Global payments volume is surging, competition and commoditization of payment services are increasing, and transaction costs are rising. Therefore, transforming the way payments are managed and delivered to customers is a high priority for FIs. To achieve this, FIs are increasingly looking to centralize their payments processing into payment hubs with more robust functionality and the ability to support multiple payment types on the same infrastructure.

This report evaluates the importance of a payment hub as a component of the changing payment landscape to enhance efficiency, security, and scalability. It is based on data from a Q2 2024 online survey of 200 FIs in North American, European, and Asian countries, as well as a series of in-depth interviews with 19 top-tier banks in Europe and North America.

Clients of Datos Insights’ Commercial Banking & Payments or Retail Banking & Payments service can download this report.