Financial institutions have long been required to build and implement robust, secure processes around core digital transactions such as online payments and financial transfers.
Corporate banks are lagging when it comes to hyper-personalisation whilst clients need real-time liquidity, visibility, system connectivity, and instant access to cash.
Data is critical to every financial institution; it is recognised as a core asset to drive customer growth and innovation.
Addressing financial inclusion is a priority for many fintechs and financial services providers.
The current instability being witnessed across the global economy at large means that financial institutions must form trustworthy partnerships to manage risk, meet regulatory obligations and remain innovative.
The ability for banks to survive in financial services is increasingly connected to their agility and ability to adapt at speed.
Payments infrastructures of yesterday were characterised by coding-intensive, monolithic architectures that are slow, risky to change and rarely lend themselves to simplified scalability.
High interest rates and soaring inflation are building expectations that a recession is looming. Previous recessions have seen banks tighten their credit control, making it more difficult for small businesses to gain access to credit. SMEs which are already struggling to manage their financing and cashflow often receive little support from banks.
Despite the leaps in progress, many banks are still struggling with digital transformation.
Despite the breakdown of borders permeating today’s digital economy, e-commerce businesses selling cross-border still need to manage FX currency receipts and exchange rate volatility to improve their bottom line and ensure operational efficiency, without impacting the buyer experience.
Key trends currently driving CBDC discussions across the globe.
The New Payments Architecture (NPA) will be the foundation for the future of the UK payments infrastructure.