In 2024, the payment industry is in a state of major change, with the rapid adoption of real-time payment systems and advancements in artificial intelligence and machine learning. These changes lead to a future where
payment experiences are more personalized, secure, and heavily automated. Amidst these developments, cross-border transactions are being redefined to be smoother, cost-effective, and faster than ever before. Additionally, the impending adoption of the ISO 20022 standard is set to revolutionize the industry with enhanced efficiency and detailed, data-rich transfers.
In an American Banker-hosted webinar, Payments in 2024: What You Need to Know, Erika Baumann, Director, Commercial Banking & Payments Practice at Datos Insights, and Mark Majeske, Senior Vice President, Faster Payments at Alacriti, discussed the impending change and more.
