Retail banking is an industry under pressure, and particularly so when it comes to payments. This report examines the findings from Ovum's Global Payments Insight survey and highlights the industry's challenges and priorities in 2017/18.
Globally, 57% of banks will be growing their investment in software and services in 2017. This is up from 53% in 2016 and, in many cases, reflects sustained year-on-year growth to meet increasing customer expectations and competitive challenges.
Attitudes toward immediate payments are increasingly positive. In total, 61% of banks believe IP will enhance the ability of their institution to serve its customers, a view held even more widely in the Americas.
Banks in those markets with live deployments are more likely to see (or to be experiencing) revenue growth opportunities from IP. This is a view shared by 66% of institutions in these markets.
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