71% of financial institutions say instant payments are now critical—yet many are still unable to deliver.
This research reveals a growing disconnect between the strategic importance of payments modernization and the realities of execution. While financial institutions recognize the need to support real-time, multi-rail payments, progress is often slowed by legacy systems, operational complexity, and fragmented infrastructure.
The findings point to a market at an inflection point. Institutions are actively working to modernize in order to reduce fraud, improve efficiency, and meet rising expectations for faster payments. At the same time, many remain in the evaluation phase, navigating how to move forward without disrupting existing systems.
Based on a survey of 100 bank and credit union executives—all chief executives or vice presidents—this report provides a clear view into how financial institutions are approaching modernization today, where they are encountering challenges, and how priorities are evolving.
Modernization Drivers
What are your institution’s top three drivers to modernize its payment systems?
