DATOS VENDOR EVALUATION: PAYMENT HUBS

Future-proofing your payment processing through payment hubs

Don’t risk losing essential clients in an increasingly competitive market

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Regardless of size, financial institutions (Fis) must improve payment visibility for corporate clients and provide value-added automation. Failure to do so may result in losing essential treasury relationships and deposits. Are payment hubs the answer?

Datos Insights Vendor Evaluation explores this concept by presenting the drivers for and against payments hub adoption, purchasing factors, key functionality trends, and vendor categorization within the industry.

ACI Worldwide vendor evaluation

“ACI has comprehensive functionality with a very forward-looking roadmap that shows an understanding of the direction of the payments market in the future. ACI’s core payment strength, connectivity to rails around the globe, and knowledge of the market help continue its reputation as a leader. The market and Datos Insights view ACI as an important and established player in the payments landscape.”

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Key market trends and implications

Market TrendMarket Implication
FIs need to improve visibility of payments for clients, as well as provide value-added automation solutions, or they will lose valuable treasury relationships and the deposits associated with them.FIs invest in payment hubs and modernization to manage treasury volatility. Regardless of size, FIs must meet new customer demands with efficient and complete payment solutions.
New payment rails integration is complex, and legacy payment rails create hurdles that FIs find difficult to overcome.Real-time payments are now as crucial as legacy payment types and are often mandated in many regions. FIs need new payment systems that integrate seamlessly with cash management and cross-border payment services.
Market TrendMarket Implication
Technology has made payment hubs more accessible, giving FIs the flexibility to componentize their implementation journeys.New cloud technologies and PaaS have altered payment moderation and the implementation of a payments hub. FIs can choose a vendor for one specific payment rail, enabling faster market entry for payment capabilities.
Manual and redundant operational processes continue to plague FIs, creating extra expense and introducing unnecessary risk to the payment process.A payments hub can help create operational efficiencies, reduce redundancies, allow for a better onboarding experience, and automate manual processes — all important factors for FIs to remain competitive.

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