How European banks should future proof their payments platforms
Institutions have a short window to get ahead of market, technological and regulatory changes
Marijke Koninckx, Chief Product Officer at Bankifi, talks with Julie and Mike about a range of hot topics including embedded finance, Request-to-Pay, Variable Recurring Payments, Confirmation of Payee and the true value of Open Banking as a way to help SME businesses survive current market challenges.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded at the EBAday 2022 event in Vienna. The buzz of conversation in the background conveys the phenomenal vibe at the first in-person payments event for Europe since 2019. Enjoy!
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RedCompass Labs
Institutions have a short window to get ahead of market, technological and regulatory changes
Payments modernization is still manual. AI can change that, but only if we can prove it
Most payments modernization projects overrun, go over budget, and fail to deliver to the original spec.
Over half of banks have delayed or scaled back a project.
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Payments are evolving faster than many banks can respond
The gap between what banks need and what their payments platform delivers
Why does this happen?
From Open Banking and stablecoins to fair fees and faster access
We once trusted humans to type payments over telex.
Payments modernization has four systemic issues. Can we fix them?
Swift has provided a range of support options for contingency planning.