This whitepaper explains how moving payment services out of core banking enables agility, scalability, and innovation in the evolving payments landscape. With revenues expected to reach $2.5 trillion by 2025, drivers include open banking, real-time payments, and cross-border innovations like SWIFT GPI and GO. Legacy core systems, weighed down by customization, hinder modernization and customer experience. The Payments Core strategy advocates Payment-as-a-Service models, independent hubs, and shared master data to decouple from core, enabling 24/7 real-time payments, cost savings, and new monetization opportunities. This approach future-proofs banks, improves efficiency, and enhances customer value.

Join for free to read