In the third and final edition of this blog series, we take a closer look at the instant payments journey and address communicating the value of instant payments to secure approval and support from the C-suite.
In part two of this blog series, we’ll take a closer look at how respondents are approaching key interoperability challenges and the integration of emerging networks, as well as the increasing role of cloud and PaaS solutions in accelerating global payments modernization.
While it may feel like a bare-minimum approach ahead of the imminent FedNow rollout, launching instant payments in receive only mode is actually an incredibly smart strategy for banks not ready to go all in and comes with a number of significant benefits.
The European Central Bank announced that they would be delaying the move to the new TARGET2 system also using ISO 20022 HVPS+ messaging, stating that participants would require more testing time. Is SWIFT next?
In part one of this two-part blog series, we’ll highlight some key insights revealed about the current state of readiness among financial institutions, as well as their evolving plans and priorities.
Should you be moving forward with your plans to enable transactions on RTP, or simply wait for FedNow? When exactly should you be prepared to offer instant payments services to your account holders?
Due to the pre-existing widespread utilization of TCH’s RTP network, the first iteration of FedNow will exist primarily as an alternative to RTP, and there remains considerable redundancy between the two systems. So where do the two systems differ?
Bringing to market a new ecosystem of connected, intelligent solutions that allow financial institutions to provide real-time insight and automation to their corporate customers.
To meet today’s customer demands and regulatory mandates, financial institutions need to modernise their payments infrastructures and partner with innovative payment providers, co-creating a digital payments ecosystem based on newer hub models.
Highlighting the importance of ISO 20022 adoption, addressing some common challenges facing participants in the UK payments ecosystem, and identifying the essential elements of a smart modernization strategy.
For Part 2, we’ll look at a few advantages of integrating the new standard and highlight the importance of implementing a migration strategy that aims to maximize these benefits wherever possible.
As November 2022 approaches, it’s crucial for any financial institutions that process cross-border transactions within the SWIFT network to understand their requirements as it relates to ISO 20022 migration.
