Enterprise payments remained unchanged for decades. Yet, through the introduction of ISO 20022, change has been on the drawing board of the payments industry for the last ten years. Global standardization on ISO 20022, an influx of real-time payments, value added overlay services, request to pay and advancements in cross-border payments now conclude this period of change. Modernizing to respond to these challenges gives financial institutions an opportunity to bring innovative, value-added services to clients and create new paths to increase market share and offset margin pressures. 

The choice to delay modernizing, or do nothing at all, is no longer on the table. To paraphrase Charles Darwin, “the species that survives is the one best able to adapt and adjust to the changing environment in which it finds itself.” But, determining how to contend with legacy infrastructures and siloed systems is no small feat. In this eBook, we explore how using microservices and the cloud can put financial institutions on an active and efficient path for modernizing enterprise payments systems.