From Potential to Profit: Five Ways FIs Can Break Barriers to Benefit from Instant Payments
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As FedNow® celebrates its first year and RTP® reaches $1 billion in monthly transactions, the demand for instant payments is undeniable. But how can financial institutions (FIs) capitalize on this trend?
The U.S. Faster Payments Council and Finzly’s new report, based on a May 2024 survey, provides actionable insights for FIs to navigate challenges and take advantage of the opportunities with instant payments. Two-thirds of FIs see send capabilities as crucial for adoption and profit. However, only 15% of FedNow participants offer send capabilities. Get expert analysis and actionable strategies to overcome the top 5 barriers to instant payments profitability.
Highlights of the report:
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73% cite legacy systems as barriers to send instant payments. Find out how financial institutions are overcoming these challenges and going to market in weeks.
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78% identify corporates as the primary source of instant payments revenue. Discover how to power B2B instant payment use cases through Request for Payment.
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65% of FIs believe that offering instant payment capabilities for both sending and receiving will increase customer adoption. Learn how to make sending payments seamless.
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