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Introduction

Immediate payment infrastructures are set to revolutionize the fundamental relationships between corporate banks and their customers at a time when these relationships are coming under increasing strain, particularly for smaller corporates.

Highlights

  • Rollout of immediate payment services in major markets is less than two years away and will be followed by cross-border payment capability. Market participants must assess the opportunities this presents in terms of improving their services and the actions they need to take.

Features and Benefits

  • Learn how modernization based on immediate payments can improve customer relationships in areas such as cash management services.
  • Analyzes why success will depend on recognizing immediate payments and open banking APIs are closely related and the opportunities they present.

Key questions answered

  • What are the different approaches to immediate payment infrastructures in the context of inter-bank payments, and what are the pitfalls this might present in the future?
  • How can banks use immediate payments to address the issues facing corporate treasurers?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

The market landscape

  • Global rollouts will have domestic characteristics
  • Differences in the Australian and the US implementations shine a spotlight on inconsistencies in approach
  • Payment modernization in the US is making rapid strides
  • The SEPA SCT Inst project highlights the need for international interoperability
  • In the UK, attention is turning to improving FPS
  • Standards harmonization efforts are moving forward

Business benefits

  • Immediate payments can unlock new business benefits for corporates
  • Innovations based around immediate payments are a leading investment priority for corporate banks in 2017
  • Banks in Europe view immediate payments as a revenue driver
  • Banks should focus on how to innovate on top of immediate payments infrastructure
  • Immediate payments do not exist in isolation

Appendix

  • Further reading
  • Author

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