According to the research, Rethinking the Client Payment Experience, security and reliability are viewed as instrumental in creating the ideal payment experience.
The research also reveales that just over 25% of respondents think that blockchain technology will “substantially change the global payments experience”.
Despite this, 60% of respondents said it was too early to tell if application programme interfaces will have an impact on internal correspondence.
As for impediments surrounding the use of technology, 25% of respondents said that compliance screening is the largest impediment to straight-through processing success, while 20% believe payment formatting error is the second greatest impediment.
The white paper also found that banks need to merge their internal legacy infrastructure with components of third party providers.
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