Displaying 1 - 10 of 57 Immediate Payments blog posts
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Monetizing Real-Time and Open Payments – A Global View from Leading Banks
Monday, December 17, 2018 Craig Ramsey to Immediate Payments, Payments and Industry TrendsPayments experts from Bank of Montreal, Lloyds Bank and Rabobank lead a discussion on #NewPayments use cases.
During Sibos 2018, I was lucky enough to moderate a panel of payments experts from around the globe, including banking leaders representing three key phases of the real-time evolution; early adoption, go-live and ‘wave 2.’ Here, I’d like to share insights from these experts, outlining the challenges and rewards for banks in the new real-time and open payments ecosystem.
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All I Want For Christmas (Or Any Holiday) Is… Instant Payments Gratification
Friday, December 14, 2018 Dan Ring to Payments and Industry Trends, Immediate PaymentsMark, some of us are fast approaching the end of the holiday shopping season, some of us are fast approaching that time of year when we consume too much egg nog, and some of us are fast approaching too many viewings of Die Hard or It’s a Wonderful Life or Love Actually or Christmas in Connecticut (I’ve disclosed too much about myself). To segue slightly more than slightly, I was at Target over the weekend, braving the holiday shopping crowds, to buy toilet paper, paper towels and tissues… and I took advantage of the 5% off that I get from using my Red Card. I surveyed the throngs of other consumers in the nearby checkout lines and not once did I see another store card. During this, the biggest shopping season of the year, why wouldn’t consumers use loyalty/rewards cards when making purchases?
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Instant Payments in Italy – And Beyond: Lessons from Il Salone Dei Pagamenti
Wednesday, December 12, 2018 Giorgio Tidu to Transaction Banking, Retail Payments, Immediate PaymentsACI was invited back to Il Salone dei Pagamenti – Italy’s premier payments event organized by the Italian Banking Association (ABI) – to participate in a panel, “SEPA Inst – the Future.” As expected, the session was packed with stats and advice for a more efficient roll out of instant payments – in Italy and beyond.
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Request for Pay – What Does It Mean For Financial Institutions?
Wednesday, October 17, 2018 Paul McMeekin to Immediate Payments, Retail PaymentsWhat do banks – one with $60B+ in assets, one a mid-size regional bank, and one, a small innovative credit union – have in common with payment networks and the ‘Big 4’ consulting firms? They were all part of the first ACI #PaymentsForBreakfast event in North America! The theme was real-time payments, but the focus was more specifically on Request for Pay.
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Why Open Banking Might Need to Rely on a Magic Illusion of 24x7 Availability
Tuesday, October 16, 2018 Lu Zurawski to Immediate Payments, Retail PaymentsThe adage “the more things change, the more they stay the same” appears to ring true when applied to the early phases of the evolution of open banking (or open payments). Especially when you contrast it with the early days of ATM withdrawals; particularly those made in the dead of night so you could pay cash for your after-party greasy feast.
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Open Banking and the Evolution of Digital Payments
Tuesday, September 04, 2018The introduction of Open Banking is without doubt one of the most significant changes the European banking sector has seen in recent years. Many banks in the US, Australia and Asia are paying close attention to what’s happening in the UK and other European countries with a view toward implementing similar systems in the future.
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What's Next for SWIFT gpi and Cross-Border Real-Time Payments?
Thursday, August 30, 2018 Craig Ramsey to Immediate PaymentsRecently, I wrote about the potential benefits of SWIFT gpi for banks. Like any technology, the rate of change is accelerating, making it critical that banks keep pace with the market and with their competition. In 2018, as domestic real-time payments schemes reach near-ubiquity thanks to a combination of regulatory and customer demand drivers, we have seen an accelerated parallel trajectory for cross-border real-time gross settlement (RTGS) payments.
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Turning Impetus into Action: Real-Time Payments in ASEAN
Thursday, August 09, 2018 Leslie Choo to Immediate Payments, Payments and Industry TrendsFinancial institutions across ASEAN member states are increasing investment in payments, with 64% planning to increase investment over the next 18-24 months, compared to 56% in the broader Asia region and 53% globally. With investment in ASEAN outpacing the global average, the “2018 ASEAN Payments Insight Survey” shines a light on the key drivers for increased payments investment and the expected benefits.
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Time is Money: A Millennial View of UK Faster Payments’ 10th Anniversary
Monday, July 09, 2018 Ciaran Chu to Immediate PaymentsAs a millennial, I’ve often been the butt of jokes of those a little bit older than I am (whether colleagues or my own family). One of the clichés perpetuated is that we are constantly glued to our smartphones: In a way that’s correct, but misses an important point. As a young millennial professional, the most important thing to me is TIME. And that’s the reason my phone plays a crucial role in my life – much to the annoyance of my girlfriend and family. It means I can do things on the move, which in turn makes my life a whole lot easier.
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Instant + Open Payments = A Winning Combination
Wednesday, June 27, 2018 Craig Ramsey to Immediate Payments, Transaction BankingI recently joined a panel discussion at EBAday 2018, alongside representatives from across the payments ecosystem, and the clear consensus was that real-time payments will be the new normal. This was evidenced by some of the interactive polls carried out.