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Consensus believes switch to real-time pay due by 2018

Removal of silos remains the biggest obstacle

Consensus believes switch to real-time pay due by 2018

Real-time payments are expected to be universally available across financial services institutions within five years, reveals a recent survey by ACI Worldwide.

More than 200 financial industry professionals from around the world participated in this September 2013 survey, and more than 80% believe the shift from batch to real-time—authorizing and executing transactions, securely and immediately—is within sight.

However, before real-time payments become mainstream or even somewhat adopted, banks must remove silos. Over two thirds (77%) of respondents believe operating in silos is the biggest hindrance to increased innovation. Introducing new concepts and regulatory updates are increasingly difficult due to multiple silos. Migrating to a responsive, enterprise payments platform, with the potential to scale, allows financial institutions to more readily address emerging opportunities such as real-time, online payments, and mobile.

“We’ve long anticipated the move toward real-time payments, and the response from both these survey participants and the community at large further validates our belief,” says Paul Thomalla, senior vice president and managing director of EMEA, ACI Worldwide.

To no one’s surprise, nearly 65% of respondents believe that a fuller mobile/tablet banking experience will be the most in-demand request from corporate customers in the next five years. Mobile devices are quickly becoming the desired vehicle for executing corporate banking activities such as initiating and approving wire payments and monitoring cash flow.

“The same desire for convenience and anywhere, anytime access that has made mobile banking and payments popular among consumers is also fuelling the demand for a rich corporate mobile banking experience, as noted by the survey results,” says Thomalla. “Corporate mobile banking needs to be a seamless part of a larger online banking strategy. To drive the necessary innovation, successful companies will take a universal, enterprise-wide approach to payments infrastructure.”

The survey of more than 200 financial industry professionals was conducted by ACI Worldwide at Sibos 2013 in Dubai on Sept. 16-17, 2013. The global survey includes responses from decision makers at commercial banks, retail banks, technology providers, and credit card/payments providers.

John Ginovsky

John Ginovsky is a contributing editor of Banking Exchange and editor of the publication’s Tech Exchange e-newsletter. For more than two decades he’s written about the commercial banking industry, specializing in its technological side and how it relates to the actual business of banking. In addition to his weekly blogs—"Making Sense of It All"—he contributes fresh, original stories to each Tech Exchange issue based on personal interviews or exclusive contributed pieces. He previously was senior editor for Community Banker magazine (which merged into ABA Banking Journal) and for ABA Banking Journal and was managing editor and staff reporter for ABA’s Bankers News. Email him at [email protected]

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Webinar: Real-Time Payments in the U.S. Market

Time/Date: June 16, 2021 2:00 p.m. ET

The U.S. has come a long way in its journey to real-time payments, with TCH and Zelle in market and FedNow just around the corner. COVID-19 has accelerated that demand to move to real-time. Yet many financial institutions remain unconvinced of the need to move, with less than 3% of financial institutions signed up today.

In this Banking Exchange hosted webinar Celent’s Gareth Lodge, Senior Analyst, Global Payments, and Alacriti’s Mark Ranta, Payments Practice Lead, discuss the findings in the Celent research report, Real-Time Payments in the US Market: Speeding Up or Slowing Down? A Call to Arms.


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