By Nitin Sirohi, Product Director Payments and Cash Management, TCS Financial Solutions
Across the world, banks and financial institutions of every size are heading back to the strategy tables to re-think their payment processing systems.
They are driven by numerous catalysts, including rapidly growing electronic transfers, changing customer expectations and fast-evolving regulations and frameworks such as SEPA and ISO20022.
In response to these challenges, banks are busy revamping their payments infrastructure and investing heavily in upgrading legacy systems.
This white paper describes the current scenario in payments industry. It analyzes the payments processing value chain and briefs on the challenges faced in setting up a payments processing hub.