Bottomline Publish “The Future of Competitive Advantage in Banking & Payments 2022”

Bottomline have published the results from their 2nd Annual Global Survey: “The Future of Competitive Advantage in Banking & Payments 2022”

The report illustrates and benchmarks the critical issues for competition in 2023. For instance, adopting new payment rails, such as real-time payments, has risen from 40% in 2021 to 53.5% in 2022 as the top priority for banks and FIs over the next 12 months, followed by mitigating fraud risk from 38% in 2021 to a massive jump to 51% in 2022.

More than 320 banking & FI players across Treasury, Fraud, Operations, Innovation, Product, and Technical Implementation at C-Level in 34 countries globally participated in the survey. This report is based on a peer-based, real-time comparison benchmarking survey to see how executives and their companies met customer expectations and progressed toward achieving their digital payments transformation strategy. Topics covered included real-time/instant/faster payments, cross-border, ISO 20022 messaging, fraud & financial crime management, cash & treasury management, and Open Banking. Commentary is also included from Pay.UK, EBA Clearing & Open Banking Expo.

“Thought-provoking questions and a gentle push to take action. I appreciated seeing the total results by question and how my opinion compared to the rest of the respondents.” Olimpia Modorcea, Senior Account Manager EMEA – Euronet Worldwide

Banks & FIs need to take advantage of the opportunity to compare their strategic priorities, product roadmaps, and plans for future innovation with their peers. In the process, they can discover the technology trends the industry is prioritising and align with themes.

The Future of Competitive Advantage in Banking & Payments: view the full report here