The imperative for payments modernization: Doubling down before it’s too late
While the need for modernizing their payment infrastructure is clear, many banks were reluctant or unable to modernize their payment infrastructure due to the high cost, risk, and complexity involved. This report from Celent explains why banks need to act now to avoid losing their competitive edge or even their ability to operate and how they can ensure their payments modernization success.
The payment landscape is evolving at an unprecedented pace, with 83% of banks anticipating the pace of future changes will further accelerate. Many banks understand that modernizing their payment infrastructure is now more critical for banks than ever before. According to a Celent survey, one-third of banks are prioritizing their payments infrastructure modernization programs for 2024. There are very few projects within a bank that will be of the same scale, complexity, or importance as payments systems modernization, thus getting it right is extremely critical. This new report from Celent outlines the key factors banks must consider and the key imperatives for a successful payment modernization program.
Download this free report to learn more about:
- The current and future impact of outdated and inadequate payment systems
- What factors to consider before embarking on a payments modernization program
- What factors to consider when choosing the right payment solution
- How to choose the right operating and deployment models
- The key modernization foundation that will also enable banks to respond to future needs