Sibos 2020: real-time payments drive innovation, says Microsoft

Elly Yates-Roberts
By Elly Yates-Roberts on 14 October 2020
Sibos 2020: real-time payments drive innovation, says Microsoft
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Real-time payments (RTP) can help banks to drive innovation, boost revenue and help customers, says Microsoft, in a new white paper launched at the Sibos 2020 event titled 4 ways that forward-thinking banks are using real-time payments to drive innovation.

“RTP is a big win for customers,” said Microsoft. “It enables a more frictionless banking experience with fewer holds, moving payments with the same quick gratification that customers have come to expect from other modern services, such as instant messaging, video streaming, and one-hour delivery. 

“But RTP may be an even bigger win for banks. That’s because once you’ve modernised your core infrastructure to handle RTP – even partially – you start to unlock a whole new world of potential products and revenue streams.” 

The white paper highlights four ways that banks can use RTP for an improved banking experience: personalising offers, differentiating customers and increasing their value, helping customers improve liquidity, and identifying opportunities and focusing innovation efforts. 

“Banks don’t need to move everything to the cloud at once,” said Microsoft. “Modern cloud technology can begin to collect siloed solutions into a central point, logging quick wins and starting a cloud adoption process that can get you to RTP on your schedule.” 
 

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