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Evolution and Revolution in Payments: Real-Time Leads the Way

Rising client expectations, regulatory impetus and fintech innovations are ushering in a new era in global payments

Evolution and Revolution in Payments: Real-Time Leads the Way

October 07, 2016

Innovation has become a payments watchword in banking as the industry strives to keep pace with the convergence of three important developments: ever-rising, mobile technology-shaped client expectations; regulatory calls for faster and more secure payment processing; and the emergence of fintech companies as potential collaborators and competitors in the payment space.  As Michael Bellacosa, managing director and head of global payments for BNY Mellon's Treasury Services business, explains in this video, the industry is responding to the challenge with a host of new initiatives.  A project that will enable banks to process USD-denominated payments on a real-time basis is attracting a lot of attention, but it's only part of the payments story.