Instant Payments and Data – The Next Wave of Modernization in Banking Infrastructure
The shift toward instant, real-time payments highlights the urgent need for banks to process payments in a more efficient manner, requiring an update to their infrastructure and the manner in which they manage and process data.
Real-time payments bear a significant impact on liquidity and cash flow requirements at financial institutions. This impact has already led to the emergence of trends such as the modernization of risk and fraud infrastructures. Additionally, the incoming ISO 20022 deadlines along with other regulatory drivers for financial institutions mean that gaining control over data is becoming increasingly significant.
Banks need support in orchestrating and processing real-time payments, particularly with regard to data that needs to be integrated across multiple regions. Financial institutions require the technology to combine the processing of transactions and keeping data in one place in order to keep real-time payments speedy and intact. Increasingly, banks are using third parties to assist in this transformation, and reap the benefits that robust data infrastructure can provide.
Watch this Finextra on-demand webinar, hosted in association with Hazelcast, to listen to our panel of industry experts as they discuss the following areas:
- Why is data intrinsic to improving real-time payments?
- Why is modernizing infrastructure for banks becoming increasingly important in the push toward real-time payments?
- How can banks better control their data to adapt to pressures from regulators?
- What are the challenges banks face in delivering real-time payments in the current financial climate?
- Why should banks look to building partnerships with technology providers to assist them in their journey to real-time payments?