Instant gratification is weaved into almost everything that touches experience and payments is no exclusion. There is an expectation that value exchange be as real-time as possible, and finality of these settlements define many of the models that financial institutions are working towards. With the payments market infrastructure getting uplifted in almost every major country, Real-time payments (RTP) and ISO20022 based payments are expected to change the landscape significantly.
RTP also brings along a rich data and information to improve transactions and payment data quality, providing more opportunities for analytics and insights. This can help financial institutions hyper-personalize services for its customers and drive growth and improvements in many areas. RTP also warrants additional investments to beef up the compliance infrastructure of financial institutions. This panel discussion explores these key changes to the payments market infrastructure and identify insights to consider moving forward.
