The ability to offer Instant Payments has become a necessity for banks around the world to keep up with customer expectations and to strategically prepare themselves for the future. As the development of Instant Payments infrastructures spreads around the world and existing systems mature, the number of banks connecting to these systems is growing rapidly.
In the past, this has been perceived as costly and time consuming, and thus the preserve of large multinational banks, but is this actually the case? This independent research, commissioned by Icon Solutions, dispels some of the myths about implementing Instant Payments systems through speaking to those who have been through the process.
“Instant Payments: Insights from Early Adopters”, draws on these experiences, helping to justify business plans and create guidelines to ensure successful implementation. In turn, it means that banks can avoid unnecessary costs and project delays.
Key findings of the survey include:
- Cumulative project costs over five years can be as low as €500,000
- Maintenance fees are on average 20% of the solution’s cost per year
- Transaction volumes are not the biggest driver of implementation costs
- Integration and testing require the largest investment
Download “Instant Payments: Insights from Early Adopters” for free now and discover how the experience of early adopters can help deliver Instant Payments implementations on time and on budget.
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