Real Time Payments
Payments around the world are undergoing radical transformation across the entire value chain. Amongst the most profound changes driving the transformation is – Real Time Payments. Real Time payments improve Efficiency reducing the time for an end to end payment and settlement.
Consumers across the Globe want and expect real-time experiences and instant gratification of their payments. Real time payments have become a rule now and not just an expectation. These rules are driven by:
- Technology advancement
- Need to reduce cost
- Customer Demand
- New Entrants in the market
Banks are under pressure to satisfy their customer demands of real time payments. However till date there is no single system that provides all the required functionality of real time payments.
- Authorization and Acknowledgement
- Transfer of money via good funds
- Transaction framework
To overcome this banks should provide best possible environment that can originate and receive large proportion of payments electronically at shortest possible time.
Banks also would need to move from legacy applications to flexible technology which could over a period of time reduce the IT budget
How we add value in Real Time Payments
- Target Operation Modelling
- Value Added Services Enablement
- Process and Technology Simplification
We have worked with banks and financial institutions globally to establish core payments systems, adapt them to innovations, and help them with Real Time Payments implementations.
We are also Partners with leaders in Payments products supporting Real Time Payments.