For a long time, cross-border and high-value payments were considered a less innovative segment of the financial industry. Apart from the introduction of online banking, little has changed here in recent decades. But then numerous FinTechs entered the market for easily standardised financial services. And now the European and international payments landscape is changing ever more dynamically: ISO 20022, SWIFT gpi and instant payments are the buzzwords of payments of the future.
Simple, fast and transparent payments processing in a secure environment with better service quality is just one goal of cross-border payments. SWIFT gpi addresses precisely this issue, but of course, a single new service is not enough. Innovative cross-border real-time payments services are transforming the global financial landscape.
At the same time, financial institutions have to continuously adapt new regulations, standardisations and initiatives from the industry – such as the ISO 20022 standard in TARGET2 or SWIFT. The initiatives are driven by various players and hold the potential for massive upheaval in the international payments landscape. In order to hold strong in the face of this, financial institutions must optimise their processes, use new technologies and consistently implement digitalisation strategies.
PPI advises financial service providers with in-depth, decades-long expertise in the definition and implementation of individually required measures. Our payments experts support the institutions at every point on the way to the market for global payments of tomorrow – from the definition of the strategic orientation and the selection of suitable solution providers to concrete milestone planning for the implementation of new applications.