Real-Time Payments and Corporate Mobile Banking Expected to Rise Within Five Years

In a survey of over 200 financial industry professionals at Sibos, payments provider ACI Worldwide found that real-time payments and mobile banking platforms are expected to rise rapidly over the next five years.

Over 83% of respondents said that processing transactions in batches will be replaced with real-time authorization and execution of transactions within this timeframe.

“We’ve long anticipated the move toward real-time payments, and the response from both these survey participants and the community at large further validates our belief,” says Paul Thomalla, senior vice president and managing director of EMEA, ACI Worldwide.

While most respondents agreed that the trend is moving toward real-time, 77% think that operating in silos is what’s holding the transition back, as it’s difficult to introduce new practices and systems across multiple silos.

In addition to believing that payments will move to real time, 64% of respondents said that a mobile banking experience will be the greatest demand from corporate customers over the next five years.

“The same desire for convenience and anywhere, anytime access that has made mobile banking and payments popular among consumers is also fueling the demand for a rich corporate mobile banking experience, as noted by the survey results,” says Thomalla. “Corporate mobile banking needs to be a seamless part of a larger online banking strategy. To drive the necessary innovation, successful companies will take a universal, enterprise-wide approach to payments infrastructure.”