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Drawn on new research from Aite Group, we explore: current trends, the challenges with adoption, options for connectivity and insights to unlock the full potential of RTP.
of banks plan to support payment receipt and initiation.2
Channels Clearing and Settlement
Middleware / Payment Systems
CustomerNotifications
ADOPTION OF REAL-TIME PAYMENTSA Slow and Steady Incline with Projections to Climb
OPTIONS AND PLANS FOR CONNECTIVITY2
1. Source: The Clearing House, December 2018.
2. Source: Aite Group Survey of 57 banks, December 2018.
US 1581 / 0219
“ Seeking a trusted partner will help to relieve internal pressure around back-end technology requirements, is an effective way to speed time-to-market, provides an opportunity to learn from the experts within those organizations, and effectively establish RTP connectivity.”Erika Baumann,Senior Research Analyst, Aite Group
“ RTP provides a great opportunity for banks to meet customer demand, differentiate themselves in the market, and help improve the cash conversion cycle.”Robert Mancini, Head of Payments, Americas, Finastra
12
2018
Number of Banks Percentage of US Demand Deposit Base1
e20192018 e2020 and beyond
20190 0
20
40
60
80
100120
140
160
5
10
15
20
25 24
There are 12 banks live on RTP® with this number expected to double in 2019.1
50%
Third-party connection
Direct connection to RTP®
Via Corporate Credit Union
Undecided/ I don’t know
43%
27%
29%
2%
RTP HAS AN END-TO-END IMPACT
KEY CHALLENGES TO ADOPTION2
OVERCOME HURDLES WITH A TRUSTED PARTNER
59%Resource scarcity
(time, staff, budget)
41%Legacy
technology
49%Need more
information/education
41%Lack business case
Learn more and download the full Aite Group report on Real-time Payments: Linking Adoption and Connectivity.
REMOVING BARRIERS TO ADOPTION FOR US REAL-TIME PAYMENTS
The US entered the real-time payments arena for business payments with The Clearing House’s launch of the RTP® system. However, volumes remain low and many banks are still not connected. So, what is holding back adoption?