Instant Payments

Instant Payments enable banks to process transactions within seconds on a 24/7/365 basis. Although Instant Payments are expected to be widely adopted across the globe in 2019, some countries already have implemented domestic instant payment schemes. And they have proven a success in countries such as the United Kingdom, Japan, Poland, Sweden, Denmark, Singapore and Mexico.

In order to benefit from this advanced technology, banks need to update their systems, because the whole payments chain needs to support the instantaneousness of payments. To achieve this, it is necessary to modernise the payment industry in line with the rest of the digital world and this comes with the need for big investments.

Read all the latest news and insights, reported straight from Sibos 2018 here.

How Instant Payments can make Europe a leader in innovation

By Tom Nijenhuis

Exciting times are approaching for the ECB now that the pan-European infrastructure TARGET Instant Payment Settlement (TIPS) is going live next month. This platform enables banks to initiate immediate payments 24 hours a day, 365 days per year. 
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SIBOS Wrap-up – Key themes of 2019 identified

By Tom Nijenhuis

Looking back, Sibos was an outstanding event where collaboration between banks and fintechs was encouraged, the importance of data was regularly highlighted, the shift from B2C to corporate banking was frequently discussed, the customer experience was underlined as crucial and the necessary change of banks was repeatedly mentioned.
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Why banks are gradually embracing PSD2, fintechs and Instant Payments

By Paul Jennekens

Liz Oakes, Associate Partner at McKinsey & Company, tells equensWorldline why it is good that banks, partly under pressure from the PSD2, are increasingly seeking cooperation with fintech companies. She explains how companies are discovering the power of Instant Payments.
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TIPS – The Eurosystem’s response to an evolving payments landscape

This session, hosted by Marc Bayle de Jessé of the ECB, will provide first-hand insights from connecting banks on TIPS before it goes live on 30 November 2018. What has motivated them to join TIPS? How are they preparing for the launch? And what strategy will they apply for their instant payments roll-out?
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What Europeans can learn from Australia's Instant Payments experiences

By Tom Nijenhuis

Most payment experts believe that Instant Payments (IP) will become the primary payment method in the future. This is one of the conclusions of the Really a real-time reality session on day 2 of Sibos. During this session, NPP Australia, EBA Clearing and the ECB shared their IP experiences. 
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More hot reports from Sibos? Read all our Sibos-related blogs

We focused on Instant Payments, Open Banking and Future Developments and  published 'live' reports on numerous sessions that took place during Sibos 2018.