Mid-tier U.S. banks are under mounting pressure to modernize as they face competition from large institutions and agile fintechs. With 96% investing in payment modernization and 93% prioritizing cloud-native solutions, these banks recognize the urgency of transformation. Businesses are also investing heavily in payments tech, with 89% doing so, and 43% turning to fintechs for real-time capabilities. Cross-border payments and ISO 20022 adoption are rising concerns, with 57% of businesses seeking better international options and 60% planning or already using ISO standards. Strategic tech partnerships are now vital for competitiveness.

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