The world is moving ever faster. The willingness of consumers and businesses to tolerate any delay or inconvenience is rapidly approaching zero. Fintechs are entering the market at record pace with a focus on taking profits from any inefficient market. The banking industry is starting to move. From the rapid rise of instant payments to SWIFT gpi, banks are forming a competitive response to these market forces gaining market and mind-share.
Download our fourth annual research paper by Finextra in association with Fiserv on the state of the payments market and the competitive challenges and pressures. It focuses on the challenges banks face in building intelligent experiences for their corporate and retail clients to meet their increasing expectation of speed, seamlessness and security.
The survey sets out the various aspects of banks transitioning to meet the opportunities and challenges of the ‘faster / instant’ world; the market context (new competitors, new regulations, operation and technologies) with which the banks are contending, the key issues around instant payments and building the business case to support the investment required. This information is supplemented by a look at what’s happening with blockchain and distributed ledger technology.
The research was undertaken in September 2018 and is based on a survey of over 100 financial services professionals from around the world.
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