August 23, 2021

Panelists Addressed Challenges in Payments at Remote Connect

Smarter Faster Payments Remote Connect Aug. 23-26

As digital payments trends settle in and become the norm for B2B transactions, what are the challenges financial institutions and corporates face? Panelists Sanjay Mathew of Oracle Corp., Christine Moy of Onyx by J.P. Morgan, and Alan Ng of Accenture discussed the current payments landscape and how stakeholders can adjust to this new, consistently shifting paradigm.

“We clearly see the pandemic has definitely accelerated and deepened the digital payments disruption in the industry,” Ng said. “More people are using digital means to pay as opposed to the traditional means of cash. The chance that this trend will reverse is very slim.”

During an hour-long discussion, panelists during the “Addressing Challenges in Payments” session outlined several challenges, including the need for more transparency. Of concern, Mathew says, is while the speed and velocity of payments is increasing, more traditional problems are still not solved, such as payments infrastructure.

Moy agrees that payments infrastructure needs to be upgraded and future-proofed. “It is up to the banks to invest in infrastructure. It would be difficult for corporates themselves to drive that, so banks have to serve as the platform intermediary and enable that for corporates,” she said.

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Nashville, Tennessee | May 1-4, 2022

 Payments 2022

Technology and information are making payments smarter and faster. New capabilities are enhancing the user experience, enriching decision making, and instilling greater security. Smarter Faster Payments is a unique industry venue designed for diverse organizations that are driving innovation, delivering value through new solutions and services, and employing these offerings to meet their business needs and transact with their customers. 

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