Real-Time Payments is a Key Driver of Innovation for Majority of Banks Globally, Study by Ovum and ACI Worldwide Reveals
September 18 2019 - 2:00AM
Business Wire
Real-time payments are at the heart of the innovation agenda for
the majority of banks worldwide. 96 percent of banks globally state
that they will develop new and innovative services on top of their
investment in real-time payments in 2019 and 2020, according to the
Culture of Innovation Index by ACI Worldwide (NASDAQ: ACIW) and
leading research consultancy Ovum.
The research also reveals that 92 percent of banks globally
expect to grow revenue from real-time payments, reflecting the
degree to which real-time has come to underpin a new wave of
product innovation and revenue opportunities.
“Our research shows that real-time payments infrastructure is
either a direct enabler or closely linked with most of the new
services and propositions banks are developing globally,” said
Craig Ramsey, head of real-time payments, ACI Worldwide. “The
majority of banks globally are beginning to understand that
real-time payments, especially when combined with Open Banking,
have a huge potential to help banks grow revenue and attract new
customers.”
Other key findings:
- Almost half of banks (47 percent) report that real-time
payments overlay services are a top three product investment
priority, and one in three (27 percent) rank this as their biggest
single priority
- Other leading areas of investment are Open Banking (33
percent), leveraging transaction data to improve services (43
percent) and removing friction from the payment authentication
process (48 percent)
- 95 percent of banks globally report that Open Banking has
helped change the way they approach delivering new products and
services; however, 75 percent still view Open Banking/APIs largely
as a compliance issue
- 74 percent of banks plan to move mission-critical workloads
into public cloud infrastructure either this or next year and 89
percent either have already made significant use of cloud or are
planning to make further investments in 2019/20
“The most innovative banks recognize that investment in
real-time payments infrastructure is a strong foundation for
sustainable innovation,” continued Ramsey. “Real-time payments are
a key building block for delivering continuous improvements in
products and services for their customers.”
Visit ACI Worldwide at Sibos 2019 in London (booth Q125) and
learn how to accelerate business with real-time payments and open
banking strategies. Join ACI’s Geoff Tunbridge, director, solutions
consulting, as he takes attendees on a global tour of real-time
payments in his session, Real-Time Payments - global state of play,
lessons learnt, and how to make money (Wednesday, Sept 25,
14:00-14:30, Open Theatre 1).
About ACI Worldwide ACI Worldwide, the Universal Payments
(UP) company, powers electronic payments for more than 5,100
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises or through ACI’s private cloud, we provide real-time,
immediate payments capabilities and enable the industry’s most
complete omni-channel payments experience. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019 ACI, ACI Worldwide, the ACI
logo, ACI Universal Payments, UP, the UP logo and all ACI
product/solution names are trademarks or registered trademarks of
ACI Worldwide, Inc., or one of its subsidiaries, in the United
States, other countries or both. Other parties' trademarks
referenced are the property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20190917005831/en/
Katrin Boettger E-mail: katrin.boettger@aciworldwide.com Phone:
0044 (0)7776 147 910
Dan Ring E-mail: dan.ring@aciworldwide.com Phone:
781-370-3600
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