Underpinning Innovation with Real-Time Payments

See our 2020 RTP Readiness Report: http://bit.ly/2Hz0iu4

Read our 2019 RTP Implementation Guide: https://bit.ly/2FWBfkl

See our RTP architecture vlog in its entirety: https://www.levvel.io/blog/real-time-payments-architecture

See our RTP product and design vlog in its entirety: https://bit.ly/2wus5pL

See our RTP strategy vlog in its entirety: https://bit.ly/2Uas2Oo

This video blog series covers the product management aspects of real-time payments. Throughout this series, we’ll provide answers to frequently asked questions surrounding architectural considerations for RTP, such as managing the product(s) long term, dealing with cannibalizing current products, maintaining competitive advantages as more institutions launch RTP, and more.

This episode focuses on keeping others in the organization engaged after launch.

Kara Ford: There are plenty of opportunities that are being realized that can provide your institution with cost savings.

To keep others in your organization after launch engaged, it is very important that you create an active and selective client user group. Real-life client engagement will provide you and your team with verified and valued pain points and enhancements to quantify your roadmap needs.

Another area for you to look at is the internal use cases. There are plenty of opportunities that are being realized that can provide your institution with cost savings. If you have not done a detailed analysis of the internal processing impacts with teams within your organization, you should work with your organization to identify those internal operational processes and procedures that could potentially decrease your operating costs by using RTP versus another payment method like a certified check.

Lastly, the RTP network is an evolving rail at this time. The realized value of being able to effectively transact real-time payments is still being considered to be in its infancy stages. There will certainly be a need for evolving products, offerings, and technology upgrades in order to meet the network changes, what your client demands over time and the future of real-time payments here in the United States.

The potential to influence what real-time can offer for your customers, our economy, and the payments landscape should 100% be enough excitement to keep your organization ready to do more.

Duncan Douglass, partner and leader of the Payment Systems Team, discusses the advent of the real-time clearing and settlement rail, and what the changes can mean for businesses and consumers.

What is driving Real-Time Payments in 2020 and what do banks need to do to stay ahead of their competition? Learn more at https://www.aciworldwide.com/solutions/up-real-time-payments

The drivers for real-time in 2020 will be fully leveraging technology, maximising on globalisation and understanding customer expectations where speed, efficiency are they key goals without compromising on security.

Listen to key insights from Julie Harris the Global Banking Digital Strategy, Bank of America who are one of the institutional leaders in this technology and Craig Ramsey, Head of Real-Time Payments and Wholesale Banking at ACI Worldwide to find out what they think should be your key Real-time payment priorities in 2020.

A new report quantifies real-time payment’s impact illustrating the link between skyrocketing volumes of real-time payments and the increased economic output. ACI Worldwide’s Prime Time for Real-Time report reveals that real-time payments will account for a quarter of all electronic payments by 2026 globally.