This session will focus on corporate adoption of ISO 20022. Corporates will share their perspectives on ISO 20022 adoption in the corporate-to-bank and bank-to-corporate space.
In a world where emails are free, why should payments cost anything? Once the payments modernization plan is fully executed and allows for increased access, expect new business models and strong competition to emerge. Consumers will be the real winners.
Real-time payments is now a reality with more than 30 schemes live around the world. However, not every scheme has been successful. A mixed response to real-time payments has led to countless opportunities for customers and businesses in some countries, whereas in other countries, consumers have not fully embraced real-time payments. In addition, as the need for cleared payments in real-time increases, so do the opportunities for fraud to occur. As real-time approaches Canada, ensuring the success of the country’s new real-time rails is essential to ensure such opportunities aren’t passed by. This session will explore the reasons behind the mixed responses to real-time payments around the world as well as potential products and revenue opportunities. In addition, it will cover key environmental changes that banks need to make to ensure they are successful, such as speed of processing, strong resilience, and required back-office functions including exceptions handling and fraud protection.