Transforming the Payments Ecosystem
Open Banking, the Shareable Economy, and Regulations like PSD2 have leveled the playing field between Banks and FinTechs driving the need for digital transformation, straight through processing (STP) and infrastructure innovation. Banks need a more cohesive user experience across different payment platforms where a retail and wholesale customer might be the same but getting a completely different experience. User journey design and intelligent automation are key to creating those experiences. In fact, Aite Group estimates that 40% of large and midsize banks will be live with an STP receivables solution by the end of 2020.
Synechron is working with financial institutions across banking and wealth management to re-think their payment strategies in an environment where open banking, micro-payments and shifting infrastructure requirements and standards are pushing a move toward Real-time Payments (RTP). Learn more about some of these trends in our recent infographic, “How Digital Transformation, Uber, PSD II and Open Banking are Transforming the Payments Ecosystem and Banking.”
To stay ahead of the competition, we can help you accelerate digital innovation across the payments ecosystem and re-design evolutionary cards, payments, and loyalty programs with innovative and award-winning Accelerators such as Synechron’s blockchain payment accelerator to automate real-time global payments across a distributed Ecosystem of participants and other Accelerators in Synechron’s Financial Innovation Labs.