Customers are becoming more demanding and looking for faster and cheaper settlement services. Continued innovation around real-time and cross-border real-time payments means new payment channels to incorporate into existing platforms. New technologies like NFC & QR codes are also driving completely new forms of payments, resulting in an even bigger integration challenge. All of that does not even consider meeting compliance requirements as regulators push for an ever-increasing amount of data and insight on KYC/AML and data protection in general.
Increasingly, we are seeing vendors offering payment hub solutions to help banks deal with their legacy challenges and prepare for the future, saving cost and improving efficiency at the same time. As nearly every large technology vendor has a payment hub solution, it can often be difficult for a bank to pick a solution that meets their needs.
With this in mind, Kapronasia is pleased to present our first overview of the Asia Pacific Payment Hub Vendor landscape. In this report, we look at many of the major offerings available in the Asia Pacific region, summarize their key features, and compare and contrast the platforms through an evaluation matrix. The intention of this report is to help financial institutions make a payment hub selection as well as to help vendors benchmark their solutions against the competition.