Why modernizing payments infrastructure is more than just back-office efficiencies
As financial institutions prepare for a future rife with disruptions in payment processing, payment hubs are gaining popularity. According to Omdia, over 58% of banks are expected to increase their investment in these systems in 2024 alone.
Banks that resorted to patching old systems or implementing temporary fixes accumulated technical debt. This now hinders their ability to innovate, respond to market and regulatory changes, deliver payment services efficiently, and handle a growing number of transactions.
By adopting a modern and agile payment hub, your bank can quickly embrace new payment schemes, present new value-added services to customers, and greatly reduce the overall expenses of processing payments.
A new report by Omdia provides additional market insights and highlights the essential payment hub characteristics institutions must consider so they can keep up with emerging payment trends and stay ahead of the competition.
Read the report to learn why a modern payment hub should have:
- Microservices based architecture and open APIs
- A DevOps approach with cloud and ISO 20022-native technologies
- ML and Gen AI capabilities
- Standardized payment processing workflows
Unlock the potential of next-generation payment processing with this exclusive report.