Webinar recap: 5 key takeaways
AutoRek’s Nick Botha was joined by Grant McKenzie, Consulting Director at CBS Consulting, and Somya Patnaik, Principal Product Manager at ACI Worldwide. They discussed the key regulatory changes and strategic priorities for payments firms in 2023.
We learnt that:
- There were +118bn real-time payment transactions globally in 2021 – and this number is rising
- The rise in real-time payments is a catalyst pushing back-office automation
- Three macro-level trends are driving the data volume rise: The move towards electronic payments; reduction in average payable payment value & increase in payments volume; the transition to ISO 20022
- ISO 20022 migration will be a priority for high-value customers – and will touch every aspect of the payments process
- New instruments like stablecoins and CBDC are expected to alter the payments landscape
Read our 2023 payments industry report