Insights from industry leaders
The new rules for payments of PSD2 were supposed to open up the financial world. But so far it has not (yet) led to the promised revolution. "No reason to panic", according to Gijs Boudewijn, Deputy General Manager at the Dutch Payments Association.
The ECB's ultimate goal is to make electronic payments accessible in real time, 24/7, from and to any country in the EU. However, Instant Payments has not yet become the standard everywhere.
Correspondent banking is faced with a paradox: while connections are declining as a result of consolidation, volumes are growing., volumes are growing. We feel a positive mood around correspondent banking. However, collaboration is needed.
Technology has long been a critical enabler of the financial services industry. Innovative solutions such as AI, ML, APIs and real-time payments but also Public Cloud, are driving significant benefits at financial institutions today.
Instant Payments is on its way to becoming the new normal. To unlock the full potential, stakeholders must distinguish between a competitive and non-competitive space, says Michael Steinbach, CEO equensWorldline.
