Banks are getting more personal with payments

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For both businesses and individuals, faster and more secure ways to make and receive payments are a top priority, and as banking goes ever more digital, institutions have a lot riding on building up speed and safety in transactions.

In this month’s BAI Executive Report, we explore what’s new in the payments space and where the sector is heading.

Articles in this report include:

Payments innovation will gather steam in 2023
Industry watchers expect banks and fintech solution providers to focus on a host of products, along with a push for more personalization.

A game changer in real-time payments
The Federal Reserve’s FedNow initiative promises to broaden RTP access and reduce operational risks for U.S. banks of all sizes.

Banks may face more liability for P2P fraud
The line between authorized and unauthorized transactions is blurring, which may put institutions on the hook for payment scams affecting customers.

The imperative of intelligent verification
As customers demand faster payment options, modern IDV technology can help balance fraud with friction and build a holistic view of thin-file consumers.