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August 13 2025

40% of FIs Say Legacy Systems Are Holding Them Back | Bottomline

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Bottomline report reveals that 40% of financial institutions (FIs) globally cite legacy systems as their primary payments infrastructure challenge — a barrier that limits their ability to meet growing customer expectations. Post-COVID, the drive for payment digitalisation has intensified, with customers demanding speed, seamless experiences, intuitive interfaces, and robust security.

While traditional banks benefit from heritage and trust, challenger banks and emerging FIs, often built on SaaS and APIs, are leveraging modern infrastructure to scale and innovate. Payment modernisation has become a competitive necessity.

The report highlights that 44% of FIs believe Software-as-a-Service (SaaS) can enhance operational efficiency and scalability. Beyond the statistic, respondents point to key capabilities SaaS delivers: centralised visibility of payment flows in real time; unified access to multiple services; robust connectivity across real-time and open banking ecosystems; improved data utilisation; and stronger compliance and fraud prevention.

In an era of complex, fast-moving payment networks, SaaS enables institutions to adapt, protect customers, and grow. The findings make one thing clear: modernisation isn’t optional — it’s the foundation for maintaining competitiveness and trust in the payments landscape.

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Zhenya Winter, Bottomline | Fintech Finance

Zhenya Winter

Bottomline
Mike Chambers

Mike Chambers

Northey Point

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Northey Point

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  1. EXCLUSIVE: “TradFi Versus DeFi: From Disruption to Definition” – Jessica Blue, Money20/20 in ‘The Paytech Magazine’

    The Paytech Magazine

     Read more
  2. The Paytech Magazine Issue #17

    News

     Read more
  3. World’s Largest Fintech Meetings Event Expands to Europe with 2026 Lisbon Launch

    Events

     Read more
  4. Innovation Celebrated as Winners of Open Banking Expo Awards 2025 Revealed

    Events

     Read more
  5. Fintech Revolution Summit 2025

    Events

     Read more
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