As financial institutions face evolving payment demands, they often implement payment hubs to streamline services such as ISO20022-compliant wire processing or new instant payment rails like RTP and FedNow.
Unlocking Full Value with Payment Hubs: Why Comprehensive Payment Strategies Matter
Topics: Payments, Payment Strategies
In today's fast-paced financial services environment, core modernization is no longer just a buzzword but a critical factor for the strategic growth of financial institutions. As institutions look towards core modernization, the "nice-to-have" sidecar core solutions that were once considered niche have now reached the mainstream and drive strategic discussions among fintechs, banks, and credit unions of all sizes. The future of banking is being reshaped, and core modernization is at the heart of the conversation.
Topics: Core Systems, Core Platforms, Core Processing
Exploring the Innovation and Market Potential of Request for Payment
We are heading into the height of industry conference season. One of my favorites is the Association for Financial Professionals’ annual conference. This year’s event, AFP2024, will take place in Nashville from October 20-23, and I’m honored to be moderating a panel on Request for Payment alongside colleagues from Netflix, US Bank, and The Clearing House.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management
Will DOJ Antitrust Suit Against Visa Change the Payments Landscape?
Roughly a week ago, the US Department of Justice (DOJ) filed an antitrust lawsuit against Visa, calling into question how they retained and gained its debit card market share in the post-Durbin era. The DOJ has alleged that Visa created a “web of unlawful anti-competitive agreements to penalize” financial institutions, merchants and processors for using competing payment networks. In addition, the DOJ suspects the card network used its monopoly power to squash innovative and potentially lower cost debit alternatives by companies such as Apple, PayPal, and Block. But what could this lawsuit mean for the payments industry moving forward?
Topics: Payments