Payment Modernisation Is a Priority for 99% of EMEA Banks in the Next Year, Volante Report

Volante EMEA payment modernisation is accelerating as financial institutions prioritize real-time and digital payment capabilities. A new report from Volante Technologies says that 99% of banks in the EMEA region plan to modernise their payment systems in the next year. The Volante EMEA payment modernisation findings show that there is a growing need to adopt ISO 20022 standards, improve customer experiences, and meet the region's growing regulatory and technological needs. Volante Technologies, the global leader in Payments as a Service (PaaS), has released the fifth edition of its annual flagship research report, The Big Survey 2025: Modernising Payments. The survey of senior-level banking decision makers from 11 countries across EMEA reveals a near unanimous drive for change: 99% of banks plan to implement a new payments solution—replacing one or more systems—within the year, with over half (52%) aiming to do so in the next six months. Volante found that banks are not only keen to modernise, they are prepared to spend big to future-proof their payments infrastructure. Almost half (49%) of banks surveyed say their budget allocations for payments modernisation have increased over the past 12 months—on average, EMEA banks are planning to spend just under $1.5 million ($1.42 million) on payments modernisation within the next year. Other survey highlights include:

• Cost efficiency and resilience are top motivators. Nearly one-third (29%) of banks say cost efficiency and operational resilience are the external factors driving modernisation the most, followed by changing customer expectations for real-time payments and competitive pressure from fintechs and neobanks.
• Vendor selection is a key concern. The biggest concern for banks in modernising payments is choosing the right vendors and tech partners (38%)—above factors like cybersecurity and fraud risks and budget challenges.
• Banks are still encumbered by legacy systems. Over a quarter of banks (27%) rely on legacy technology for their payments services—either relying on core banking to provide payments, or using a combination of internally built and / or vendor solutions that are 5-10+ years old.

The survey also revealed that the majority (58%) of EMEA banks use a hybrid approach to cloud adoption for modernising payments, although a quarter are still exploring cloud options but remain mainly on-premises. However, there is some concern among EMEA banks regarding the process of modernisation. Around a third of banks are concerned about the disruption modernisation may cause, and a similar percentage are worried about the internal skills and knowledge needed to manage the transition. The report notes “the solution to both of these worries is to focus on strategic modernisation: progressing towards modernisation with small, carefully measured steps". It further advises banks that understanding their customers’ priorities is important both in setting out their modernisation roadmap and in building a business case for modernisation and ensuring budgets are tactically spent. “The fifth edition of The Big Survey shows banks recognise that modernising payments is crucial to survival in the evolving payments landscape. It’s not only market competition and changing customer expectations that are impressing this urgency upon them: 2025 is a pivotal year for regulatory deadlines regarding legislations, such as SEPA Instant Payments and SWIFT ISO 20022,” said Vijay Oddiraju, Co-founder and Chief Executive Officer. Oddiraju continued, “The fact that banks are preparing to spend, on average, almost $1.5 million on payments modernisation shows that they understand how important it is to adapt to industry shifts. But the size of such modernisation budgets means banks are, understandably, cautious about their selection of vendors and tech partnerships. For banks, the right partners are ones who will help them modernise their payments while lowering risk, improving ROI, and helping them onboard new clients quickly. PaaS providers who can offer banks such solutions, with technology that is resilient, compliant, and easily extensible, stand to win big as payments enters its next era.” Download a copy of the survey, ‘The Big Survey 2025: Modernising Payments’, here. The Volante EMEA payment modernisation trend reinforces how banks are accelerating digital capabilities to meet evolving demands in today’s real-time financial ecosystem.