Trends in payments

"2017 will see an acceleration in the pace of innovation, particularly in the banking sector, where collaboration, digitalisation and a services-centric approach will continue to drive change throughout the industry." - Mark Buitenhek, global head Transaction Services, ING

Collaboration: An increasingly open and collaborative industry is being built through partnerships between financial institutions and FinTechs, as the opportunity for growth through shared learnings across sectors and disciplines fosters significant advantages. Collaboration is the new competition as the adoption of new technologies for the purpose of creating a differentiating customer experience becomes more important than speed.
 
Digitalisation: Digitalisation will continue its expansion into new services and sectors. In particular, digitalisation of commodity activities will take place through the creation of new marketplaces and platforms. Here, institutions are investing heavily in digital services to optimise efficiency and enhance user experience. A combination of technological enablers like data analytics, artificial intelligence and distributed ledger technology will soon start seeing some breakthroughs as we learn about new ways these technologies can be applied most effectively.
 
Services: The complex regulatory landscape and ever-growing compliance pressures are pushing banks towards selling services rather than products, as customers gradually look for an omni-channel approach from their service provider. This is particularly evident in corporate banking, where customers are increasingly demanding the services and solutions available for retail customers.

Putting the links together

While blockchain may have been a buzzword in 2015, it is now time for the industry to unpick the hype. Mark Buitenhek, ING, shares his insights on the tangible benefits of this technology and how to fully realise them.

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From virtual bank accounts to virtual cash management

Virtual bank accounts have already been deployed to great effect for streamlining collections. But according to Dick Oskam, ING, they have the potential to do much more – not least for time-pressed and resource-strapped treasurers.

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Real time payments: the next frontier

With customers increasingly requiring ease, speed, convenience, security and always-on processing for their payments, the momentum behind instant payments is building. But the road towards truly real-time payments will not be without its twists and turns, warns Jurgen Vroegh, ING.

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Payments: why banks must collaborate to stay ahead

Payments: why banks must collaborate to stay ahead

Increasing regulation and new technologies are changing the face of the payments industry as we know it. From hybrid projects with FinTechs to blockchain consortiums, Jurgen Vroegh, ING, explains why banks’ collaboration strategies must also move with the times.

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A world disrupted: how to embrace the tech revolution

A world disrupted: how to embrace the tech revolution

While some banks consider technology ‘innovation’ to be synonymous with ‘disruption’, Mark Buitenhek believes there are big opportunities for banks and their customers within this change. Tapping into those opportunities will not only require a re-wiring of infrastructures, but a shift in mindsets too.

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Next generation cross-border cash management

Next generation cross-border cash management

Despite rapid digital advances in cash management, many treasurers still struggle to achieve full cross-border cash visibility. But all that is about to change, says Dick Oskam, ING.

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Shaping the cash management landscape

As corporates become more global and operate according to faster and faster timelines, new cash management solutions are being sought to help deliver greater efficiencies and insights. Dick Oskam, ING, explains all.

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With change comes opportunity

With change comes opportunity, and the world of payments is living proof of that, says Jurgen Vroegh, ING.

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Blockchain: be ready to ‘fail fast and fail cheap’

During the 'Blockchain and correspondent banking – The way to go?' session on Sibos, a panel explored the possible use cases and barriers to adoption of blockchain technology – one of the most talked about technologies at this year’s event. Source: BankingTechnology, 29 September 2016.

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Mark Buitenhek outlines where growth will come from

Mark Buitenhek outlines where growth will come from

The Banker’s Joy Macknight asks Buitenhek's views on challenges and the potential for growth in global transaction banking.

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Mark Buitenhek on blockchain

Mark Buitenhek on blockchain

Is blockchain the next big thing? A short interview with Mark Buitenhek.

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Jurgen Vroegh on PSD and immediate payments

Jurgen Vroegh on PSD and immediate payments

Jurgen Vroegh is challenged to explain in under 30 seconds how PSD will change banking and also gives his predictions for immediate payments.

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Dick Oskam on trends in cash management in 2017

Dick Oskam on trends in cash management in 2017

Dick Oskam on his predictions for the main trends in cash management for 2017.

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Jurgen Vroegh on Sibos' buzzword

Jurgen Vroegh on Sibos' buzzword

A short interview of Jurgen Vroegh on this year’s buzzword at Sibos.

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Dick Oskam on the impact of negative interest on VCM

Dick Oskam on the impact of negative interest on VCM

Dick Oskam is challenged to summarise the impact of negative interest rates and describe ING’s virtual cash management solution in one sentence.

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