The dialogue in the U.S. payments ecosystem has irreversibly shifted toward offering increased speed, more choices, and simpler ways of sending and receiving payments.
According to a recent survey from Volante, 25% of executives at mid-tier financial institutions are actively modernizing their payments systems. Real-time payment settlements emerged as the top priority for banks today, followed by gaining additional API software, which is critical in the era of digital finance and interconnected ecosystems.
For banking executives, the five key challenges of payments modernization that must be addressed over the next 12 months are:
In this white paper, written in collaboration with American Banker, banking experts share ideas about how to approach the urgent challenges and opportunities of modernization. Read on to learn about their insights.