Real-time transaction processing brings opportunities as well as challenges to European banks.
London, 2 July 2014 – Real time is the very nature of our digital lives: Everything and everyone is connected, and technology is now capable of making every end-to-end transaction immediate. Real-time payment (RTP) services allow bank customers to send or receive payments almost immediately, improving the customer experience, increasing operational efficiency, and creating better data visibility. Although RTP isn't a new concept and RTP systems exist around the globe, changing consumer behaviors, the technological power of mobile devices, broader adoption of international messaging systems, and increasing concerns over fraud management are deeply impacting this important initiative on the European payments agenda.
This Impact Report is based on a 2014 Aite Group online and telephone survey with 22 senior managers at international and European banks, payment processors, and banking organizations, and it explores key drivers, main challenges, and customer and bank benefits for RTP adoption in Europe.
This 31-page Impact Report contains 19 figures and one table. Clients of Aite Group's Wholesale Banking & Payments service can download this report.