Payment Modernization Strategies for Mid-Sized Banks: Preparing for 2025 and Beyond
The migration of Fedwire to the new ISO 20022 standard enables financial institutions to enhance automation, provide value-added services, and increase their competitiveness against fintechs. Here's a summary of the opportunities financial institutions can seize as interest in the benefits of this new standard continues to grow.
We explore:
- Opportunities to capture new business from corporate clients
- Customer demand for increased automation
- How fintechs are levelling the playing field
- Financial institutions’ readiness to migrate to ISO 20022
- Top challenges for adopting the new standard
- Strategic versus tactical approaches to adoption
- And more…
