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The Future of Payments: Evolution, Innovation, and Transformation Mobile Banner

The Future of Payments: Evolution, Innovation, and Transformation

Insights from Tapan Agarwal and Srini Kasturi

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Key Highlights from the Discussion

Point1

Payments have evolved from multi-day settlements to instant transactions, enabling embedded finance and agile treasury management.

Point2

Corporate treasurers prioritise real-time visibility over real-time movement, focusing on automation and enriched data.

Point3

For effective corporate payment platforms, banks need low-code/no-code integration, auto-repair, and embedded payments.

Point4

Regulatory-driven innovations like CBDCs, tokenization, and digital networks are transforming payments.

Point5

Instant payments improve working capital but require fraud prevention and scalable infrastructure.

Point6

ISO 20022 enhances standardization, richer data flow, and treasury efficiency with a ‘build once, deploy many’ model.

Watch Tapan Agrawal decoding the topic in depth at the BAFT Europe Event in Jan 2024

The Future of Payments: A Perspective by Srini Kasturi - Group CTO at Moneycorp

Emerging Market Trends Indicate an Optimal Moment for Implementing AI in Payment Systems

As Payments has evolved In the Last 5 years

24 countries introduced real-time

Today, more than 70 countries support real-time payments

195 billion Instant payments in 2022 – 63% YOY Growth

Open Banking

195 billion Instant payments in 2022 – 63% YOY Growth

Enhanced Remittance Information in ISO20022

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