The August 2023 report captures banks’ experiences with payment hub vendors, highlighting that implementations are complex, resource-intensive, and often span years, making vendor relationships sticky. Continuous modernization is essential, driven by regulation and market needs, with banks demanding detailed, reliable roadmaps. Strong partnerships are critical, with responsiveness and local market knowledge influencing satisfaction. While top-level expertise is valued, resource strain is common. Persistent issues with buggy code and poor upgrades remain a major concern, sometimes prompting vendor changes, though not all providers face these challenges.

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