Payments modernization and technology in 2023

What are the key drivers impacting investment in payments modernization in 2023? Sponsored by Finastra, this Aite-Novarica Group survey sheds light on the latest industry trends, using data from over 100 leading global banks.

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The payments industry is undergoing a rapid and dramatic transformation.

Today’s customer demands more efficient, automated, and robust payment capabilities, forcing banks to make tough choices on prioritization initiatives to meet these demands.

For all banks, this means continued investment in infrastructure and critical decisions in selecting the right priorities and partners to execute long- and short-term strategies.

Banks not investing in more robust payments capabilities, such as real-time payments, cross-border payments, payments automation, and Payments-as-a-Service will quickly find themselves at a disadvantage in customer retention and new customer acquisition.

In partnership with Finastra, leading analyst firm Aite-Novarica Group asked 108 banks from North America, Europe, and Asia-Pacific about their priorities, challenges and investment plans in payments technology and services.

Download this free report to find out more about:

  • How many banks said that over 10% of their payments business has moved to FinTech providers?
  • What levels of investment are banks anticipating to make in their payments technology?
  • How prevalent are instant payments in the thinking of financial institutions?
  • How ready is the financial community for the ISO 20022 rollout?
  • What is the market understanding of payments-as-a-service opportunities?
  • Are we about to see digital currencies become mainstream?

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