservative banks.
As a long-time global leader in payments innovation and efficiency, the Nordics are now transitioning from localized standards to international, cross-border standards. So how will these changes affect the instant payment landscape across the Nordic region, and how can Nordic banks prioritize instant payment innovations?
The Federal Reserve recently announced that its long-awaited instant payments service, FedNow, will officially begin operating in July, 2023. The service has been in the works for quite some time, with more than 100 payments processors and financial institutions having already participated in an initial pilot program.
As the financial industry continues to evolve, the fintech sector has emerged as a highly lucrative career option. The constantly evolving nature of fintech makes it a dynamic and exciting place to work.
In 2025, ISO 20022 messages will become a universal requirement for executing cross-border transactions. Volante sat down with Celent’s Senior Payments Analyst, Gareth Lodge, to discuss the current state of ISO adoption within the global financial industry, as well the challenges and benefits of migration.
Financial institutions operating in Latin America must ensure they’re prepared for the current (and continued) reality of payments in Chile.
