The US payments landscape is in the midst of significant change. A spark of new capabilities – including developments to existing payment rails, the dawn of real-time payments and the emergence of innovative overlay services – is transforming the entire payments ecosystem. What’s more, with the current challenging environment causing unprecedented disruption to manual processes, the value of moving away from paper-based payments towards faster, more streamlined digital alternatives has never been more apparent. With the stage set for the transition to digital, banks are being presented with the opportunity to revolutionise both payables and receivables for their clients.
As clients increasingly look to venture into the world of digital – leveraging tools including APIs, real-time payment capabilities and pre-validation technologies, Carl Slabicki, Head of Strategic Payment Solutions at BNY Mellon explores how banks must ensure that they can support the full breadth of client requirements.
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