Making it to faster and real-time payments poses real-time challenges for financial institutions as they encounter an exciting new reality. But as the ramp-up continues, there comes the first and most important question: Can our systems handle it?
In search of answers, keep in mind that fast payments shouldn’t mean a rush to judgement. Before racing to replace existing systems, financial institutions should look to modernize them as they implement faster payments step by step. For in truth, the industry’s existing payment systems remain perfectly viable, proven and trusted by customers. Processing methods simply need updates to appear more real-time—even as barriers to customer adoption are removed.
