Displaying 1 - 10 of 126 Transaction Banking blog posts
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Modernizing Cross-Border Transfers with SWIFT gpi
Wednesday, July 25, 2018 Craig Ramsey to Transaction BankingThe customer experience for domestic payments – retail and corporate – has recently undergone a complete transformation. There’s still plenty more that could be achieved, but the advent of real-time payments in combination with open APIs has seen the launch of Request for Payment services and direct eCommerce instant payments in the UK and Europe. And it’s not just the PSD2 push in Europe that’s driving change – in the U.S., Zelle is moving beyond standalone P2P payments to become an integrated part of the retail banking app experience, as well as being included in new kinds of corporate disbursements.
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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.
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Maintain Vs. Invest: What the Digital Era Ushers in for Banks
Thursday, April 12, 2018 Paul Thomalla to Transaction Banking, Payments and Industry Trends, eCommerceTaking place this week in Brussels, the European Credit Research Institute (ECRI) will host a high-level debate on how policymakers can build on the process of digitalisation of banks to raise competitiveness in light of increased competition from fintech start-ups and tech giants.
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How the Merchant Payment Ecosystem Can Create Value in Instant Payments
Tuesday, February 27, 2018 Dean Wallace to Immediate Payments, Transaction BankingRecently, ACI conducted some research into the appetite to make use of instant payments among corporates. The results were overwhelmingly favorable, but when we think about the benefits of immediate payments for corporates, it does seem obvious that they would want to leverage this new payment type.
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Real-Time Payments Will be Europe’s Most Dominant Payments System – Are You Ready to Realize the Full Value?
Monday, February 12, 2018 Domenico Scaffidi to Immediate Payments, Transaction BankingSince the launch of the SCT Inst rulebook in November 2017, many more banks are live and offering real-time payments to their customers, with most of the rest committed to 2018. The buzzword at the recent ECB #TIPSapp Event in Frankfurt was ‘Interoperability,’ or as my friend José Beltrán from STET would say, ‘Reachability.’ No-one expressed this more clearly on February 6th than Javier Santamaria, President of the European Payments Council, when he reiterated his message from Il Salone Dei Pagamenti, the day after the SEPA launch; "We have launched the Pan-EU scheme, now it is up to you in the audience and beyond to take advantage of it and make it work."
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The Hammer Finds Its Nail: Open Banking and Commercial Cash Management
Wednesday, January 31, 2018 Mark A. Ranta to Transaction BankingGlobally, the Open Banking story has been shaped by Europe, thanks to PSD2 (The Revised Payment Services Directive) and the effect that it will have on us as everyday consumer banking clients. This will forever change our experience with financial tools for the better.
The banks that have traditionally served us will modify their models to support the foundational layer of a new ecosystem of co-invention and partnership. This story is all well and good, but so far most – if not all – of the discussion has surrounded the consumer experience and has neglected where the most fertile ground for change and disruption lies—corporate and commercial banking.
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Three Ways to Build Your Business Case for Real-Time Payments
Tuesday, October 10, 2017 Craig Ramsey to Transaction Banking, Payments and Industry TrendsIn the UK, faster payments are well established, and we have seen new innovations as well as new businesses being built since May 2008. In Singapore, which went live in 2014 with its Fast and Secure Transfers (FAST) scheme, we are starting to see similar innovations. And we can expect similar seismic shifts in payments innovation for years to come, as Instant Payment schemes in Europe and Real-Time Payments in the US go live, ubiquity increases and real-time payments become the new normal.
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Three Reasons Why Corporate Banks Must Invest in New Security Measures
Friday, September 29, 2017 Craig Ramsey to Payments and Industry Trends, Transaction BankingThe New Payments Ecosystem brings great opportunities, if banks can mitigate the new risks and threats that arise. Real-time and open payments enable a wealth of new revenue streams; however, the potential for growth must be balanced against maintaining payments security. They cannot break the bank.
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What’s Your Small Business Banking Bacon?
Friday, August 18, 2017 Missy Rose to Transaction Banking, Retail PaymentsEvery hip recipe has bacon in it these days. So why shouldn’t your digital banking experience be the same? After all, it’s a yummy addition that gives a standard dish that extra flair.
Small business banking has been a prodigious untapped market for over a decade. Banks desperately strive to make revenue from this market, but in most cases, they have struggled to do so.
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The ATM Turns 50: Why Evolution Is Key For Its Survival
Monday, July 10, 2017 Katrin Boettger to Payments and Industry Trends, Transaction BankingThe ATM turns 50 this year and half a century on ATMs remain popular with consumers worldwide. Banks and building societies more than ever see ATMs as a key channel of communication and interaction with their customers and many are now offering ATM services that go beyond simple cash withdrawal. We spoke with Paul Horlock, Director for Payments at Nationwide, one of the biggest high street financial providers in the UK. Nationwide has been working with ACI Worldwide for over 30 years and currently uses ACI’s BASE24 eps solution to power an estate of around 700 ATMs across the UK.