Register for our latest webinar with Volante on at Tuesday 18 May 2021 at 15:00 BST as industry experts discuss if the ‘instant’ has been taken out of instant payments adoption for corporate banks.
As the push toward digitalisation took hold in 2020, real time or instant payments have played a core part of financial institutions’ pivot toward straight through experiences for their customers, particularly for consumers. Over 50 instant payment schemes currently exist around the world, yet in contrast to consumer payments, the way in which corporates will leverage instant payments remains to be fully tested.
Further, though launched in 2017, and despite the fact that participation for certain services is mandatory (such as TIPS by November 2021), financial institutions are only now recognising that they must make better progress toward delivering corporate real time payment capabilities with SEPA Instant Credit Transfer (SCT Inst).
Designing effective ways to serve both existing and new corporate customers has never been more important, and allows banks to differentiate themselves through value-added services, from consumer-grade payments experiences to improved liquidity management. Speed of onboarding is a critical factor, as the sooner and the more effectively clients can be onboarded, the sooner instant business can commence.
The emergence of more recent schemes, such as P27 in the Nordics, widens the range of possibilities, but also increases the complexity of adoption for banks that do business in multiple regions
Sign up for this Finextra webinar, the second of four in a series in association with Volante Technologies during 2021, to join the industry expert panel discussion on the following areas:
- How are various instant payment strategies and schemes progressing worldwide?
- Has the industry embraced SEPA instant in the way initially anticipated?
- How has Covid-19 impacted the progress of SEPA instant uptake?
- What different paths have institutions taken to adoption, and what are the pros/cons of different approaches?
- What value does faster onboarding to instant payments offer not only to corporates but to financial institutions themselves?
- How can banks create additional layers of value and service to attract new customers? What are the success stories?
- Gary Wright - Head of Research, Finextra [Moderator]
- Domenico Scaffidi - Head of Market Infrastructures, Volante Technologies