Implementing Instant Payments: Insights from early adopters

Do you need to prepare a business case to move towards Instant Payments based on facts & figures?

The ability to offer instant payments has become a necessity for banks around the world. However, little information has been available until now on the costs and challenges experienced by the growing number of global banks that have made the move.

In light of this, Icon commissioned independent research from Lipis Advisors. The research provides the first insights into the real world experiences, costs and challenges of global banks and processors when implementing Instant Payments solutions and shatters some of the myths surrounding Instant Payment implementations across the globe. With banks struggling to make a business case for the transition to Instant Payments according to the research, the study provides a case for change.

Watch Tom Hay, Head of Payments at Icon and Leo Lipis, Managing Director of Lipis Advisors, discuss the findings of the report.

The 12 page report includes:

• An analysis of unforeseen maintenance fees
• International case studies
• A breakdown of implementation costs between hardware and licensing costs, system integration and configuration and system testing costs
• The most popular option that banks take when choosing a solution
• The largest driver of post-implementation costs
• Analysis of large versus small vendor fees
• Commentary from senior bank executives based in Austria, Brazil, Denmark, Germany, Singapore, Spain, Sweden, Switzerland, the UK and the USA